15E.29  Local development corporation.

To be eligible to receive a loan under the provisions of this division a local development corporation must be a nonprofit corporation organized under chapter 504A which has a minimum of twenty-five members and in which at least seventy-five percent of the ownership or control of the corporation is held by persons residing or doing business in the community.

Section History: Early form

  [C81, § 28.29]

Section History: Recent form

  C93, § 15E.29

Internal References

  Referred to in § 15.108

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