Sec. 1.7. (a) As used in this chapter, “community based organization” means a private, nonprofit corporation whose board of directors is comprised of business, civic, and community leaders, and whose principal purpose includes the provision of low income housing.

lawyer at desk

Ask a legal question, get an answer ASAP!
Click here to chat with a lawyer about your rights.

Terms Used In Indiana Code 4-4-28-1.7

  • community based organization: means a private, nonprofit corporation whose board of directors is comprised of business, civic, and community leaders, and whose principal purpose includes the provision of low income housing. See Indiana Code 4-4-28-1.7
  • community development corporation: means a private, nonprofit corporation:

    Indiana Code 4-4-28-2

  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
     (b) A community based organization shall not be construed to have the same powers as a community development corporation.

As added by P.L.124-2024, SEC.1.

  Previous section
Next section  
 Chapter 28 Contents