Illinois Administrative Code
Title 47 - HOUSING AND COMMUNITY DEVELOPMENT
Part 310 - MULTIFAMILY RENTAL HOUSING MORTGAGE LOAN PROGRAM
Subpart C - OWNER
Section 310.308 - Purchase of Authority Bonds and Notes
Universal Citation: 47 IL Admin Code ยง 310.308
Current through Register Vol. 48, No. 12, March 22, 2024
No Owner, including any "related person," as defined in Section 103(b)(6)(C) of the Internal Revenue Code of 1954 as amended from time to time, shall pursuant to any arrangement, formal or informal, direct or indirect, agree to purchase the Bonds, Notes, or other obligations of the Authority in an amount related to the aggregate principal amount of the Mortgage Loan to be made to the Owner or such related person.
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