Mich. Comp. Laws » Michigan Compiled Laws / Chapter 559 / Act 59 of 1978
Michigan Compiled Laws

Mich. Comp. Laws § 559.157 (2026)

Books, records, contracts, and financial statements; examination; audit or review; opt-out of requirements of subsection (2).

✓ current as of July 2026
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CONDOMINIUM ACT


Act 59 of 1978


559.157 Books, records, contracts, and financial statements; examination; audit or review; opt-out of requirements of subsection (2).

Sec. 57.

    (1) The books, records, contracts, and financial statements concerning the administration and operation of the condominium project shall be available for examination by any of the co-owners and their mortgagees at convenient times.

    (2) Except as provided in subsection (3), an association of co-owners with annual revenues greater than $20,000.00 shall on an annual basis have its books, records, and financial statements independently audited or reviewed by a certified public accountant, as defined in section 720 of the occupational code, 1980 PA 299, MCL 339.720. The audit or review shall be performed in accordance with the statements on auditing standards or the statements on standards for accounting and review services, respectively, of the American institute of certified public accountants.

    (3) An association of co-owners may opt out of the requirements of subsection (2) on an annual basis by an affirmative vote of a majority of its members by any means permitted under the association's bylaws.

History: 1978, Act 59, Eff. July 1, 1978 ;-- Am. 2013, Act 134, Eff. Jan. 14, 2014

Notes of Decisions
Cited in 7 cases (2 in the last 5 years), 2017–2025 · leading case: Marc Goodson v. Hugh Cairns (Mich. Ct. App. 2020).
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John R Vidolich II v. Saline Northview Condo. Ass'n (Mich. Ct. App. 2017). · cites it 2× “” Pursuant to MCL 559.157(1) of the Condominium Act, “The books, records, contracts, and financial statements concerning the administration and operation of the condominium project shall be available for examination by any of the co-owners and their mortgagees at convenient…”
John R Vidolich II v. Saline Northview Condo. Ass'n (Mich. Ct. App. 2017). · cites it 2× “” Pursuant to MCL 559.157(1) of the Condominium Act, “The books, records, contracts, and financial statements concerning the administration and operation of the condominium project shall be available for examination by any of the co-owners and their mortgagees at convenient…”
Marc Goodson v. Hugh Cairns (Mich. Ct. App. 2020). · cites it 2× “He alleged that he had requested access to the financial books and records as a co-owner, but defendants failed to make the documents available for inspection in violation of MCL 559.157. He argued that MCL 559.207 provided that a co-owner may maintain an action against the…”
Main Street Lofts Condo. Ass'n v. Oscar Franco Parodi (Mich. Ct. App. 2023). · cites it 2× “-5- In support of his argument, defendant cites his right under MCL 559.157(1) to inspect the “books, records, contracts, and financial statements concerning the administration and operation of the condominium project.”
Northpointe Townhomes Condo. Ass'n v. Megmad Fam. Trust (E.D. Mich. 2025). · cites it 2× “” Mich. Comp. Laws § 559.157 (1); Bafna v. Echo Valley Condo.”
Shalbhadra Bafna v. Brynmawr Condo. Ass'n (Mich. Ct. App. 2018). “Plaintiff alleged that defendant’s acts violated the association bylaws and MCL 559.157, which is contained within -1- the Michigan Condominium Act, MCL 559.”
Reserve at Heritage Vill. Assn v. Warren Fin. Acquisition (Mich. Ct. App. 2018). “The statute governing this issue is MCL 559.157(2), which states: Except as provided in subsection (3), an association of co-owners with annual revenues greater than $20,000.”
— Mich. Comp. Laws § 559.157(1) — 3 cases
John R Vidolich II v. Saline Northview Condo. Ass'n (Mich. Ct. App. 2017). “” Pursuant to MCL 559.157(1) of the Condominium Act, “The books, records, contracts, and financial statements concerning the administration and operation of the condominium project shall be available for examination by any of the co-owners and their mortgagees at convenient…”
John R Vidolich II v. Saline Northview Condo. Ass'n (Mich. Ct. App. 2017). “” Pursuant to MCL 559.157(1) of the Condominium Act, “The books, records, contracts, and financial statements concerning the administration and operation of the condominium project shall be available for examination by any of the co-owners and their mortgagees at convenient…”
Main Street Lofts Condo. Ass'n v. Oscar Franco Parodi (Mich. Ct. App. 2023). “-5- In support of his argument, defendant cites his right under MCL 559.157(1) to inspect the “books, records, contracts, and financial statements concerning the administration and operation of the condominium project.”
— Mich. Comp. Laws § 559.157(2) — 1 case
Reserve at Heritage Vill. Assn v. Warren Fin. Acquisition (Mich. Ct. App. 2018). “The statute governing this issue is MCL 559.157(2), which states: Except as provided in subsection (3), an association of co-owners with annual revenues greater than $20,000.”
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