Michigan Compiled Laws

Mich. Comp. Laws § 125.1491 (2026)

Limited dividend housing association; approval; membership.

✓ current as of July 2026

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STATE HOUSING DEVELOPMENT AUTHORITY ACT OF 1966

Act 346 of 1966

125.1491 Limited dividend housing association; approval; membership.

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.

History: Add. 1970, Act 129, Imd. Eff. July 29, 1970 ;-- Am. 1996, Act 475, Imd. Eff. Dec. 26, 1996

Compiler's Notes:

For transfer of Michigan state housing development authority from Michigan strategic fund to department of talent and economic development, see E.R.O. No. 2014-6, compiled at MCL 125.1995.

Notes of Decisions

Cited in 1 case, 2003–2003 · leading case: Parkwood Ltd. Dividend Hous. Ass'n v. State Hous. Dev. Auth., 671 N.W.2d 144 (Mich. Ct. App. 2003).

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Parkwood Ltd. Dividend Hous. Ass'n v. State Hous. Dev. Auth., 671 N.W.2d 144 (Mich. Ct. App. 2003). · cites it 2× “To qualify for the mortgage, plaintiff was organized as a limited dividend housing association pursuant to MCL 125.1491. The parties also executed a “regulatory agreement” relating to the operation of the mortgaged property.”

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