55-366 - Time-sharing permitted. - Virginia Statutes

§ 55-366. Time-sharing permitted.

A time-share project shall be permitted on any land or improvement thereonlying within the Commonwealth unless prohibited by zoning then in effect orby the express language of any legally enforceable covenant, condition orrestriction, however denominated, contained in the governing documents ofrecord for such land, including without limitation, condominium instrumentsunder the Condominium Act (§ 55-79.39 et seq.), a time-share instrument underthis chapter, declaration under the Virginia Real Estate Cooperative Act (§55-424 et seq.) or a master deed under the Horizontal Property Act (§ 55-79.1et seq.). This chapter shall not be construed to affect the validity of anyprovisions of any time-share program or any expansion thereof or time-shareinstrument recorded or in existence prior to July 1, 1981.

(1981, c. 462; 1994, c. 580; 1998, c. 460.)