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 […]
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 […]
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
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: […]
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 […]
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. […]
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 […]
