For purposes of the cooperative, there shall only be one member per housing unit. In the case of married couples, the spouses shall determine which one shall be the member. However, in the event of a divorce, all matters concerning titles and ownership shall be governed by § 4617 of this title. No member may be the member-owner of more than one housing unit.
Prior to their enrollment in the regime, the member-owner or residents shall be provided with a document that explains all their duties and responsibilities, including any situations that would entail the loss of the property rights.
History —Sept. 1, 2004, No. 239, § 35A.26.