Current through December 10, 2024
Rule 6-4-7.1 - Organizational Status (Legal Status) and Mission Requirements for CHDO CertificatioA. Organized Under State/Local Law. An organization must show evidence to MDA either in its charter or articles of incorporation, that it is organized under state or local law.B. Non-Profit Status. A tax exemption ruling from the Internal Revenue Service as evidenced by a 501(c) (3) or (c) (4) Certificate from the IRS.C. Purpose of Organization. The organization's primary purpose must be the provision of decent housing that is affordable to low- income people. This must be evidenced by a statement in the organization's charter, articles of incorporation, by-laws, or resolutions.42 USCA § 12701 et seq.; Pub. L. 101-625, title I et seq.; 24 CFR 92