This form is a generic example that may be referred to when preparing such a form for your particular state. It is for illustrative purposes only. Local laws should be consulted to determine any specific requirements for such a form in a particular jurisdiction.
Michigan Parking License Granted by Owners Association of Condominium
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US-02285BG
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FAQ
Section 57 of the Act provides that all books, records, contracts, and financial statements concerning the administration and operation of the condominium project shall be available for examination by any of the co-owners at convenient times.
Sec. 47. (1) Subject to the prohibitions and restrictions in the condominium documents, a co-owner may make improvements or alterations within a condominium unit that do not impair the structural integrity of a structure or otherwise lessen the support of a portion of the condominium project.
The enforcing agency may be a local building department or the state Department of Licensing and Regulatory Affairs.
90a. (1) To the extent this act or the condominium documents require a vote of mortgagees of units on amendment of the condominium documents, the procedure described in this section applies. (2) The date on which the proposed amendment is approved by the requisite majority of co-owners is considered the ?control date?.
Sec. 67. (1) A change in a condominium project shall be reflected in an amendment to the appropriate condominium document. An amendment to the condominium document is subject to sections 90, 90a, and 91.
The Condominium Act, (Section 52), describes the procedure for transitioning from the developer to the association of co-owners for the governing of the development. (Also see ?Election of Association of Co-owners Board of Directors? later in this handbook.)
Sec. 47. (1) Subject to the prohibitions and restrictions in the condominium documents, a co-owner may make improvements or alterations within a condominium unit that do not impair the structural integrity of a structure or otherwise lessen the support of a portion of the condominium project.
Michigan Reserve Study Legislation & HOA Reserve Fund Laws Section 559.205. The state administrative code requires the co-owners' association to maintain a reserve fund which, at a minimum, shall be equal to 10% of the association's current annual budget on a noncumulative basis.