{"data":{"id":"us-va/va.-code-55.1-2243","jurisdiction":"us-va","citation":"Va. Code § 55.1-2243","heading":"Termination of registration","body":"A. In a time-share estate program, if the annual report indicates that the developer has transferred title to the time-share owners' association and that no further development rights exist, the Board shall issue an order terminating the registration of the time-share program.B. The Board shall issue an order terminating the registration of a time-share program upon application by the developer in which the developer states that no further development right is anticipated and that the developer has ceased sales of time-shares in the time-share program.C. Notwithstanding any other provisions of this chapter, the Board may administratively terminate the registration of a time-share program if:1. The developer has not filed an annual report in accordance with § 55.1-2242 for three or more consecutive years; or2. The developer's registration with the State Corporation Commission, if applicable, has not been active for five or more consecutive years.2012, cc. 481, 797, § 55-394.2; 2019, c. 712; 2020, c. 1011.","path":["Title 55.1. Property and Conveyances","Subtitle IV. Common Interest Communities","Chapter 22. Virginia Real Estate Time-Share Act","Article 5. Registration"],"source_url":"https://law.lis.virginia.gov/vacode/55.1-2243/","current_through":"9/4/2026","vintage":"","retrieved_at":"2026-09-04T15:17:29Z","sha256":"ce57eb884202db7d1a2be090e5ec8c1a8c461f0b375fb804902fa34f20d45e7e","source_id":"us-va","stale":true,"prev":"us-va/va.-code-55.1-2242","next":"us-va/va.-code-55.1-2244"},"notice":"GroundRules: Original legal text. Not legal advice."}