Iowa Code 499A.101 – Definitions

As used in this subchapter, unless the context otherwise requires:

1. “Advisor” means a member of the association’s advisory committee.

2. “Association” means a sweat equity housing cooperative association created pursuant to this subchapter.

3. “Authority” means a local housing authority created pursuant to section 499A.102.

4. “Low income” means the income of “very low income families” as defined in section 16.1.

5. “Partner” means a low-income sweat equity member of the association, and member of the sweat equity partners’ committee.

6. “Sweat equity” means any contribution made by a partner to the operations of the association, including but not limited to physical labor.