Virginia Code 59.1-297.1: Payment and calculation of refunds
A. All refunds for cancellation of membership shall be paid within 30 days of the health club‘s receipt of written notice of cancellation by the buyer and calculated by:
Terms Used In Virginia Code 59.1-297.1
- Buyer: means a natural person who enters into a health club contract. See Virginia Code 59.1-296
- Contract: A legal written agreement that becomes binding when signed.
- Facility: means a location where health club services are offered as designated in a health club contract. See Virginia Code 59.1-296
- Health club: means any person, firm, corporation, organization, club or association whose primary purpose is to engage in the sale of memberships in a program consisting primarily of physical exercise with exercise machines or devices, or whose primary purpose is to engage in the sale of the right or privilege to use exercise machines or devices. See Virginia Code 59.1-296
- Health club contract: means an agreement whereby the buyer of health club services purchases, or becomes obligated to purchase, health club services. See Virginia Code 59.1-296
- Health club services: means and includes services, privileges, or rights offered for sale or provided by a health club. See Virginia Code 59.1-296
- Out of business: means the status of a facility that is permanently closed and for which there is no comparable alternate facility. See Virginia Code 59.1-296
1. Dividing the contract price by the term of the contract in days;
2. Multiplying the number obtained in subdivision 1 by the number of days between the effective date of the contract and the date of cancellation; and
3. Subtracting the number obtained in subdivision 2 from the total price paid on the health club contract.
B. In the event of the health club going out of business, the date of cancellation shall be the date the health club ceased providing health club services at the facility.
C. A health club issuing a refund to a buyer under this chapter shall do so within 30 days of the health club receiving a notice of cancellation pursuant to § 59.1-297, or within 30 days of the permanent closing of the facility designated in the buyer’s contract.