State Codes and Statutes
Statutes > Maryland > Housing-and-community-development > Title-4 > Subtitle-6 > 4-607§ 4-607. Group home sponsor.
To qualify for a Program loan, a group home sponsor shall own and operate a group home and be:
(1) a nonprofit organization;
(2) an individual; or
(3) a limited partnership if:
(i) 1. each general partner qualifies as a nonprofit organization; or
2. each general partner is a wholly owned subsidiary of a nonprofit organization;
(ii) the limited partnership is formed to undertake a group home project that is totally or partly eligible for a federal low income housing tax credit program or any other federal program or incentive; and
(iii) a nonprofit organization manages the project or receives the net cash flow from or the residual sale proceeds on sale of the group home.
[An. Code 1957, art. 83B, § 2-701(d); 2005, ch. 26, § 2.]
