§ 13907
201 words·~1 min read·
/ca/insurance-code/13907A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
For the purpose of this division, an “affordable housing entity” means any of the following:
(a)A housing authority created under the laws of this state or another jurisdiction and any agency or instrumentality of a housing authority, including, but not limited to, a legal entity created to conduct a self-insurance program for housing authorities that complies with Chapter 5 (commencing with Section 6500) of Division 7 of Title 1 of the Government Code.
(b)A nonprofit corporation organized under the laws of this state or another state that is engaged in providing affordable housing.
(c)A partnership, general or limited, or limited liability company that is engaged in providing affordable housing and that is affiliated with a housing authority described in subdivision
(a)or a nonprofit corporation described in subdivision
(b)if the housing authority or nonprofit corporation has one or more of the following:
(1)A financial or ownership interest in the partnership or limited liability company or the right to acquire that interest.
(2)The power to direct the management or policies of the partnership or limited liability company.
(3)A contract to lease, manage, or operate the affordable housing owned by the partnership or limited liability company.