18 Va. Admin. Code § 48-45-240

Current through Register Vol. 41, No. 6, November 4, 2024

Section 18VAC48-45-240 - Narrative sections; exchange program

If any prospective purchaser is offered the opportunity to subscribe to or participate in any exchange program, the public offering statement shall contain a section captioned "Exchange Program" that shall include the following:

1. A statement of whether membership or participation in the exchange program is voluntary or mandatory; and

2. A statement that the purchaser's contract with the exchange company is a contract separate and distinct from the purchaser's contract with the developer and whether there is a fee associated with membership or participation in the exchange program.

18 Va. Admin. Code § 48-45-240

Derived From Virginia Register Volume 32, Issue 10, eff. 3/1/2016; Amended, Virginia Register Volume 37, Issue 03, eff. 12/1/2020.

Statutory Authority: §§ 54.1-2349 and 55.1-2247 of the Code of Virginia.