CODE OF VIRGINIA

GENERAL POWERS AND DUTIES OF BOARD (§ 55-396)

A. The Board may adopt, amend, and repeal rules and regulations and issue orders
consistent with and in furtherance of the objectives of this chapter. The Board
may prescribe forms and procedures for submitting information to the Board.

B. The Board may accept grants in aid from any governmental source and may
contract with agencies charged with similar functions in this or other
jurisdictions, in furtherance of the objectives of this chapter.

C. The Board may cooperate with agencies performing similar functions in this
and other jurisdictions to develop uniform filing procedures and forms, uniform
disclosure standards, and uniform administrative practices, and may develop
information that may be useful in the discharge of the Board’s duties.

D. 1. If the Board determines after legal notice and opportunity for hearing
that a developer or reseller or an agent of a developer or reseller has:

   a.  Made any representation in any document or information filed with the
   Board which is false or misleading;

   b.  Engaged or is engaging in any unlawful act or practice;

   c.  Disseminated or caused to be disseminated orally, or in writing, any false
   or misleading promotional materials in connection with a time-share program;

   d.  Concealed, diverted, or disposed of any funds or assets of any person in a
   manner impairing rights of purchasers of time-shares in the time-share
   program;

   e.  Failed to perform any stipulation or agreement made to induce the Board to
   issue an order relating to that time-share program;

   f.  Otherwise violated any provision of this chapter or any of the
   Board’s rules and regulations or orders; or

   g.  Disposed of any time-share in a project without first complying with the
   requirements of this chapter, it may issue an order requiring the developer to
   cease and desist from the unlawful practice and to take such affirmative
   action as in the judgment of the Board will carry out the purposes of this
   chapter.
            

      2.  If the Board makes a finding of fact at a hearing that the public
      interest will be irreparably harmed by delay in issuing an order, as
      prescribed in subdivision 1 of this subsection, it may issue a temporary
      cease and desist order. With the issuance of a temporary cease and desist
      order, the Board, by registered mail or other personal written service,
      shall give notice of the issuance to the developer or the reseller. Every
      temporary cease and desist order shall include in its terms:
                     
                     
                     
                  

         a.  A provision clearly stating the reasons for issuing such cease and
         desist order, the date of the hearing on its issuance, and the nature and
         extent of the facts and findings on which the order was based;

         b.  A provision that a hearing by the Board may be held, after due notice
         but not more than fifteen days from the date such temporary cease and
         desist order is effective, to determine whether or not a cease and desist
         order as called for in the immediately preceding subsection shall be
         issued;

         c.  A provision that such temporary cease and desist order may remain in
         full force for a period of not more than fifteen days from the date of its
         issuance or the date on which the Board has determined that an order as
         prescribed in subdivision 1 of this subsection is to be issued, whichever
         shall occur first; and

         d.  A provision that a failure to comply with such temporary cease and
         desist order will be a violation of this chapter. The Board shall not
         issue more than one temporary cease and desist order with reference to
         such finding of fact as prescribed in this subsection.

E. The Board may also issue a cease and desist order if the developer has not
registered the time-share program as required by this chapter or if a reseller
has not registered as required by this chapter.

F. The Board, after notice and hearing, may issue an order revoking the
registration of the developer’s time-share program or the registration of
a reseller upon determination that such developer, reseller, or agent thereof
has failed to comply with a cease and desist order issued by the Board affecting
the developer’s time-share program or the reseller.

G. If it appears that any person has engaged, is engaging, or is about to engage
in any act or practice in violation of this chapter or any of the Board’s
rules, regulations or orders applicable thereto, the Board, without prior
administrative proceedings, may bring suit in the circuit court of the city or
county in which any portion of the time-share project is located to enjoin that
act or practice or for other appropriate relief. The Board is not required to
post a bond or prove that no adequate remedy at law exists.

H. Upon request of a time-share owner, the Board shall, in accordance with
subsection B of § 55-382, issue its determination whether compliance with §
55-375 or 55-386 has occurred.

HISTORY: 1981, c. 462; 1985, c. 517; 1998, c. 460; 2008, c. 376; 2011, c. 605;
2012, c. 751.