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change the percentage interest of unit owners, or materially amend the legal documents timely written notice to first lienholders of any condemnation or eminent domain proceeding, and substantial damage or destruction to the common elements the right to examine the association books receive annual audited financial statements and record, and be given notice of association meetings and be entitled
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VA_Guidelines.txt
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notice of association meetings and be entitled to a representative at such meetings
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VA_Guidelines.txt
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January 1, 2001 16-A-8 Chapter 16- Common Interest Communities, VA Pamphlet 26-7, Revised Condominiums and Planned Unit Development Change 3 16-A.03 Table of Required Documents Table of The table below identifies the documents that the VA office of jurisdiction must review in Required order to approve a particular condominium project.
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VA_Guidelines.txt
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de7d7c13-f19a-467f-862c-e9996f75ad52
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Documents Reference: See Section 16-A.02, Condominium Approval Procedures Using the Table As indicated in the table, some documents are required only if applicable if the declarant is in control of the project, or for condominium conversion projects.
The last column indicates whether or not it is acceptable to submit a draft of the document.
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2bbdef2e-bd64-462c-b2b7-5a988f649d4a
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Recorded or existing final documents must be provided if loans have closed in the project.
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VA_Guidelines.txt
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251f84c8-52ee-42f2-bc9b-97fb3e4a2a84
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Required Document New Project Existing Resales Draft 1 Declaration of Covenants, Conditions and Yes Yes Yes Restrictions 2 Bylaws for HOA Yes Yes Yes 3 Articles of Incorporation for HOA If Applicable If Applicable Yes 4 “Umbrella” projects, Declaration, Bylaws If Applicable If Applicable Yes and Articles of Incorporation, as above 5 Plat, map and/or air lot survey of project Yes Yes Yes 6 Plat,
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VA_Guidelines.txt
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6669a6f0-77bf-4eb6-a4c1-bd3313c314d2
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air lot survey of project Yes Yes Yes 6 Plat, map and/or air lot survey of unit(s) If Applicable If Applicable Yes 7 Development plan and schedule Yes If Declarant Controls Yes 8 Information or Public Offering Statement Yes If Declarant Controls Yes 9 Grant/deed/leasehold agreement form Yes If Declarant Controls Yes Continued on next page July 14, 2003 16-A-9 Chapter 16- Common Interest
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July 14, 2003 16-A-9 Chapter 16- Common Interest Communities, VA Pamphlet 26-7, Revised Condominiums and Planned Unit Development Change 3 16-A
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VA_Guidelines.txt
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49439969-6357-474b-94d6-faf95f5c73d0
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.03 Table of Required Documents, Continued Using the Table (continued) Required Document New Project Existing Resales Draft 10 State reviewing agency’s report If Applicable If Applicable Yes 11 Annexation documents If Applicable If Applicable Yes 12 Cross-easement(s) If Applicable If Applicable Yes 13 Facility Leases If Applicable If Applicable Yes 14 Management agreement If Applicable If
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Yes 14 Management agreement If Applicable If Applicable Yes 15 Service contract(s) (either form of or actual) If Applicable If Applicable Yes 16 HOA budget (existing or proposed) Yes Yes No 17 Current financial statements and reserves of If Applicable If Applicable No project 18 Special assessments/litigation statement Yes Yes No 19 Minutes of last two HOA meetings Yes Yes No 20 Registered
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5291abda-d3ac-4b0a-940f-94310c45b0fa
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of last two HOA meetings Yes Yes No 20 Registered architect/engineer statement on If Declarant If Declarant Controls No project condition (conversions only) Controls Continued on next page July 14, 2003 16-A-9 VA Pamphlet 26-7, Revised Section A: Requirements for Properties in Common Interest Communities 16-A
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.03 Table of Required Documents, Continued Submit as Although the following documents are also required, as applicable, they may not be available Available for submission with the initial package.
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VA_Guidelines.txt
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They must be submitted as soon as available and before any lots or units in the project can be considered eligible for VA loan guaranty.
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Document New Project Existing Resales Draft 21 Recorded documents Yes Yes No 22 Recorded annexation document for subject Yes Yes No phase (expandable projects only) 23 Evidence recreational facilities completed Yes Yes No and common area conveyed to HOA 24 Statement on adequacy of utilities serving If Declarant If Declarant Controls site (conversions only) Controls 25 Evidence common area title
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only) Controls 25 Evidence common area title free of financial Yes If Applicable No encumbrances 26 Evidence of final local authority approval Yes No No and final VA inspection (Low/High Rises and Conversions only) 27 Lender’s certification that pre-sale Yes Yes No requirement met January 1, 2001 16-A-11 VA Pamphlet 26-7, Revised Section A: Requirements for Properties in Common Interest
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VA_Guidelines.txt
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84d91397-7d29-4386-a191-ac30cc30c57e
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A: Requirements for Properties in Common Interest Communities 16-A
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5b153440-1108-4b60-b3c8-e41224fe77c0
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.03 Table of Required Documents, Continued Submit as Although the following documents are also required, as applicable, they may not be available Available for submission with the initial package.
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They must be submitted as soon as available and before any lots or units in the project can be considered eligible for VA loan guaranty.
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5cadfe1a-cfc1-4f4c-8c3d-ad5b120822da
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Document New Project Existing Resales Draft 21 Recorded documents Yes Yes No 22 Recorded annexation document for subject Yes Yes No phase (expandable projects only) 23 Evidence recreational facilities completed Yes Yes No and common area conveyed to HOA 24 Statement on adequacy of utilities serving If Declarant If Declarant Controls site (conversions only) Controls 25 Evidence common area title
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f2018993-e5eb-4189-8dbf-b1f8fdd6bbc4
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only) Controls 25 Evidence common area title free of financial Yes If Applicable No encumbrances 26 Evidence of final local authority approval Yes No No and final VA inspection (Low/High Rises and Conversions only) 27 Lender’s certification that pre-sale Yes Yes No requirement met January 1, 2001 16-A-11 undefined VA Pamphlet 26-7, Revised Section B: Use of Attorney’s Opinion Section B Use of
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ba7d274d-37ca-4213-b29f-468e354fc3d7
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B: Use of Attorney’s Opinion Section B Use of Attorney’s Opinion Overview Attorney’s Lenders/sponsors seeking VA approval of a condominium are encouraged to include an Opinion attorney’s opinion that the project meets VA requirements, along with the organizational Encouraged documents
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This will expedite VA approval of the project by reducing the extent of VA’s review of those documents.
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VA_Guidelines.txt
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d4dd87be-e387-4e96-9a9b-685de66b2537
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General The attorney’s opinion must Requirements be prepared in letter form on the attorney’s firm’s letterhead be signed, dated and show the name and title of the attorney rendering the opinion, and address four areas project identification documents reviewed attorney’s qualifications, and attorney’s opinion.
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c27db0a9-2649-4b35-949e-b07b1561a587
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In This Section This section contains the following topics Topic See Page 16-B.01 Contents of Opinion 16-B-2 16-B.02 What Opinion Must Address 16-B-4 16-B.03 Assumptions That Opinion May Include 16-B-7 16-B.04 Qualifications or Limitations that Opinion May Include 16-B-10 16-B.05 Exhibit A: Other VA Requirements 16-B-12 16-B
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96d5e7e7-4be2-473c-9d87-5556ca5616e9
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.05 Exhibit A: Other VA Requirements 16-B-12 16-B.06 Exhibit B: Condominium Regulations 16-B-28 January 1, 2001 16-B-1 January 1, 2001 16-B-1 VA Pamphlet 26-7, Revised Section B: Use of Attorney’s Opinion 16-B
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VA_Guidelines.txt
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e55e09c4-653e-4c4c-ba66-e04ac1983fe2
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.01 Contents of Opinion Identification of Identification of the project must include Project the name of project (both legal and marketing, if applicable) the location of project (address if available, city/county, state and zip code) a statement regarding whether or not (if known at the time of submission) the lots in the project are created and subjected to the Declaration in phases, and
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VA_Guidelines.txt
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91449f8c-0109-4eac-80a0-190cd5baf018
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and subjected to the Declaration in phases, and approximate number of phases to be developed and the specific identities of the phases specific identification of units, and common areas to be subjected to the Declaration in the first phase being submitted for acceptance
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f25ec8f6-17bf-4448-b8ff-46512995a6c7
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Note: If the phases have been recorded, the description must be of those units and common areas legally subjected as of the date of the opinion, or there must be reference to a provided exhibit and the phase currently being proposed for annexation
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5c84b0e5-634d-4bad-a2e4-9dc13af71544
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. information on the status of the master or umbrella association, if any, including whether or not the documents are recorded a general description of the overall project, and the number of sub associations that may be planned.
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VA_Guidelines.txt
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ac41a69e-5f8a-4763-b299-19b4ef07c94b
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Continued on next page January 1, 2001 16-B-2 16-B-2 January 1, 2001 VA Pamphlet 26-7, Revised Section B: Use of Attorney’s Opinion 16-B
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8a29056a-067b-474f-b2dd-30fa48e9aee1
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.01 Contents of Opinion, Continued List of The list of documents that are reviewed when developing the attorney’s opinion must include, Documents at a minimum the Reviewed Declaration, including all exhibits incorporated by reference Example: Descriptions of subjected lots and land/lots to be subjected, additional lands,plats and development plans.
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3530ce32-67fa-4c6e-9118-fd3030d99b3c
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Bylaws for the Association, or similar document governing the internal operation of the association Articles of Incorporation for the Association, or similar document, if not an incorporated entity, Public Offering Statement or Information Brochure for the project, and if applicable, the same documents for any umbrella or master association in which owners in the subject association will be or
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VA_Guidelines.txt
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72a0b6e6-eb97-405a-a371-5b5ee85a747b
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owners in the subject association will be or are members, or the sub associations will be or are members
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.
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89da8d26-96a4-4f40-902c-e056130fb165
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Statement of A statement regarding the attorney’s qualifications must be similar to the following: Qualifications “The undersigned is experienced in the practice of real estate law in (name of jurisdiction and locality in which the project is located) and is familiar with the laws, ordinances, regulations, and other legal requirements that, as of the date of this opinion, were applicable with
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VA_Guidelines.txt
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344c16b9-0cc8-48b3-87c9-eb6f2d563edf
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of the date of this opinion, were applicable with respect to the establishment and administration of property owners associations within that jurisdiction
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.
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fc862155-dc2e-4c7f-aeeb-b9c09d07b292
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Consequently, I am qualified to issue this opinion.” Actual Opinion See Section 16-B.02.
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1c415e5b-4e63-43a9-a9bc-fc9d05595042
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January 1, 2001 16-B-3 January 1, 2001 16-B-3 VA Pamphlet 26-7, Revised Section B: Use of Attorney’s Opinion 16-B.02 What Opinion Must Address Compliance The attorney’s opinion must address compliance of the organizational documents with VA With VA regulations 38 CFR 36.4356 through 36.4360a(g) for condominiums.
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VA_Guidelines.txt
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239111c9-2149-4bd7-8aa4-ca8b3766955c
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Regulations Reference: [38 CFR 36.4356 through 38 CFR 36.4360a(g)] Compliance The attorney’s opinion must address compliance of the organizational documents with the with Other VA technical areas discussed in Exhibit A.
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VA_Guidelines.txt
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0c34af3c-d8d4-4c3a-881f-4e7df44bcb9d
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Requirements Compliance The actual attorney’s opinion must with address compliance of the organizational documents with the material requirements of Local/State applicable state and local laws, ordinances, regulations and other legal requirements Requirements governing the creation of property owners associations as of the date of the opinion, and identify the above applicable laws, ordinances,
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VA_Guidelines.txt
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7a333c44-6590-4a5e-bd9d-ce434f247020
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identify the above applicable laws, ordinances, regulations and legal requirements by name and citation
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.
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0074b2c1-db93-4885-aa2b-dd1910776519
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Variations The attorney’s opinion must identify any variation from any requirement, including failure to comply with a specific requirement.
A recorded amendment correcting a document defect or deficiency with regard to a VA regulation is necessary in most cases, since VA offices do not have the flexibility to approve such defects or deficiencies.
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VA_Guidelines.txt
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c04c1978-2abd-4323-836b-c01cf06b468e
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Continued on next page January 1, 2001 16-B-4 16-B-4 January 1, 2001 VA Pamphlet 26-7, Revised Section B: Use of Attorney’s Opinion 16-B.02 What Opinion Must Address, Continued Master or If there is a master or umbrella association, the attorney may provide a separate opinion Umbrella which addresses the compliance with requirements applicable to that form of association.
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VA_Guidelines.txt
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8a8a96bc-c5e5-43fd-ad52-00c16855cb35
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Association Special The attorney’s opinion must state whether or not any of the following conditions are present, Conditions and provide a detailed explanation for any that are to ensure compliance with VA guidelines and requirements: a conversion of a building from a former existing use such as former rental housing HOA owns a community water and/or sewage disposal facility alienation
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69c78583-ee20-4227-b259-1c572d0bad01
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water and/or sewage disposal facility alienation restrictions exist in connection with a state or local program designed to assist low or moderate income purchasers, or restrictions exist which are associated with housing designed for older persons
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Mixed—Use If the development is, or will be mixed-use, such as multi-family, commercial or other non- residential use, the opinion must include a detailed explanation of the arrangements the percentage of multi-family or non residential units/uses, and an explanation of the voting rights of those units.
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63e03ce6-dc90-4733-ac61-6b2ceab8339d
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Continued on next page January 1, 2001 16-B-5 January 1, 2001 16-B-5 VA Pamphlet 26-7, Revised Section B: Use of Attorney’s Opinion 16-B
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.02 What Opinion Must Address, Continued Opinion is When the attorney’s opinion is conditional, that is based on unrecorded documents, including Conditional plats, the recorded documents must be submitted to VA prior to the guaranty of the first VA loan, along with a certification from the attorney giving the original opinion.
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c3675be6-a044-445c-ade9-2248a8cd037b
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The certification (on the letterhead of the attorney’s firm, signed and dated, giving the attorney’s name and title) must either state that the recorded documents are the same as those on which the original opinion was based, or specifically address any change in the recorded documents and the effect of the change(s) on the previous opinion.
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fc6a9dbf-1b78-4d2f-94f4-a37f61108205
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January 1, 2001 16-B-6 16-B-6 January 1, 2001 VA Pamphlet 26-7, Revised Section B: Use of Attorney’s Opinion 16-B
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a42b11d8-b590-4add-8300-432d807932d2
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.03 Assumptions That Opinion May Include Documents are In each instance, at or prior to the execution of each document, all blanks appearing therein Complete and were properly completed with the appropriate information, all signatures and seals were duly Accurate made and affixed, and all exhibits were properly completed and attached.
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8dc0763a-db75-47b0-a6d8-c5f4c3cded1d
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The legal descriptions attached as exhibits to, or incorporated in, the Declaration accurately and completely describe the property subjected, or to be subjected, to the Declaration.
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VA_Guidelines.txt
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078ad448-4e7b-4b7c-99b4-0b1b68844d64
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Documents are Each party to the documents had, at all material times, full and unconditional power, Authorized authority, capacity and legal right to execute and deliver the documents, and to consummate the transaction contemplated thereby, without notice to, or the consent of, any person or entity not a party to the documents.
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ff2d7d80-1e08-4d94-9f56-75042b756cca
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The documents were duly and validly authorized, executed, acknowledged and delivered by the respective parties.
The individuals and entities who executed each of the documents on behalf of an entity or on behalf of any other person were, at all material times, duly authorized to do so and, in each instance, were legally competent.
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6b3d5d0a-649c-49c9-a26d-10a33a71f8bf
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No Violations No provision of any document or any transaction contemplated thereby violates any contract, corporate charter, corporate bylaw, corporate resolution, partnership agreement, trust agreement, document, instrument or any other agreement which is or was binding upon any party to the documents or any beneficiary thereof.
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1a02c08d-d240-4955-80e3-f5de7567494c
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No provision of any document or any transaction contemplated thereby violates any judicial or administrative order or decision binding upon a party to any document or rendered in a matter in which such party was a party to the proceedings.
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Qualified Each entity (including the declarant) which is a party to any of the documents or which Parties executed any of the documents on behalf of a party was, and at all material times will be, duly organized, effectively registered, validly existing, in good standing under the laws of the jurisdiction in which such entity was formed, and qualified to do business in the jurisdiction in which
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to do business in the jurisdiction in which the project is located
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.
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Continued on next page January 1, 2001 16-B-7 January 1, 2001 16-B-7 VA Pamphlet 26-7, Revised Section B: Use of Attorney’s Opinion 16-B
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.03 Assumptions That Opinion May Include, Continued No Waivers or There is no oral or written modification of or amendment to the documents reviewed, and Limitations there has been no waiver of any of the provisions of the documents, by actions, by conduct of the parties or otherwise.
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None of the parties to any of the documents have entered into or will enter into any other agreement, or take any other action, which is inconsistent with, or serves to limit or amend, any provision of any of the documents.
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Documents Not None of the documents are subject to rescission or reformation for fraud, duress, lack of Subject to consideration, mistake, or any other factor affecting its execution.
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VA_Guidelines.txt
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8772c055-6adc-40d8-9d05-06a7f22605ca
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Rescission or Reformation Recording of The Declaration (or other recorded covenants) has been, and at all material times shall be Documents duly filed, indexed, and recorded among the Land Records of the jurisdiction in which the project is located.
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VA_Guidelines.txt
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0b76f4ba-534c-4761-a84b-8e9863b3734c
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The Articles of Incorporation (or other governing documents) have been, and at all material times shall be duly filed, indexed, and recorded with all applicable state and local governmental agencies.
In each instance, all applicable recording fees, charges and taxes have been paid.
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9223c44a-9193-4fc0-8477-182f3e47d2f5
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Authenticity All documents submitted to the attorney as originals are authentic; all documents submitted to the attorney as certified or photostatic copies conform to the original documents; all signatures on all documents submitted to the attorney for examination are genuine; and all public records reviewed are accurate and complete.
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31fe4319-8560-4454-8bef-3720f1362ed3
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Accuracy Each statement and representation contained in the documents is accurate and contains all statements of material fact necessary to prevent them, and the documents generally, from being misleading.
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VA_Guidelines.txt
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d9030aeb-f08e-4499-b72d-6cda722dac57
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Continued on next page January 1, 2001 16-B-8 16-B-8 January 1, 2001 VA Pamphlet 26-7, Revised Section B: Use of Attorney’s Opinion 16-B
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b772dd93-159b-453d-a894-bce4f62e2d2e
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.03 Assumptions That Opinion May Include, Continued Correct and The Articles of Incorporation and Bylaws (or other governing documents) of the association, Complete as submitted to the attorney, are true, correct, and complete copies thereof, and have not been Copies amended, modified or canceled and are in full force and effect as of the date of the opinion.
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73b641fb-cc78-46cb-9ccd-9bba7260a7e3
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Other than the Articles of Incorporation, Declaration and Bylaws (or other governing documents) of the association, there are no other agreements or documents governing the organization or operation of the association.
Other The attorney must identify any other assumptions included in the opinion.
They will be Assumptions reviewed by VA and may be allowed on a case-by-case basis.
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5d432230-733a-41ff-ac10-112f84ce8ab0
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January 1, 2001 16-B-9 January 1, 2001 16-B-9 VA Pamphlet 26-7, Revised Section B: Use of Attorney’s Opinion 16-B.04 Qualifications or Limitations that Opinion May Include Subjective No opinion is given regarding compliance with any subjective factual standards contained in Factual these requirements.
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675d32fc-bbee-4830-9107-aa38ad8e02fa
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Standards Example: The attorney is not required to judge whether specific document provisions are “reasonable” or “equitable”.
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VA_Guidelines.txt
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14f2d602-0255-451f-acb0-f44edb3c8768
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Zoning No opinion is given as to whether the project complies with zoning laws and ordinances, Requirements height restrictions, setback requirements, environmental requirements, or other similar requirements applicable to the project, or as to the effect of any such requirement on the operation of the project.
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VA_Guidelines.txt
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4bfcc407-a786-4a2b-b24e-e7d2bf8b4642
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Subdivision No opinion is given as to whether the project complies with the applicable subdivision laws Requirements or requirements.
Building No opinion is given as to whether the project complies with Requirements applicable building code other similar building laws or requirements applicable health, or safety laws or requirements.
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VA_Guidelines.txt
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059e536b-866e-4418-aaab-7c59749fe05a
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No opinion is given as to whether the declarant obtained any building permits, or approvals or occupancy certificates, approvals, licenses or permits with respect to all or any portion the project, or any expansion or the development thereof, necessary or required as of the date of creation of the project.
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VA_Guidelines.txt
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10020c2f-8fe2-4b89-890b-7497c68558d8
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Operation No opinion is given as to whether the project is being operated or administered in accordance with the provisions of the governing documents and/or applicable law.
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VA_Guidelines.txt
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7c55ff83-e41b-491d-aa4c-0ca0d20a6309
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Continued on next page January 1, 2001 16-B-10 16-B-10 January 1, 2001 VA Pamphlet 26-7, Revised Section B: Use of Attorney’s Opinion 16-B.04 Qualifications or Limitations that Opinion May Include, Continued Applicability of No opinion is given as to the applicability or effect of any laws other than those of the Laws jurisdiction in which the project is located.
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VA_Guidelines.txt
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20c0c34c-6f83-4dfb-a506-875552cfa200
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No opinion is given with respect to the tax or securities laws of the jurisdiction in which the project is located (or of the United States of America).
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1cd0265d-6770-4f07-8729-21fbe39298a3
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Title No opinion is given with respect to title to the lots, common area or other property subjected, or to be subjected, to the Declaration, including without limitation the ownership of, or legal equitable interests in, such lots, common area or property the priority of the interests of the respective owners, vis-à-vis any other rights, titles, interests or estates in or to such lots, common
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c31262b3-a932-4eca-9060-f97b4e7cd2c6
|
interests or estates in or to such lots, common area or property, or any encumbrances, liens, covenants, rights-of-way, restrictions, declarations, or other instruments which would affect such lots, common area, or property, or the use thereof
|
VA_Guidelines.txt
|
b6255223-2104-4128-8d6b-1fc553fb4e78
|
.
|
VA_Guidelines.txt
|
57c7f962-86bb-483f-bebe-0b30fa986a68
|
The conclusions stated by the attorney are subject in each instance to the operation and effect of any such matters.
The attorney may assume that the declarant has, and had at all material times, all requisite legal and equitable title to the property subjected and to be subjected to the Declaration of record and in fact.
|
VA_Guidelines.txt
|
7912b138-8c0c-497c-a5f0-3193e49bc73d
|
Inference No inference is to be drawn beyond the strict scope of the opinion as expressed by the attorney.
Dated Opinion The opinion is based upon the status of the documents, and matters pertaining thereto, as of the date the opinion is given.
|
VA_Guidelines.txt
|
acc02bf1-1eac-4023-8766-b736ca3c36d6
|
The attorney assumes no obligation to supplement the opinion if any applicable laws change, or if the attorney becomes aware of any facts that might change the opinion after the date the opinion is given.
January 1, 2001 16-B-11 January 1, 2001 16-B-11 VA Pamphlet 26-7, Revised Section B: Use of Attorney’s Opinion Exhibit A: Other VA Requirements (A) Declaration 1.
|
VA_Guidelines.txt
|
74f46908-422e-4628-95d7-1c5748b7eac3
|
Contains, within its body or incorporated by reference, a legal description of the real estate which is currently subject to the Declaration. 2.
Contains within its body, or an exhibit incorporated by reference, or a supplementary declaration, a description of the common area(s) to be legally subjected with the first phase or phases being submitted for acceptance. 3.
|
VA_Guidelines.txt
|
5b3c3d9e-a0bc-44b5-a27b-7af136194e8d
|
Contains provisions requiring each unit owner, or in certain instances, the subassociation representing such owners (the attorney must provide an explanation describing the membership structure and rationale for subassociation representation), to be a member of the association. 4.
|
VA_Guidelines.txt
|
2e1bbe6b-9a83-484e-8fe4-2b8fc4705a41
|
Contains provisions establishing and describing the voting rights of each member consistent with the articles of incorporation and as follows: (a) If there are different types of development (i.e
|
VA_Guidelines.txt
|
ed343e78-37c8-4495-9cd6-e5d9d0b9211e
|
.e., single family attached or detached, other residential or commercial uses), the voting class structure and basis for voting rights allocating voting power among the members must be fully described, including provisions allowing for representation or protection of minority interests
|
VA_Guidelines.txt
|
adba7d8b-949c-48b1-bb12-c6549965a255
|
. (b) The declarant's voting rights are not weighted beyond 3 to 1 in the declarant's favor (based on the total number of units planned).
|
VA_Guidelines.txt
|
9c4767ba-de97-4468-9500-3e8817aa69c4
|
The declarant control period does not extend beyond 120 days after the date 75 percent of the total number of units planned are conveyed to unit owners other than the declarant
|
VA_Guidelines.txt
|
fc71ee7d-a8ac-446d-970f-a36274660f5a
|
. (There is also an outside time limit on the declarant control period of no later than 7 years from the date of recordation of the declaration or, if a phased project, 5 years after recordation of the most recently recorded annexation document.) 5.
|
VA_Guidelines.txt
|
d6f650ba-faf0-4022-be03-fa575113e035
|
Contains provisions for the election (or appointment by declarant during the declarant control period), removal and replacement of members of the board of directors of the association.
These provisions may also be placed in the articles of incorporation.
|
VA_Guidelines.txt
|
b4138934-bb7d-49ce-951e-c06714b2ee86
|
Continued on next page January 1, 2001 16-B-12 16-B-12 January 1, 2001 VA Pamphlet 26-7, Revised Section B: Use of Attorney’s Opinion Exhibit A: Other VA Requirements, Continued (A) Declaration (continued) 6.
Contains provisions for amendment.
|
VA_Guidelines.txt
|
2448ea67-415e-4be5-b00d-fad81d2de7d6
|
Material amendments or extraordinary actions must be approved by members entitled to cast at least 67 percent of the votes of members present, in person or by proxy, and voting at any meeting of the association held in accordance with subparagraph d
|
VA_Guidelines.txt
|
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