Sec. 91. Limited dividend housing association includes general or limited partnerships, limited liability companies, joint ventures, or trusts, as any such entities shall be approved by resolution of the authority. Members of a limited dividend housing association shall include each and all persons with a legal or beneficial interest of any kind in a limited dividend housing association or its assets.
Mich. Comp. Laws § 125.1491
Limited dividend housing association; approval; membership
Applied in 1 court decision — leading case 258 Mich. App. 495 - Parkwood Limited Dividend Housing Ass'n v. State Housing Development Authority (2003)
Most recently applied in 258 Mich. App. 495 - Parkwood Limited Dividend Housing Ass'n v. State Housing Development Authority (November 2003)
Add. 1970, Act 129, Imd
Official source: Michigan Legislature. Reproduced from public-domain Michigan statutes; confirm against the official source for the current text. Not legal advice.