Notes on national housing partnerships : US Code - Notes

Search Notes on national housing partnerships : US Code - Notes

Sec.
3931. Congressional statement of purpose.
3932. Creation of corporations.
(a) Authorization.
(b) Creation of additional corporations.
(c) Creation of corporations and organization of
other partnerships, joint ventures, or
associations by private persons.
3933. Organization of corporation.
(a) Appointment of incorporators; Chairman; initial
board of directors.
(b) Action by incorporators; filing articles of
incorporation.
(c) Initial offering of stock in corporation and of
interests in partnership; terms of offering.
3934. Board of Directors; membership; appointment; term.
3935. Financing the corporation.
3936. Purposes and powers of corporation.
(a) Building, rehabilitation, acquisition, and
financing of housing and related facilities
for families and individuals of low or
moderate income; acquisition and disposal of
property; funds.
(b) Authorization to enter into partnerships,
limited partnerships, joint ventures, and
other associations; manager or general partner
of partnership, venture, or association;
research and studies; technical assistance;
loans or grants; hire or acceptance of
services of consultants, experts, advisory
boards and panels.
(c) Exercise of powers conferred upon stock
corporation by District of Columbia Business
Corporation Act.
(d) Labor standards.
(e) Maximum combined outstanding equity commitment.
3937. National housing partnership.
(a) Formation of limited partnership; partnership
agreement.
(b) Applicability of other laws; legal status of
limited partnership.
(c) Authorization to enter into partnerships,
limited partnerships, or joint ventures
organized under State or local laws for
purpose of engaging in low and moderate income
housing developments, projects, or
undertakings.
(d) General partner; capital of partnership;
contribution of partners.
(e) Partnership agreement; participation in low and
moderate income housing developments,
projects, or undertakings; limitation on
aggregate initial equity investment.
(f) Partnership agreement; authorization for
stockholders to become limited partners;
inclusion of other limited partners;
acquisition of assignor's stock by assignee of
limited partner; approval of substitution or
addition of partnership member.
(g) Liability of corporation as general partner;
treatment of interest of limited partner in
partnership.
(h) Execution of certificate of partnership and
amendments.
3938. Annual report of corporation; audit of accounts.
3939. Applicability of antitrust laws.
3940. Reservation of right to repeal, alter, or amend
chapter.
3941. State or local taxation or regulation; access to
judicial process.