The declaration may require that all or a specified number or percentage of the lenders who hold security interests 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 executive board; or (ii) prevent the association or the executive board from commencing, intervening in, or settling any litigation or proceeding; or (iii) prevent any insurance trustee or the association from receiving and distributing any insurance proceeds except pursuant to section 3-113.
Structure West Virginia Code
Chapter 36B. Uniform Common Interest Ownership Act
Article 2. Creation, Alteration and Termination of Common Interest Communities
§36B-2-101. Creation of Common Interest Communities
§36B-2-103. Construction and Validity of Declaration and Bylaws
§36B-2-104. Description of Units
§36B-2-105. Contents of Declaration
§36B-2-106. Leasehold Common Interest Communities
§36B-2-107. Allocation of Allocated Interests
§36B-2-108. Limited Common Elements
§36B-2-110. Exercise of Development Rights
§36B-2-111. Alterations of Units
§36B-2-112. Relocation of Boundaries Between Adjoining Units
§36B-2-113. Subdivision of Units
§36B-2-114. Monuments as Boundaries
§36B-2-115. Use for Sales Purposes
§36B-2-117. Amendment of Declaration
§36B-2-118. Termination of Common Interest Community
§36B-2-119. Rights of Secured Lenders
§36B-2-120. Master Associations
§36B-2-121. Merger or Consolidation of Common Interest Communities