No association shall make any management contract with any person or persons extending for more than three (3) years. Contracts in excess of one (1) year shall first be approved by the commissioner. No such contract shall permit an association to be managed on a commission basis.
Sources: Laws, 1977, ch. 445, § 28; reenacted, 1982, ch. 301, § 47; Laws, 1990 Ex Sess, ch. 52, § 48; Laws, 1993, ch. 441, § 48; Laws, 1994, ch. 622, § 80; reenacted without change, Laws, 1997, ch. 496, § 45; reenacted without change, Laws, 2001, ch. 488, § 47, eff from and after July 1, 2001.
No association shall make any management contract with any person or persons extending for more than three (3) years. Contracts in excess of one (1) year shall first be approved by the commissioner. No such contract shall permit an association to be managed on a commission basis.
Sources: Laws, 1977, ch. 445, § 28; reenacted, 1982, ch. 301, § 47; Laws, 1990 Ex Sess, ch. 52, § 48; Laws, 1993, ch. 441, § 48; Laws, 1994, ch. 622, § 80; reenacted without change, Laws, 1997, ch. 496, § 45; reenacted without change, Laws, 2001, ch. 488, § 47, eff from and after July 1, 2001.
No association shall make any management contract with any person or persons extending for more than three (3) years. Contracts in excess of one (1) year shall first be approved by the commissioner. No such contract shall permit an association to be managed on a commission basis.
Sources: Laws, 1977, ch. 445, § 28; reenacted, 1982, ch. 301, § 47; Laws, 1990 Ex Sess, ch. 52, § 48; Laws, 1993, ch. 441, § 48; Laws, 1994, ch. 622, § 80; reenacted without change, Laws, 1997, ch. 496, § 45; reenacted without change, Laws, 2001, ch. 488, § 47, eff from and after July 1, 2001.
