§ 4146. — Definitions.
[Laws in effect as of January 24, 2002]
[Document not affected by Public Laws enacted between
January 24, 2002 and December 19, 2002]
[CITE: 12USC4146]
TITLE 12--BANKS AND BANKING
CHAPTER 42--LOW-INCOME HOUSING PRESERVATION AND RESIDENT HOMEOWNERSHIP
SUBCHAPTER II--TECHNICAL ASSISTANCE AND CAPACITY BUILDING
Sec. 4146. Definitions
For purposes of this subchapter--
(1) the term ``community-based nonprofit housing developer''
means a nonprofit community development corporation that--
(A) has been classified by the Internal Revenue Service as
an exempt organization under section 501(c)(3) of title 26;
(B) has been in existence for at least 2 years prior to the
date of the grant application;
(C) has a record of service to low- and moderate-income
people in the community in which the project is located;
(D) is organized at the neighborhood, city, county or multi-
county level; and
(E) in the case of a corporation acquiring eligible housing
under subchapter I of this chapter, agrees to form a purchaser
entity that conforms to the definition of a community-based
nonprofit organization under such subchapter and agrees to use
its best efforts to secure majority tenant consent to the
acquisition of the project for which grant assistance is
requested; and
(2) the terms ``eligible low-income housing'', ``nonprofit
organization'', ``owner'', and ``resident council'' have the
meanings given such terms in section 4119 of this title.
(Pub. L. 100-242, title II, Sec. 256, as added Pub. L. 102-550, title
III, Sec. 312, Oct. 28, 1992, 106 Stat. 3769.)
