Alabama § 35-8A-219 Rights of Secured Lenders

Alabama Statutes

§ 35-8A-219 — Rights of Secured Lenders

Alabama·Title 35 Property·Ch. 8A Alabama Uniform Condominium Act·Art. 2 Creation, Alteration, and Termination of Condominiums

The declaration may require that all or a specified number or percentage of the mortgagees or beneficiaries of deeds of trust encumbering the units approve specified actions of the unit owners or the association as a condition to the effectiveness of those actions, but no requirement for approval may operate to (i) deny or delegate control over the general administrative affairs of the association by the unit owners or the board, or (ii) prevent the association or the board from commencing, intervening in, or settling any litigation or proceeding, or receiving and distributing any insurance proceeds except pursuant to section 35-8A-313.

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The declaration may require that all or a specified number or percentage of the mortgagees or beneficiaries of deeds of trust encumbering the units approve specified actions of the unit owners or the association as a condition to the effectiveness of those actions, but no requirement for approval may operate to (i) deny or delegate control over the general administrative affairs of the association by the unit owners or the board, or (ii) prevent the association or the board from commencing, intervening in, or settling any litigation or proceeding, or receiving and distributing any insurance proceeds except pursuant to section 35-8A-313.

Alabama § 35-8A-219 (Rights of Secured Lenders) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.