Mo. Rev. Stat. § 448.2-119
Rights of secured lenders
Missouri · Revised Statutes of Missouri Chapter 448 — Condominium Property · Status: effective · Effective 1983-08-28
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- Citation
- Mo. Rev. Stat. § 448.2-119, Rights of secured lenders, Missouri, version 1 as recorded 2026-09-29, yourstate.us, https://yourstate.us/provision/1817341
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Full text
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 proceeding, or receiving and distributing any insurance proceeds except pursuant to section 448.3-113.