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Section 458.210 - Community development corporations; description.

OR Rev Stat § 458.210 (2019) (N/A)
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(1) Is established under the provisions of ORS chapter 65;

(2) Has qualified for tax exempt status under section 501(c)(3) of the Internal Revenue Code;

(3) 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;

(4) 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

(5) Has a defined geographic service area. [1989 c.1030 §1]

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Section 458.215 - Local capacity building program.