Mich. Admin. Code R. 559.507
Current through Vol. 24-15, September 1, 2024
Rule 507. The bylaws shall provide that a co-owner who mortgages his or her unit shall notify the association of co-owners of the name and address of the mortgagee, and that the association of co-owners shall maintain such information in a book entitled, "Mortgages of Units." The association of co-owners may notify the mortgagee of unpaid assessments due from the co-owner of such unit. The association of co-owners shall furnish an individual mortgagee with complete information on all insurance carried by the association of co-owners.
Mich. Admin. Code R. 559.507