50568. Unless the context otherwise requires, the following definitions govern the construction of this article:
(a) “Persons and families of low or moderate income” means persons and families of low or moderate income, as defined by Section 50093 of the Health and Safety Code.
(b) “Limited dividend housing corporation” means any joint venture, partnership, limited partnership, trust, limited liability company, or corporation organized or existing under the laws of this state or authorized to do business in this state and subject to the restrictions of Division 24 (commencing with Section 33000) of the Health and Safety Code.
(c) “Housing corporation” means a corporation organized pursuant to the Community Land Chest Law (Chapter 2 (commencing with Section 35100) of Part 3 of Division 24 of the Health and Safety Code).
(d) “Nonprofit corporation” means a nonprofit corporation formed under or subject to the provisions of Part 2 (commencing with Section 5110) of Division 2 of Title 1 of the Corporations Code and whose articles of incorporation provide that the corporation has been organized exclusively to provide housing facilities for persons and families of low or moderate income.
(Amended by Stats. 1994, Ch. 1010, Sec. 143. Effective January 1, 1995.)
Structure California Code