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Maryland Code, Housing and Community Development § 6-203

Current as of January 01, 2025 | Updated by Findlaw Staff

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.

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Cite this article: FindLaw.com - Maryland Code, Housing and Community Development § 6-203 - last updated January 01, 2025 | https://codes.findlaw.com/md/housing-and-community-development/md-code-hous-and-cmty-dev-sect-6-203/

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