§ 6-203
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/md/housing-and-community-development/6-203A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
§6–203.
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.