Virginia Code 55.1-1940.1: Termination and duration of certain management contracts
Current as of: 2023 | Check for updates
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A management contract that contains an automatic renewal provision may be terminated by the unit owners’ association or the common interest community manager at any time without cause upon not less than 60 days’ written notice.
Terms Used In Virginia Code 55.1-1940.1
- Common interest community manager: means the same as that term is defined in § 54. See Virginia Code 55.1-1900
- Contract: A legal written agreement that becomes binding when signed.
- Unit: means a portion of the condominium designed and intended for individual ownership and use. See Virginia Code 55.1-1900
2023, c. 109.