Section 559.205 - Reserve fund.
CONDOMINIUM ACT (EXCERPT)
Act 59 of 1978
559.205 Reserve fund.
Sec. 105.
A reserve fund for major repairs and replacement of common elements shall be maintained by the associations of co-owners. The administrator may by rule establish minimum standards for reserve funds.
History: 1978, Act 59, Eff. July 1, 1978