Investment control; single-family home.

Sec. 5. For purposes of this act, an entity has direct or indirect investment control over a single-family home if any of the following apply: (a) The entity owns or has primary authority or fiduciary responsibility to make material investment or management decisions relating to the single-family home. (b) The entity is, or directly or indirectly controls, the general partner or managing member of the entity that owns the single-family home. (c) The entity is or controls the investment manager, management company, or investment advisor of the entity that owns the single-family home. (d) The entity owns or controls more than 25% of any class of equity interests of the entity that owns the single-family home, unless the entity is a passive investor. (e) The entity otherwise controls the entity that owns the single-family home.