499A.101 - DEFINITIONS.
499A.101 DEFINITIONS. As used in this subchapter, unless the context otherwise requires: 1. "Advisor" means a member of the association's advisory committee. 2. "Association" means a sweat equity housing cooperative association created pursuant to this subchapter. 3. "Authority" means a local housing authority created pursuant to section 499A.102. 4. "Low income" means the income of "very low income families" as defined in section 16.1. 5. "Partner" means a low-income sweat equity member of the association, and member of the sweat equity partners' committee. 6. "Sweat equity" means any contribution made by a partner to the operations of the association, including but not limited to physical labor.
Section History: Recent Form 90 Acts, ch 1120, §1