Michigan Compiled Laws 346-1966-7 Chapter 7 (125.1491...125.1496)

• Section 125.1491 Limited Dividend Housing Association; Approval; Membership.
  Limited dividend housing association includes general or limited partnerships, limited liability companies, joint ventures, or trusts, as any such entities shall be approved by...
• Section 125.1492 Association Name.
  The term “limited dividend housing association” shall be included as part of the name of any limited dividend housing association. History: Add. 1970, Act...
• Section 125.1493 Limited Dividend Housing Association; Provisions Of Partnership Agreement, Joint Venture Agreement, Trust Agreement, Or Other Document Of Basic Organization.
  In addition to other requirements of law, the partnership agreement, joint venture agreement, trust agreement, or other document of basic organization of the limited...
• Section 125.1494 Surplus; Definition.
  As used in this chapter, the term “surplus” shall not be deemed to include any increase in assets of any limited dividend housing association...
• Section 125.1495 Managing Agent; Power Of Authority.
  The partnership agreement, joint venture agreement, trust agreement or other document of basic organization, as the case may be, shall provide that the authority...
• Section 125.1496 Basic Organization Document; Approval.
  Before any limited dividend housing association can receive any benefits as a result of qualifying under this act, the authority must approve the terms...

Last modified: October 10, 2016