PjW,
The short answer is - I don't think so. If you read the laws surrounding the VA CICB, they do not have that type of authority. Even if the CICB suggested regs/laws are adopted, I didn't see anything that gave them that authority. You may want to contact the CICB Ombudsman to be positive.
However, be aware that they might end up with fining ability.
If you didn't have it, here is the link to VA CICB:
http://www.dpor.virginia.gov/dporweb/cic_main.cfm I would like to point out that it is possible for an Association to be dissolved. Usually this requires common area like roads and playgrounds to be transferred to the city/county. Then the membership must vote for dissolving the corporation. However, if your CC&R's require an Association, you must first amend the CC&Rs.
You might want to point out to the individual that getting rid of the Association does not get rid of the CC&Rs. Therefore, people will still have to comply with them. The difference would be that the enforcement would be done by neighbors bringing legal action against the violators.
Tim