(2) To become an account holder a person must, in addition to meeting any other qualifications, be a member of a lower income household that has a net worth of less than $20,000.
(3) Every account holder, with support from the fiduciary organization, shall develop a personal development plan to advance account holder self-reliance. The personal development plan must include appropriate coaching, mentorship, social support, financial adequacy training and asset-specific training designed to increase the independence of the person and the person’s household through achievement of the account’s approved purpose.
(4) Notwithstanding subsection (1) of this section, a fiduciary organization may refuse to allow a qualified person to establish an account if establishment of the account would result in the members of a lower income household having more than one account. Notwithstanding subsection (1) of this section, a fiduciary organization shall refuse to allow a qualified person to establish an account if establishment of the account would result in the members of a lower income household having more than two accounts. [1999 c.1000 §3; 2007 c.765 §3; 2013 c.270 §1; 2021 c.525 §10]
Note: See note under 458.670.
Structure 2021 Oregon Revised Statutes
Volume : 13 - Housing, Games, Environment
Chapter 458 - Housing and Community Services Programs; Individual Development Accounts
Section 458.210 - Community development corporations; description.
Section 458.215 - Local capacity building program.
Section 458.220 - Community development corporation grants and assistance; rules.
Section 458.225 - Preference for certain community development corporations.
Section 458.305 - Legislative findings.
Section 458.310 - Housing revitalization program; criteria; rules.
Section 458.352 - Manufactured dwelling park preservation loan program; eligibility; reporting.
Section 458.356 - Manufactured dwelling replacement loans; eligibility; rules.
Section 458.362 - Manufactured housing advisory committee; membership; reporting.
Section 458.366 - Manufactured Home Preservation Fund.
Section 458.375 - Rental housing assistance for very low income elderly persons; rules.
Section 458.377 - Elderly Rental Assistance Fund.
Section 458.390 - Rental assistance program for youth and young adults at risk of homelessness.
Section 458.392 - Long-Term Rent Assistance Fund.
Section 458.405 - Legislative findings.
Section 458.430 - Authority of state to lease property not owned by state.
Section 458.460 - Bidding procedure for multiple applicants.
Section 458.480 - Definitions.
Section 458.485 - Local Innovation and Fast Track Housing Program; rules.
Section 458.490 - Local Innovation and Fast Track Housing Program Fund.
Section 458.510 - Energy Crisis Trust Fund.
Section 458.528 - Policy on homelessness.
Section 458.530 - Policy on hunger.
Section 458.532 - Hunger Task Force.
Section 458.545 - Task force powers and duties.
Section 458.600 - Policy and intent.
Section 458.610 - Definitions for ORS 458.600 to 458.665; rules.
Section 458.620 - Oregon Housing Fund; subaccounts.
Section 458.625 - Housing Development Grant Program; uses; policies.
Section 458.650 - Emergency Housing Account; grant policies.
Section 458.655 - Home Ownership Assistance Account; grant preferences.
Section 458.658 - Assistance for organizations supporting homeownership for persons of color.
Section 458.660 - Agricultural Worker Housing Development Account.
Section 458.665 - General Housing Account; rules.
Section 458.670 - Definitions for ORS 458.670 to 458.700.
Section 458.675 - Legislative findings.
Section 458.680 - Persons qualifying as account holders.
Section 458.690 - Required account features; rules.
Section 458.695 - Selection of fiduciary organizations.
Section 458.700 - Authority of fiduciary organizations; rules.
Section 458.705 - Legislative findings.
Section 458.720 - Community Development Incentive Project Fund; purpose; lottery bond proceeds.
Section 458.725 - Fund appropriation and expenditure guidelines.
Section 458.730 - Department use of financing mechanisms; determination of funding adequacy.
Section 458.735 - Department review of projects; lending criteria.