59.1-331 - Resale of memberships. - Virginia Statutes

§ 59.1-331. Resale of memberships.

A. In the event of the resale of a membership by a purchaser who is neither amembership camping operator nor any other person who is in the business ofoffering for sale or transfer the rights under existing membership campingcontracts for a fee, such purchaser (hereinafter in this section called"owner") shall furnish to the new purchaser before the execution of anyinstrument of conveyance a copy of the membership camping contract and acertificate containing:

1. A statement disclosing any right of first refusal or other restraint ontransfer of the membership.

2. A statement setting forth the amount of the periodic payments which arerequired by the contract including any amounts currently due and payable.

3. That the membership camping operator may have a valid reason for nottransferring the contract to the new purchaser.

4. That there may have been changes in the rules or regulations concerningthe rights and obligations of the membership camping operator or purchasers,including changes with respect to membership fees, dues, and assessments, orthat some campgrounds or facilities may have been withdrawn.

5. Any other material changes or risks to the purchaser known to the owner.

B. The membership camping operator within ten days after receipt of a writtenrequest by an owner, shall furnish the owner with a written certificatecontaining the information necessary to enable the owner to comply withsubdivisions 1 and 2 of subsection A of this section. An owner providing suchcertificate pursuant to subsection A is not liable to the purchaser for anyerroneous information provided by the membership camping operator andincluded in the certificate. The membership camping operator is not liable toeither the owner or the new purchaser for any information not provided by him.

(1985, c. 409; 1992, c. 545.)