ARTICLE V

REDEVELOPMENT COMPANIES
Section 100. Short title.

101. Policy of state and purpose of act.

102. Definitions.

103. Redevelopment companies; how created.

104. Consent of supervising agency to creation of

redevelopment companies.

105. Application of other corporation laws.

105-a. Application of other laws.

106. Powers of redevelopment companies.

107. Limited return on investment.

108. Consideration for capital and bonds.

109. Minimum amount of capital and debentures.

110. Income debentures.

111. Mortgages and mortgage bonds.

111-a. Participation by certain corporations and individuals.

111-b. Mortgage modification provisions for redevelopment

companies in cities with a population of one million or

more.

112. Limitations.

112-a. Redevelopment loans.

113. Use of projects.

114. Procedure for submission and approval of plan or project.

115. Limitation on changes.

116. Transfer of real property to redevelopment company.

117. Rules and regulations.

118. Fees.

119. Acquisition.

120. Regulation of redevelopment companies.

120-a. State supervision and regulation.

121. Sinking fund.

122. Transfer of title or foreclosure of project.

123. Dissolution.

124. Participation by certain corporations.

125. Tax exemptions.

126. Reduced rentals for the elderly.

127. Acquisition by mutual redevelopment companies.

128. Resale price of shares.