Mich. Admin. Code R. 559.502 - Administration and membership provisions
Rule 502.
(1) The
bylaws shall designate the association of co-owners as responsible for the
management and administration of the common elements, property, easements, and
the affairs of the condominium project. The association of co-owners may form
or organize an entity for managing the property or otherwise provide for
independent management of the project. The bylaws shall indicate the form of
the association of co-owners; that is, whether it was created and will operate
as a profit or nonprofit corporation, a partnership, or an unincorporated
association.
(2) The bylaws may
provide reasonable provisions to facilitate the development and sale of the
project by the developer until completion of the project.
(3) The bylaws shall comply with section 52
of the act.
(4) The bylaws shall
provide that membership in the association of co-owners shall be limited to
persons who own 1 or more units in the condominium project and each co-owner
shall be a member of the association of co-owners.
Notes
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