California Law (Last Updated: March 4, 2014) |
Health and Safety Code - HSC |
Division 31. HOUSING AND HOME FINANCE |
Part 1. STATE HOUSING POLICY AND GENERAL PROVISIONS |
Chapter 2. Definitions |
Section 50091.
Latest version.
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"Nonprofit housing sponsor" or "nonprofit corporation" means a nonprofit corporation incorporated pursuant to Division 2 (commencing with Section 5000) of Title 1 of the Corporations Code or a corporation or association which is, or will be qualified as, a cooperative housing corporation for purposes of subdivision (a) of Section 17265 of the Revenue and Taxation Code, a nonprofit student housing cooperative, or a limited equity housing cooperative and which is certified by the agency as qualified to own a housing development if financed or assisted by the agency. However, a limited equity housing cooperative shall not be deemed to be nonprofit for the purpose of Chapter 10 (commencing with Section 50775).
(Amended by Stats. 1981, Ch. 1165.)