§ 34-36.1-2.19. Rights of secured lenders.
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:
(1) Deny or delegate control over the general administrative affairs of the association by the unit owners or the executive board, or
(2) Prevent the association or the executive board from commencing, intervening in, or settling any litigation or proceedings, or receiving and distributing any insurance proceeds except pursuant to § 34-36.1-3.13.
History of Section.P.L. 1982, ch. 329, § 2.
Structure Rhode Island General Laws
Chapter 34-36.1 - Condominium Law
Article II - Creation, Alteration, and Termination of Condominiums
Section 34-36.1-2.01. - Creation of condominium.
Section 34-36.1-2.02. - Unit boundaries.
Section 34-36.1-2.03. - Construction and validity of declaration and bylaws.
Section 34-36.1-2.04. - Description of units.
Section 34-36.1-2.05. - Contents of declaration.
Section 34-36.1-2.06. - Leasehold condominiums.
Section 34-36.1-2.08. - Limited common elements.
Section 34-36.1-2.09. - Plats and plans.
Section 34-36.1-2.10. - Exercise of development rights.
Section 34-36.1-2.11. - Alterations of units.
Section 34-36.1-2.12. - Relocation of boundaries between adjoining units.
Section 34-36.1-2.13. - Subdivisions of units.
Section 34-36.1-2.14. - Easement for encroachments.
Section 34-36.1-2.15. - Use for sales purposes.
Section 34-36.1-2.16. - Easement rights.
Section 34-36.1-2.17. - Amendment of declaration.
Section 34-36.1-2.18. - Termination of a condominium.
Section 34-36.1-2.19. - Rights of secured lenders.
Section 34-36.1-2.20. - Master associations.
Section 34-36.1-2.21. - Merger or consolidation of condominiums.