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2006 LAWS OF MARYLAND
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Ch. 118
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Section 4-401(c) and (d), respectively
to be Section 4-401(b) and (c), respectively
Annotated Code of Maryland
(2005 Volume)
SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That Section(s) 4-101(d) and (e), respectively, of Article - Housing and
Community Development of the Annotated Code of Maryland be renumbered to be
Section(s) 4-101(e) and (f), respectively.
SECTION 2. AND BE IT FURTHER ENACTED, That the Laws of Maryland
read as follows:
Article - Housing and Community Development
4-101.
(a) In this title the following words have the meanings indicated.
(b) "Administration" means the Community Development Administration.
(D) "ELDERLY HOUSEHOLD" MEANS ONE OR MORE INDIVIDUALS WHO
OCCUPY A RESIDENTIAL DWELLING UNIT, AT LEAST ONE OF WHOM MEETS THE AGE
LIMIT SPECIFIED BY THE SECRETARY THAT:
(1) IS GREATER THAN OR EQUAL TO AGE 55; AND
(2) MAY VARY FOR DIFFERENT PROGRAMS OR TYPES OF PROJECTS.
4-235.
(b) (1) In accordance with § 4-213 of this subtitle, the Administration may
make, participate in making, purchase, and undertake a commitment for:
(i) a mortgage loan or other financial assistance secured by a
mortgage lien for a community development project or public purpose project; and
(ii) a reverse equity mortgage loan secured by a mortgage lien that
is for housing related expenses of an elderly HOUSEHOLD THAT QUALIFIES AS A
family of limited income.
(2) Financial assistance to purchase a dwelling unit in a community
development project or public purpose project under paragraph (1)(i) of this
subsection may include a temporary loan or advance and a permanent direct
mortgage loan to a family of limited income, if otherwise required by law.
(3) Housing related expenses under paragraph (1)(ii) of this subsection
include personal expenses that enable the owner to continue to occupy the owner's
home.
4-401.
(a) In this subtitle the following words have the meanings indicated.
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