C.F.R. » Title 24 » CHAPTER IX—OFFICE OF ASSISTANT SECRETARY FOR PUBLIC AND INDIAN HOUSING, DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT › PART 904—LOW RENT HOUSING HOMEOWNERSHIP OPPORTUNITIES › Subpart B—Turnkey III Program Description

24 C.F.R. § 904.106

Homebuyers Association (HBA)

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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 § 904.304 of this part. The HBA shall be funded as provided in § 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.