[Code of Federal Regulations]

[Title 24, Volume 4]

[Revised as of April 1, 2006]

From the U.S. Government Printing Office via GPO Access

[CITE: 24CFR904.106]



[Page 308]

 

                 TITLE 24--HOUSING AND URBAN DEVELOPMENT

 

CHAPTER IX--OFFICE OF ASSISTANT SECRETARY FOR PUBLIC AND INDIAN HOUSING, 

               DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT

 

PART 904_LOW RENT HOUSING HOMEOWNERSHIP OPPORTUNITIES--Table of Contents

 

                Subpart B_Turnkey III Program Description

 

Sec.  904.106  Homebuyers Association (HBA).



    An HBA is an incorporated organization composed of all the families 

who are entitled to occupancy pursuant to a Homebuyers Ownership 

Opportunity Agreement or who are homeowners. It is formed and organized 

for the purposes set forth in Sec.  904.304 of this part. The HBA shall 

be funded as provided in Sec.  904.305 of this part. In the absence of a 

duly organized HBA, the LHA shall be free to act without the HBA action 

required by this subpart.