California Code of Regulations
Title 25 - Housing and Community Development
Division 2 - California Housing Finance Agency
Chapter 2 - Rental Housing Development Programs
Article 2 - Construction and Mortgage Loans
Section 11107 - Earnings Distribution

Universal Citation: 25 CA Code of Regs 11107
Current through Register 2024 Notice Reg. No. 38, September 20, 2024

Earnings distribution to a housing sponsor (other than a nonprofit housing sponsor or local entity) shall be limited to an annual amount no greater than 6% of the housing sponsor's equity invested in the housing development in the case of housing developments intended primarily for elderly persons, or an amount not to exceed 10% of the housing sponsor's equity invested in the housing development in the case of housing developments intended primarily for nonelderly persons, except as such distributions may be increased pursuant to the provisions of paragraph 2 of Section 51202 of the Health and Safety Code.

1. New section filed 10-29-80; effective thirtieth day thereafter (Register 80, No. 44).

Note: Authority cited: Section 51050, Health and Safety Code. Reference: Section 51202, Health and Safety Code.

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