Virginia Senate Bill 706 (Prior Session Legislation)

---

Spectrum: Partisan Bill (Democrat 1-0)
Status: Introduced on January 10 2018 - 25% progression, died in chamber
Action: 2018-01-22 - Passed by indefinitely in General Laws and Technology with letter (10-Y 0-N)
Text: Latest bill text (Prefiled) [HTML]

Common interest communities; reserves for capital Common interest communities; reserves for capital components; budget. Requires the budget for a common interest community to include a statement detailing the amount of any shortage or excess of total cash reserves, as indicated by the five-year cash reserves study, and the amount of such shortage or excess per capita for each member of the association. The bill also provides that the failure of any member of the governing body or officer of the association to comply with provisions relating to reserves for capital components shall constitute prima facie evidence of a breach of fiduciary duty on the part of the board member or officer.

Common interest communities; reserves for capital components, budget.

Sen. Scott Surovell [D]

2018-01-22 - Senate - Senate: Passed by indefinitely in General Laws and Technology with letter (10-Y 0-N) (Y: 10 N: 0 NV: 0 Abs: 0) [PASS]

Date	Chamber	Action
2018-01-22	Senate	Passed by indefinitely in General Laws and Technology with letter (10-Y 0-N)
2018-01-10	Senate	Referred to Committee on General Laws and Technology
2018-01-10	Senate	Prefiled and ordered printed; offered 01/10/18 18104654D

Type	Source
Summary	https://lis.virginia.gov/cgi-bin/legp604.exe?181+sum+SB706
Text	https://lis.virginia.gov/cgi-bin/legp604.exe?181+ful+SB706+hil
Roll Call	https://lis.virginia.gov/cgi-bin/legp604.exe?181+vot+S12V0029+SB0706