The public offering statement shall include a section captioned "Restrictions on Transfer." The section shall describe and explain limitations on leasing or other restraints on free alienability created by the time-share instrument or the rules and regulations of the association that affect a time-share owner's right to resell, lease, or otherwise transfer an interest in the time-share.

Statutory Authority

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

Historical Notes

Derived from Virginia Register Volume 32, Issue 10, eff. March 1, 2016; amended, Virginia Register Volume 37, Issue 3, eff. December 1, 2020.