Section 125.1498 – Applicability of Chapter to Mobile Home Park Associations.
125.1498 Applicability of chapter to mobile home park associations. Sec. 98. This chapter shall apply to mobile home park associations receiving benefits under this act. History: Add. 1982, Act 534, Imd. Eff. Dec. 31, 1982 ;– Am. 1983, Act 217, Imd. Eff. Nov. 16, 1983 Compiler’s Notes: For transfer of Michigan state housing development authority […]
Section 125.1498a – Mobile Home Park Association; Included Entities; Approval; Membership.
125.1498a Mobile home park association; included entities; approval; membership. Sec. 98a. A mobile home park association includes general or limited partnerships, limited liability companies, joint ventures, or trusts, as any such entities may be approved by resolution of the authority. Members of a mobile home park association shall include each and all persons with a […]
Section 125.1498b – Mobile Home Park Association Name.
125.1498b Mobile home park association name. Sec. 98b. The term “mobile home park association” shall be included as part of the name of any mobile home park association. History: Add. 1982, Act 534, Imd. Eff. Dec. 31, 1982 ;– Am. 1983, Act 217, Imd. Eff. Nov. 16, 1983
Section 125.1498c – Mobile Home Park Association; Provisions of Partnership Agreement, Joint Venture Agreement, Trust Agreement, or Other Document of Basic Organization.
125.1498c Mobile home park association; provisions of partnership agreement, joint venture agreement, trust agreement, or other document of basic organization. Sec. 98c. In addition to other requirements of law, the partnership agreement, joint venture agreement, trust agreement, or other document of basic organization of the mobile home park association shall provide all of the following: […]
Section 125.1498d – Document of Basic Organization; Managing Agent; Appointment; Powers; Conditions.
125.1498d Document of basic organization; managing agent; appointment; powers; conditions. Sec. 98d. The partnership agreement, joint venture agreement, trust agreement, or other document of basic organization shall provide that the authority may appoint a managing agent of the mobile home park association and its members, who may be an officer, employee, or agent of the […]
Section 125.1498e – Document of Basic Organization; Approval of Terms.
125.1498e Document of basic organization; approval of terms. Sec. 98e. Before any mobile home park association can receive any benefits as a result of qualifying under this act, the authority must approve the terms of the partnership agreement, joint venture agreement, trust agreement, or other document of basic organization. History: Add. 1982, Act 534, Imd. […]
Section 125.1498f – “Surplus” Construed.
125.1498f “Surplus” construed. Sec. 98f. As used in this chapter, the term “surplus” shall not be deemed to include any increase in assets of any mobile home park association organized in accordance with the provisions of this chapter, by reason of reduction of mortgage, by amortization or similar payments, or realized from the sale or […]
Section 125.1499 – Mutual Housing Association Generally.
125.1499 Mutual housing association generally. Sec. 99. A mutual housing association shall be a nonprofit corporation or cooperative corporation incorporated pursuant to the laws of this state or authorized to transact business in this state that operates in accordance with this chapter. History: Add. 1989, Act 220, Imd. Eff. Dec. 11, 1989 Compiler’s Notes: For […]
Section 125.1496 – Basic Organization Document; Approval.
125.1496 Basic organization document; approval. Sec. 96. Before any limited dividend housing association can receive any benefits as a result of qualifying under this act, the authority must approve the terms of the partnership agreement, joint venture agreement, trust agreement or other document of basic organization. History: Add. 1970, Act 129, Imd. Eff. July 29, […]
Section 125.1499a – Mutual Housing Association; Corporate Name.
125.1499a Mutual housing association; corporate name. Sec. 99a. The term “cooperative” or “mutual housing association” shall be included as a part of the corporate name as set forth in the certificate of incorporation of a mutual housing association. History: Add. 1989, Act 220, Imd. Eff. Dec. 11, 1989