My elevator is old, am I not grandfathered?

The Building Code (Virginia Uniform Statewide Building Code (USBC) - 2012 Virginia Maintenance Code) applies to the buildings’ maintenance.  This code sets minimum standards in which all buildings must meet.  However, the standards may vary depending on the installation date of the elevator.  Elevators installed after September 1973 must comply with the code in effect at installation.  Elevators installed before September 1973 must comply with the minimum safety standards of the USBC-2012 Virginia Maintenance Code.  All elevators must receive an inspection if they are in operation.

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1. Why do elevators need to be inspected?
2. My elevator is old, am I not grandfathered?
3. Who will be inspecting the elevators?
4. How much is this going to cost?
5. What needs to be inspected?
6. How long are certificates valid?