Tennessee Statutes
§ 13-14-202 — Community-based development organization defined
Tennessee·Title 13
A community-based development organization is an organization that:
(1)Is established under the state charter provisions of the Tennessee Code;
(2)Has qualified for tax exempt status under § 501(c)(3) of the Internal Revenue Code ( 26 U.S.C. § 501(c)(3) );
(3)Has a purpose, stated in the articles of incorporation, to serve low and moderate income people's need for community development and community self-help;
(4)Was not organized and is not controlled by governmental entities or agents; and (5) Was not organized and is not controlled by a for-profit entity or agent.
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Related
§ 501
26 U.S.C. § 501
Legislative History
Acts 1996, ch. 1032, § 2.
Nearby Sections
15
§ 13-10-101
Chapter definitions§ 13-10-102
Functions of commissioner§ 13-10-104
Authority of commissioner to inspect property and records and conduct investigations and hearings§ 13-10-107
State financial assistance - Contingencies§ 13-10-109
Financial assistance - Approved sources§ 13-10-201
Responsibility for implementation§ 13-10-202
Financial and legal independence§ 13-10-203
Enforcement authority§ 13-10-204
Confidentiality of information§ 13-10-205
Audits and reporting§ 13-10-206
Authority to adopt policies and regulations§ 13-11-101
Short title§ 13-11-102
Purpose§ 13-11-103
Chapter definitions