Md. Code, Hous. & Cmty. Dev. § 6-203

Current with changes from the 2024 Legislative Session

Section 6-203 - Community development organization

A corporation, foundation, or other legal entity qualifies as a community development organization if:

(1) its purpose is to improve the physical, economic, or social environment of the area where it operates; and

(2) no part of its net earnings inures to the benefit of a private shareholder or individual holding an interest in that entity.

Md. Code, HU § 6-203