Condominium Act; penalties. (SB1374)

Introduced By

Sen. Bill DeSteph (R-Virginia Beach)

Progress

Introduced
Passed Committee
Passed House
Passed Senate
Signed by Governor
Became Law

Description

Condominium Act; penalties. Provides that any person who willfully violates any provision of the Condominium Act is guilty of a misdemeanor the penalty for which, for each such violation, is (i) a fine of not less than $1,000 or double the amount of gain from the transaction, whichever is greater, but not more than $50,000; (ii) a jail sentence of not more than six months; or (iii) the penalties in both clauses (i) and (ii). Under current law, this penalty is applicable to certain provisions of the Act, including failure to comply with filing and registration requirements, public offering statements, and escrow of deposits. Read the Bill »

Outcome

Bill Has Failed

History

DateAction
01/08/2019Prefiled and ordered printed; offered 01/09/19 19100293D
01/08/2019Referred to Committee on General Laws and Technology
01/14/2019Impact statement from DPB (SB1374)
01/21/2019Passed by indefinitely in General Laws and Technology (10-Y 4-N) (see vote tally)

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