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Texas Property Code - PROP § 82.069. Rights of Secured Lenders

Current as of January 01, 2024 | Updated by Findlaw Staff

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 a requirement for approval may not operate to:

(1) deny or delegate control over the general administrative affairs of the association by the unit owners or the board;  or

(2) prevent the association or the board from:

(A) commencing, intervening in, or settling any litigation or proceeding;  or

(B) receiving and distributing insurance proceeds under Section 82.111.

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Cite this article: FindLaw.com - Texas Property Code - PROP § 82.069. Rights of Secured Lenders - last updated January 01, 2024 | https://codes.findlaw.com/tx/property-code/prop-sect-82-069/

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