{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2026\/code-json\/55.1-1968.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2026\/code-text\/55.1-1968.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2026\/code-xml\/55.1-1968.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2026\/code-html\/55.1-1968.html"}],"law_id":369475,"edition_id":2,"section_id":369475,"structure_id":52637,"section_number":"55.1-1968","catch_line":"Bond to be posted by declarant","history":"1977, c. 428, \u00a7 55-79.84:1; 1981, c. 480; 1984, c. 601; 1985, c. 107; 1988, c. 15; 1993, cc. 667, 900; 2008, cc. 851, 871; 2019, c. 712.","full_text":"A\n\nThe declarant of a condominium containing units that are required by this chapter to be registered with the Common Interest Community Board shall post a bond in favor of the unit owners’ association with good and sufficient surety, in a sum equal to $1,000 per unit, except that such sum shall not be less than $10,000, nor more than $100,000. Such bond shall be filed with the Common Interest Community Board and shall be maintained for so long as the declarant owns more than 10 percent of the units in the condominium or, if the declarant owns less than 10 percent of the units in the condominium, until the declarant is current in the payment of assessments. However, the Board shall return a bond where the declarant owns one unit in a condominium containing less than 10 units, provided that such declarant is current in the payment of assessments.\n\nB\n\nNo bond shall be accepted for filing unless it is with a surety company authorized to do business in the Commonwealth or by such other surety as is satisfactory to the Board, and such bond shall be conditioned upon the payment of all assessments levied against condominium units owned by the declarant. The Board may accept a letter of credit in lieu of the bond contemplated by this section.\n\t\t\tThe Board may promulgate reasonable regulations that govern the return of bonds submitted in accordance with this section.\n\n","order_by":null,"text":{"0":{"id":1378168,"text":"The declarant of a condominium containing units that are required by this chapter to be registered with the Common Interest Community Board shall post a bond in favor of the unit owners’ association with good and sufficient surety, in a sum equal to $1,000 per unit, except that such sum shall not be less than $10,000, nor more than $100,000. Such bond shall be filed with the Common Interest Community Board and shall be maintained for so long as the declarant owns more than 10 percent of the units in the condominium or, if the declarant owns less than 10 percent of the units in the condominium, until the declarant is current in the payment of assessments. However, the Board shall return a bond where the declarant owns one unit in a condominium containing less than 10 units, provided that such declarant is current in the payment of assessments.","type":"section","prefixes":["A"],"prefix":"A","entire_prefix":"A","prefix_anchor":"A","level":1,"next_prefix":"B"},"1":{"id":1378169,"text":"No bond shall be accepted for filing unless it is with a surety company authorized to do business in the Commonwealth or by such other surety as is satisfactory to the Board, and such bond shall be conditioned upon the payment of all assessments levied against condominium units owned by the declarant. The Board may accept a letter of credit in lieu of the bond contemplated by this section.\n\t\t\tThe Board may promulgate reasonable regulations that govern the return of bonds submitted in accordance with this section.","type":"section","prefixes":["B"],"prefix":"B","entire_prefix":"B","prefix_anchor":"B","level":1,"prior_prefix":"A"}},"ancestry":[{"id":52637,"edition_id":2,"name":"Management of Condominium","identifier":"3","label":"article","depth":4,"order_by":3,"parent_id":52634,"metadata":{"child_laws":34,"child_structures":0},"date_created":"2026-08-02 03:02:11","date_modified":"2026-08-02 12:35:29","permalink":{"id":1473791,"object_type":"structure","relational_id":52637,"identifier":"3","token":"55.1\/IV\/19\/3","url":"\/55.1\/IV\/19\/3\/","edition_id":2,"permalink":0,"preferred":1}},{"id":52634,"edition_id":2,"name":"Virginia Condominium Act","identifier":"19","label":"chapter","depth":3,"order_by":2,"parent_id":52629,"metadata":{"child_laws":95,"child_structures":5},"date_created":"2026-08-02 03:02:06","date_modified":"2026-08-02 12:35:28","permalink":{"id":1473625,"object_type":"structure","relational_id":52634,"identifier":"19","token":"55.1\/IV\/19","url":"\/55.1\/IV\/19\/","edition_id":2,"permalink":0,"preferred":1}},{"id":52629,"edition_id":2,"name":"Common Interest Communities","identifier":"IV","label":"subtitle","depth":2,"order_by":4,"parent_id":52600,"metadata":{"child_laws":309,"child_structures":30},"date_created":"2026-08-02 03:01:58","date_modified":"2026-08-02 12:35:28","permalink":{"id":1473475,"object_type":"structure","relational_id":52629,"identifier":"IV","token":"55.1\/IV","url":"\/55.1\/IV\/","edition_id":2,"permalink":0,"preferred":1}},{"id":52600,"edition_id":2,"name":"Property and Conveyances","identifier":"55.1","label":"title","depth":1,"order_by":120,"parent_id":null,"metadata":{"child_laws":875,"child_structures":101},"date_created":"2026-08-02 03:01:36","date_modified":"2026-08-02 12:35:20","permalink":{"id":1471771,"object_type":"structure","relational_id":52600,"identifier":"55.1","token":"55.1","url":"\/55.1\/","edition_id":2,"permalink":0,"preferred":1}}],"structure_contents":[{"id":369444,"structure_id":52637,"section_number":"55.1-1940","catch_line":"Bylaws to be recorded with declaration; contents; unit owners' association; executive board; amendment of bylaws","url":"\/55.1-1940\/","token":"55.1\/IV\/19\/3\/55.1-1940","metadata":false},{"id":369443,"structure_id":52637,"section_number":"55.1-1940.1","catch_line":"Termination and duration of certain management contracts","url":"\/55.1-1940.1\/","token":"55.1\/IV\/19\/3\/55.1-1940.1","metadata":false},{"id":369445,"structure_id":52637,"section_number":"55.1-1941","catch_line":"Amendment to condominium instruments; consent of mortgagee","url":"\/55.1-1941\/","token":"55.1\/IV\/19\/3\/55.1-1941","metadata":{"court_decisions":""}},{"id":369446,"structure_id":52637,"section_number":"55.1-1942","catch_line":"Reformation of declaration; judicial procedure","url":"\/55.1-1942\/","token":"55.1\/IV\/19\/3\/55.1-1942","metadata":{"court_decisions":""}},{"id":369447,"structure_id":52637,"section_number":"55.1-1943","catch_line":"Control of condominium by declarant","url":"\/55.1-1943\/","token":"55.1\/IV\/19\/3\/55.1-1943","metadata":false},{"id":369448,"structure_id":52637,"section_number":"55.1-1944","catch_line":"Deposit of funds","url":"\/55.1-1944\/","token":"55.1\/IV\/19\/3\/55.1-1944","metadata":{"court_decisions":""}},{"id":369449,"structure_id":52637,"section_number":"55.1-1945","catch_line":"Books, minutes, and records; inspection","url":"\/55.1-1945\/","token":"55.1\/IV\/19\/3\/55.1-1945","metadata":{"court_decisions":""}},{"id":369450,"structure_id":52637,"section_number":"55.1-1946","catch_line":"Management office","url":"\/55.1-1946\/","token":"55.1\/IV\/19\/3\/55.1-1946","metadata":{"court_decisions":""}},{"id":369451,"structure_id":52637,"section_number":"55.1-1947","catch_line":"Transfer of special declarant rights","url":"\/55.1-1947\/","token":"55.1\/IV\/19\/3\/55.1-1947","metadata":false},{"id":369452,"structure_id":52637,"section_number":"55.1-1948","catch_line":"Declarants not succeeding to special declarant rights","url":"\/55.1-1948\/","token":"55.1\/IV\/19\/3\/55.1-1948","metadata":false},{"id":369453,"structure_id":52637,"section_number":"55.1-1949","catch_line":"Meetings of unit owners' association and executive board","url":"\/55.1-1949\/","token":"55.1\/IV\/19\/3\/55.1-1949","metadata":false},{"id":369454,"structure_id":52637,"section_number":"55.1-1950","catch_line":"Distribution of information by members","url":"\/55.1-1950\/","token":"55.1\/IV\/19\/3\/55.1-1950","metadata":false},{"id":369456,"structure_id":52637,"section_number":"55.1-1951","catch_line":"Display of the flag of the United States; necessary supporting structures; affirmative defense","url":"\/55.1-1951\/","token":"55.1\/IV\/19\/3\/55.1-1951","metadata":false},{"id":369455,"structure_id":52637,"section_number":"55.1-1951.1","catch_line":"Installation of solar energy collection devices","url":"\/55.1-1951.1\/","token":"55.1\/IV\/19\/3\/55.1-1951.1","metadata":false},{"id":369457,"structure_id":52637,"section_number":"55.1-1952","catch_line":"Meetings of unit owners' association and executive board; quorums","url":"\/55.1-1952\/","token":"55.1\/IV\/19\/3\/55.1-1952","metadata":{"court_decisions":""}},{"id":369458,"structure_id":52637,"section_number":"55.1-1953","catch_line":"Meetings of unit owners' association and executive board; voting by unit owners; proxies","url":"\/55.1-1953\/","token":"55.1\/IV\/19\/3\/55.1-1953","metadata":false},{"id":369459,"structure_id":52637,"section_number":"55.1-1954","catch_line":"Officers","url":"\/55.1-1954\/","token":"55.1\/IV\/19\/3\/55.1-1954","metadata":{"court_decisions":""}},{"id":369460,"structure_id":52637,"section_number":"55.1-1955","catch_line":"Upkeep of condominiums; warranty against structural defects; statute of limitations for warranty; warranty review committee","url":"\/55.1-1955\/","token":"55.1\/IV\/19\/3\/55.1-1955","metadata":false},{"id":369461,"structure_id":52637,"section_number":"55.1-1956","catch_line":"Control of common elements","url":"\/55.1-1956\/","token":"55.1\/IV\/19\/3\/55.1-1956","metadata":false},{"id":369462,"structure_id":52637,"section_number":"55.1-1957","catch_line":"Common elements; notice of pesticide application","url":"\/55.1-1957\/","token":"55.1\/IV\/19\/3\/55.1-1957","metadata":false},{"id":369463,"structure_id":52637,"section_number":"55.1-1958","catch_line":"Tort and contract liability; judgment lien","url":"\/55.1-1958\/","token":"55.1\/IV\/19\/3\/55.1-1958","metadata":false},{"id":369464,"structure_id":52637,"section_number":"55.1-1959","catch_line":"Suspension of services for failure to pay assessments; corrective action; assessment of charges for violations; notice; hearing; adoption and enforcement of rules and regulations","url":"\/55.1-1959\/","token":"55.1\/IV\/19\/3\/55.1-1959","metadata":false},{"id":369466,"structure_id":52637,"section_number":"55.1-1960","catch_line":"Limitation of occupancy of a unit","url":"\/55.1-1960\/","token":"55.1\/IV\/19\/3\/55.1-1960","metadata":{"court_decisions":{"0":{"name":"Robertson v. Commonwealth","case_number":"Record 7229 and 7230","citation":"211 Va. 62","date":"1970-06-15","url":"https:\/\/www.courtlistener.com\/opinion\/1206890\/robertson-v-commonwealth\/","abstract":" .\u202f.\u202f. 211 Va. 62 (1970) .\u202f.\u202f. ","court_html":"SCV<\/abbr>"}}}},{"id":369465,"structure_id":52637,"section_number":"55.1-1960.1","catch_line":"Limitation of smoking in condominium","url":"\/55.1-1960.1\/","token":"55.1\/IV\/19\/3\/55.1-1960.1","metadata":false},{"id":369467,"structure_id":52637,"section_number":"55.1-1961","catch_line":"Use of for sale sign in connection with resale","url":"\/55.1-1961\/","token":"55.1\/IV\/19\/3\/55.1-1961","metadata":false},{"id":369469,"structure_id":52637,"section_number":"55.1-1962","catch_line":"Designation of authorized representative","url":"\/55.1-1962\/","token":"55.1\/IV\/19\/3\/55.1-1962","metadata":false},{"id":369468,"structure_id":52637,"section_number":"55.1-1962.1","catch_line":"Electric vehicle charging stations permitted","url":"\/55.1-1962.1\/","token":"55.1\/IV\/19\/3\/55.1-1962.1","metadata":false},{"id":369470,"structure_id":52637,"section_number":"55.1-1963","catch_line":"Insurance","url":"\/55.1-1963\/","token":"55.1\/IV\/19\/3\/55.1-1963","metadata":false},{"id":369471,"structure_id":52637,"section_number":"55.1-1964","catch_line":"Liability for common expenses; late fees; additional assessment; authority to borrow","url":"\/55.1-1964\/","token":"55.1\/IV\/19\/3\/55.1-1964","metadata":{"court_decisions":{"0":{"name":" .\u202f.\u202f. Telegraph Square II, A Condominium Unit Owners v. 7205 .\u202f.\u202f. ","case_number":"0222224","citation":null,"date":"2023-12-19","url":"https:\/\/www.courtlistener.com\/opinion\/9453326\/telegraph-square-ii-a-condominium-unit-owners-v-7205-telegraph-square\/","abstract":" .\u202f.\u202f. VIRGINIA: .\u202f.\u202f. ","court_html":"COA<\/abbr>"},"1":{"name":" .\u202f.\u202f. Telegraph Square II, A Condominium Unit Owners v. 7205 .\u202f.\u202f. ","case_number":"0222224","citation":null,"date":"2023-04-25","url":"https:\/\/www.courtlistener.com\/opinion\/9393813\/telegraph-square-ii-a-condominium-unit-owners-v-7205-telegraph-square\/","abstract":" .\u202f.\u202f. COURT OF APPEALS OF VIRGINIA .\u202f.\u202f. ","court_html":"COA<\/abbr>"},"2":{"name":" .\u202f.\u202f. Telegraph Square II, A Condominium Unit Owners v. 7205 .\u202f.\u202f. ","case_number":"0222224","citation":null,"date":"2023-06-06","url":"https:\/\/www.courtlistener.com\/opinion\/9404308\/telegraph-square-ii-a-condominium-unit-owners-v-7205-telegraph-square\/","abstract":" .\u202f.\u202f. VIRGINIA: .\u202f.\u202f. ","court_html":"COA<\/abbr>"},"3":{"name":"Lowery v. Commonwealth","case_number":"Record No. 5811","citation":"205 Va. 575","date":"1964-10-12","url":"https:\/\/www.courtlistener.com\/opinion\/6926645\/lowery-v-commonwealth\/","abstract":" .\u202f.\u202f. Buchanan, J., .\u202f.\u202f. ","court_html":"SCV<\/abbr>"}}}},{"id":369472,"structure_id":52637,"section_number":"55.1-1965","catch_line":"Annual budget; reserve study; reserves for capital components","url":"\/55.1-1965\/","token":"55.1\/IV\/19\/3\/55.1-1965","metadata":false},{"id":369473,"structure_id":52637,"section_number":"55.1-1966","catch_line":"Lien for assessments; foreclosure","url":"\/55.1-1966\/","token":"55.1\/IV\/19\/3\/55.1-1966","metadata":false},{"id":369474,"structure_id":52637,"section_number":"55.1-1967","catch_line":"Notice of sale under deed of trust","url":"\/55.1-1967\/","token":"55.1\/IV\/19\/3\/55.1-1967","metadata":false},{"id":369475,"structure_id":52637,"section_number":"55.1-1968","catch_line":"Bond to be posted by declarant","url":"\/55.1-1968\/","token":"55.1\/IV\/19\/3\/55.1-1968","metadata":{"court_decisions":""}},{"id":369476,"structure_id":52637,"section_number":"55.1-1969","catch_line":"Restraints on alienation","url":"\/55.1-1969\/","token":"55.1\/IV\/19\/3\/55.1-1969","metadata":{"court_decisions":""}}],"previous_section":{"id":369474,"structure_id":52637,"section_number":"55.1-1967","catch_line":"Notice of sale under deed of trust","url":"\/55.1-1967\/","token":"55.1\/IV\/19\/3\/55.1-1967","metadata":false},"next_section":{"id":369476,"structure_id":52637,"section_number":"55.1-1969","catch_line":"Restraints on alienation","url":"\/55.1-1969\/","token":"55.1\/IV\/19\/3\/55.1-1969","metadata":{"court_decisions":""}},"metadata":{"court_decisions":""},"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/55.1-1968\/","history_text":"

This law was first created in 1977. The record of its establishment is cataloged in chapter 428 of that year\u2019s edition of \u201cActs of Assembly,\u201d the annual state publication listing all changes made to the Code of Virginia in that year. Unfortunately, the 1977 \u201cActs\u201d aren\u2019t available online. It has been modified 7 times. Those modifications are cataloged by \u201cThe Acts of Assembly,\u201d a state publication, by year and chapter. Those modifications that can be read on the General Assembly\u2019s website will be linked accordingly. Those modifications are as follows: in 1981, chapter 480; in 1984, chapter 601; in 1985, chapter 107; in 1988, chapter 15; in 1993, chapters 667 and 900; in 2008, chapters 851<\/a> and 871<\/a>; in 2019, chapter 712<\/a>.<\/p>","references":false,"refers_to":false,"permalink":{"id":1473921,"object_type":"law","relational_id":369475,"identifier":"55.1-1968","token":"55.1\/IV\/19\/3\/55.1-1968","url":"\/55.1-1968\/","edition_id":2,"permalink":0,"preferred":1},"url":"\/55.1-1968\/","token":"55.1\/IV\/19\/3\/55.1-1968","dublin_core":{"Title":"Bond to be posted by declarant","Type":"Text","Format":"text\/html","Identifier":"\u00a7 55.1-1968","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

A.<\/span> The declarant<\/span> of a condominium<\/span> containing units<\/span> that are required by this chapter to be registered with the Common Interest Community Board shall post a bond<\/span> in favor of the unit owners<\/span>’ association with good and sufficient surety<\/span>, in a sum equal to $1,000 per unit, except that such sum shall not be less than $10,000, nor more than $100,000. Such bond<\/span> shall be filed with the Common Interest Community Board and shall be maintained for so long as the declarant<\/span> owns more than 10 percent of the units<\/span> in the condominium<\/span> or, if the declarant<\/span> owns less than 10 percent of the units<\/span> in the condominium<\/span>, until the declarant<\/span> is current in the payment of assessments. However, the Board shall return a bond<\/span> where the declarant<\/span> owns one unit in a condominium<\/span> containing less than 10 units<\/span>, provided that such declarant<\/span> is current in the payment of assessments. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

B.<\/span> No bond<\/span> shall be accepted for filing unless it is with a surety<\/span> company authorized to do business in the Commonwealth or by such other surety<\/span> as is satisfactory to the Board, and such bond<\/span> shall be conditioned upon the payment of all assessments levied against condominium units<\/span> owned by the declarant<\/span>. The Board may accept a letter of credit in lieu of the bond<\/span> contemplated by this section.\n\t\t\tThe Board may promulgate reasonable regulations that govern the return of bonds<\/span> submitted in accordance with this section. <\/i><\/a><\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nBOND TO BE POSTED BY DECLARANT (\u00a7 55.1-1968)\n\nA. The declarant of a condominium containing units that are required by this\nchapter to be registered with the Common Interest Community Board shall post a\nbond in favor of the unit owners’ association with good and sufficient\nsurety, in a sum equal to $1,000 per unit, except that such sum shall not be\nless than $10,000, nor more than $100,000. Such bond shall be filed with the\nCommon Interest Community Board and shall be maintained for so long as the\ndeclarant owns more than 10 percent of the units in the condominium or, if the\ndeclarant owns less than 10 percent of the units in the condominium, until the\ndeclarant is current in the payment of assessments. However, the Board shall\nreturn a bond where the declarant owns one unit in a condominium containing less\nthan 10 units, provided that such declarant is current in the payment of\nassessments.\n\nB. No bond shall be accepted for filing unless it is with a surety company\nauthorized to do business in the Commonwealth or by such other surety as is\nsatisfactory to the Board, and such bond shall be conditioned upon the payment\nof all assessments levied against condominium units owned by the declarant. The\nBoard may accept a letter of credit in lieu of the bond contemplated by this\nsection.\n\t\t\tThe Board may promulgate reasonable regulations that govern the return of\nbonds submitted in accordance with this section.\n\nHISTORY: 1977, c. 428, \u00a7 55-79.84:1; 1981, c. 480; 1984, c. 601; 1985, c. 107;\n1988, c. 15; 1993, cc. 667, 900; 2008, cc. 851, 871; 2019, c. 712.","edition":{"id":2,"name":"2026","slug":"2026","date_created":"2026-07-16 18:40:23","date_modified":"2026-08-02 15:14:36","current":1,"order_by":2,"last_import":"2026-08-02 12:37:30"}}