Section 55.1-2243 - Termination of registrationA. In a time-share estate program, if the annual report indicates that the developer has transferred title to the time-share owners' association and that no further development rights exist, the Board shall issue an order terminating the registration of the time-share program.B. The Board shall issue an order terminating the registration of a time-share program upon application by the developer in which the developer states that no further development right is anticipated and that the developer has ceased sales of time-shares in the time-share program.C. Notwithstanding any other provisions of this chapter, the Board may administratively terminate the registration of a time-share program if:1. The developer has not filed an annual report in accordance with § 55.1-2242 for three or more consecutive years; or2. The developer's registration with the State Corporation Commission, if applicable, has not been active for five or more consecutive years. 2012, cc. 481, 797, § 55-394.2; 2019, c. 712; 2020, c. 1011.Amended by Acts 2020 c. 1011, § 1, eff. 7/1/2020.Added by Acts 2019 c. 712, § 1, eff. 10/1/2019.