SECTION 330:15-3-10. Maximum sale price

  Maximum sale price and/or appraised value of single family dwellings to be mortgaged under a Program shall be fixed by Trustees at time of finalization of the Program in question. In addition, such maximum sale price:

(1)   May be further restricted by provisions of the Code;

(2)   May be set at different amounts for various parts of the State, provided that such different amounts shall be based upon an objective standard generally accepted in the housing industry in the State as identifying the then current or recent per capita income and/or housing costs for the State and/or the various localities within the State;

(3)   Target areas or particular types of properties may be designated for special treatment under a Program, as may be authorized or required under the Code, or as authorized or required by the final terms of the Program Documents.

[Source: Amended at 37 Ok Reg 1709, eff 1-1-21]