Oppose HB 5655 – “Annual Budget Meeting” of Co-Owners and More (MI)

This bill would amend the Michigan Condominium Act to add a requirement that a condominium association must obtain majority co-owner approval of the annual budget at an “annual budget meeting” of the co-owners. The result of the co-owners’ refusal to approve the annual budget would result in an association not being able to pay its bills, which would derail the successful administration and operation of the condominium development, and it would depreciate the value and marketability of the individual condominium units.    Read the article………….


Related Articles

Transitioning From Developer Control to Non-developer Control Co-owner Control: Five Practical Steps Every Associations Should Take

Every community association in Michigan undergoes a transition or “turnover” phase whereby the control of the community association changes from

Michigan Condominiums and the Rights of the Disabled

Michigan Condominium Association Boards regularly receive requests and complaints regarding condominium access from co-owners or guests who suffer (or claim to