(at the request of Governor Theodore R. Kulongoski for Housing and Community Services Department)
Chief Sponsors:
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Regular Sponsors:
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Bill Title:
Relating to manufactured dwelling park nonprofit cooperatives.
Catchline/Summary:
Prohibits manufactured dwelling park nonprofit cooperative from issuing stock. Prohibits manufactured dwelling park nonprofit cooperative from issuing stock.
Prohibits member of manufactured dwelling park nonprofit cooperative from selling or redeeming membership at profit. Limits number of manufactured dwelling park nonprofit cooperative memberships to number of sites in manufactured dwelling park of cooperative.
Specifies rights of lienholder acquiring manufactured dwelling located in manufactured dwelling park of cooperative. Establishes deadlines for buyer of, or person who acquires from lienholder title to, manufactured dwelling in park of cooperative to join cooperative or move manufactured dwelling.
Makes membership in manufactured dwelling park nonprofit cooperative mandatory for residents if newly created park originates as cooperative.
Allows manufactured dwelling park nonprofit cooperative to be sponsoring entity for purposes of tax credit for loans used to finance construction, development, acquisition or acquisition and rehabilitation of manufactured dwelling park. Limits types of sponsoring entity that may be qualified borrower on loans for manufactured dwelling parks.
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HB 2255
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