January 24, 2012, Introduced by Senator SCHUITMAKER and referred to the Committee on Judiciary.
A bill to amend 1978 PA 59, entitled
"Condominium act,"
by amending section 144 (MCL 559.244), as added by 1982 PA 538.
THE PEOPLE OF THE STATE OF MICHIGAN ENACT:
Sec. 144. (1) A contract to settle by arbitration may be
executed by the developer and any claimant with respect to any
claim against the developer that might be the subject of a civil
action.
(2) At the exclusive option of a purchaser, co-owner, or
person occupying a restricted unit under section 104b, the
developer
shall execute a contract to settle by
arbitration shall
be
executed by the developer with respect to any claim that might
be
the subject of a civil action against the developer, which claim
involves an amount less than $2,500.00, and arises out of or
relates to a purchase agreement, condominium unit, or project.
(3) At the exclusive option of the association of co-owners,
the developer shall execute a contract to settle by arbitration
shall
be executed by the developer with respect to any claim that
might
be the subject of a civil action against the developer, which
claim
arises out of or relates to the
common elements of a
condominium
project, if the and
involves an amount of the claim is
$10,000.00 or less.
(4) The period of limitations prescribed by law for the
bringing
of a civil action shall apply equally applies to the
execution of a contract to settle by arbitration under this
section.
(5) All costs of arbitration under this section shall be
allocated in the manner provided by the arbitration association.
(6) A contract to settle by arbitration under this section
shall specify that the arbitration be conducted by the arbitration
association. shall
conduct the arbitration.
(7)
The method of appointment of the arbitrator or arbitrators
of
an arbitration under this section shall
be pursuant to appointed
as provided by reasonable rules of the arbitration association.
(8) Arbitration under this act shall proceed according to
sections
5001 to 5065 of Act No. 236 of the Public Acts of 1961,
being
sections 600.5001 to 600.5065 of the Michigan Compiled Laws,
which
the uniform arbitration act. The
procedures of the uniform
arbitration act may be supplemented by reasonable rules of the
arbitration association.
(9)
An arbitration award shall be entered
in an arbitration
under this section is binding on the parties to the arbitration.
Enacting section 1. This amendatory act does not take effect
unless Senate Bill No. 903
of the 96th Legislature is enacted into law.