§ 458.210

For the purposes of ORS 456.550 and 458.210 to 458.240, a community development corporation is:\n(1) An organization that:\n(a) Is established under the provisions of ORS chapter 65;\n(b) Has qualified for tax exempt status under section 501(c)(3) of the Internal Revenue Code;\n(c) Has a purpose, stated in the articles of incorporation, to serve low and moderate income people’s need for community development and community self-help;\n(d) Has a board of directors, of not fewer than five members, that is locally controlled by including 51 percent of the board members from the service area; and\n(e) Has a defined geographic service area; or\n(2) A housing entity or housing authority designated by a tribe, as defined in ORS 182.162, to receive funds and administer housing programs. [1989 c.1030 §1; 2023 c.193 §1]