54.1-2345 - Definitions. - Virginia Statutes

§ 54.1-2345. Definitions.

As used in this chapter, unless the context requires a different meaning:

"Association" means the same as that term is defined in § 55-528.

"Board" means the Common Interest Community Board.

"Common interest community" means the same as that term is defined in §55-528; provided that for the purposes of this chapter only, a commoninterest community shall not include any time-share project registeredpursuant to the Virginia Real Estate Time-Share Act (§ 55-360 et seq.) or anyadditional land that is a part of such registration.

"Common interest community manager" means a person or business entity,including but not limited to a partnership, association, corporation, orlimited liability company, who, for compensation or valuable consideration,provides management services to a common interest community.

"Declaration" means the same as that term is defined in § 55-528.

"Governing board" means the governing board of an association, includingthe executive organ of a condominium unit owners' association, the executiveboard of a cooperative proprietary lessees' association, and the board ofdirectors or other governing body of a property owners' association.

"Lot" means the same as that term is defined in § 55-528.

"Management services" means (i) acting with the authority of an associationin its business, legal, financial, or other transactions with associationmembers and nonmembers; (ii) executing the resolutions and decisions of anassociation or, with the authority of the association, enforcing the rightsof the association secured by statute, contract, covenant, rule, or bylaw;(iii) collecting, disbursing, or otherwise exercising dominion or controlover money or other property belonging to an association; (iv) preparingbudgets, financial statements, or other financial reports for an association;(v) arranging, conducting, or coordinating meetings of an association or thegoverning body of an association; (vi) negotiating contracts or otherwisecoordinating or arranging for services or the purchase of property and goodsfor or on behalf of an association; or (vii) offering or soliciting toperform any of the aforesaid acts or services on behalf of an association.

(2008, cc. 851, 871.)