• Common Interest Community Board

    Time-Share Guidance Documents for Public Comment

    The Common Interest Community Board wants to hear from you!

    At its meeting on June 7, 2018, the Common Interest Community Board approved two guidance documents that apply to the Board’s time-share registrations. Before finalizing the documents, the Board is seeking public comments on the two documents. 

    Any comments received will be presented to the Board at its next meeting on September 6, 2018. If no comments are received, the guidance documents will become effective at the close of the comment period. 

    Please take a moment to review the two documents at the links below and submit your comments by July 19, 2018, through one of the following methods:

    Online:  Virginia Regulatory Town Hall
    http://www.townhall.virginia.gov/L/Forums.cfm 
    Email:  CIC@dpor.virginia.gov
    ATTN: Joseph Haughwout, Board Administrator
    FAX:  (866) 490-2723
    ATTN: Joseph Haughwout, Board Administrator
    U.S. Mail:  Joseph Haughwout, Board Administrator
    Common Interest Community Board 
    Department of Professional and Occupational Regulation
    9960 Mayland Drive, Suite 400
    Richmond, VA  23233

    “Determining Value of Blanket Surety Bonds Filed by Developers in Lieu of Escrowing Deposits” 
    • This guidance document is a result of legislation passed during the 2018 General Assembly session. HB 674 and SB 443 changed the existing requirements for (i) escrow of deposits for time-share purchases, and (ii) the bond or letter of credit required to be filed with the Board to insure escrow deposits.  

    “Time-Share Public Offering Statements Delivered by Way of Alternative Media; Purchaser Opportunity to Review Public Offering Statement Prior to Execution of a Contract” 
    • This guidance document streamlines and clarifies the process for developers who choose to deliver public offering statements for time-share purchases via alternative media. 

    Please contact the Board office at (804) 367-8510 or by email if you need additional information regarding the guidance documents.