| ID | Status | Date | Public/Private | Industry | AHACPA Contact |
|---|---|---|---|---|---|
| #6965 | Closed | public | Multifamily | Les Sparks |
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Is there a HUD requirement that all entities that file HUD related financial statements (HUD insured mortgages, Capital Advances, etc) maintain a Board of Directors? |
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From Les Sparks: There is no HUD requirement that requires any particular governance structure for a given loan/subsidy program. HUD relies almost exclusively on state laws to ensure that such entities it does business with have appropriate organizational structures. They must be appropriate in the circumstances and reported in APPs, but I am unaware of any particular requirements. |
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