70-23-609. Foreclosure on unit -- payment of rent -- purchase of unit by manager. (1) In any foreclosure suit against a unit, the unit owner shall be required to pay a reasonable rental for the unit if so provided in the bylaws, and the plaintiff in such foreclosure shall be entitled to the appointment of a receiver to collect the rent.
(2) The manager acting on behalf of the unit owners shall have power, unless prohibited by the declaration, to bid on the unit at the foreclosure sale and to acquire and hold, lease, mortgage, and convey the same.
History: En. Sec. 28, Ch. 120, L. 1965; R.C.M. 1947, 67-2328; amd. Sec. 6, Ch. 84, L. 1983.