MI SB0901

Allows developers and claimants to execute arbitration contracts for any claims that might be subject to civil action.

Requires developers to arbitrate claims by purchasers, co-owners, or restricted unit occupants involving amounts less than $2,500 arising from purchase agreements, condominium units, or projects.

Requires developers to arbitrate claims by condominium associations involving $10,000 or less relating to common elements of condominium projects.

Arbitrations must be conducted by an arbitration association according to the Uniform Arbitration Act, with costs allocated as provided by the association's rules and arbitration awards binding on all parties.

Takes effect July 1, 2013, contingent upon Senate Bill No. 903 of the 96th Legislature being enacted into law.