55-481 - Public offering statement; cooperatives containing conversion building. - Virginia Statutes

§ 55-481. Public offering statement; cooperatives containing conversionbuilding.

A. The public offering statement of a cooperative containing any conversionbuilding must contain, in addition to the information required by § 55-478:

1. A statement by the declarant, based on a report prepared by anindependent, registered architect or engineer, describing the presentcondition of all structural components and mechanical and electricalinstallations material to the use and enjoyment of the building;

2. A statement by the declarant of the expected useful life of each itemreported on in paragraph 1, or a statement that no representations are madein that regard; and

3. A list of any outstanding notices of uncured violations of building codeor other municipal regulations, together with the estimated cost of curingthose violations.

B. This section applies only to buildings containing units that may beoccupied for residential use.

(1982, c. 277.)