(a) the organization is a not-for-profit company incorporated under the Companies Act or a not-for-profit cooperative incorporated or continued under the Cooperatives Act;

(b) the organization provides housing accommodation, including rent-to-own housing accommodation, to low-income individuals and families at a rent that is below the market rent for the area in which the real property is located;

(c) the organization carries on its business without the purpose of gain for its members;

(d) any profits of the organization or accretions to the value of the property of the organization are used in promoting the organization’s objects;

(e) no part of the organization’s income is payable to or otherwise available for the personal benefit of any of its members;

(f) the directors serve as directors and officers without any remuneration except reasonable expenses incurred in the performance of their duties;

(g) the directors and officers do not receive directly or indirectly any profit from their position as director or officer;

(h) on dissolution of the organization and after payment of all its debts due and liabilities, its remaining property shall be distributed or disposed of to non-profit housing organizations that have objects the same as or similar to the objects of the organization and carry on their work in New Brunswick; and

(i) on dissolution of the organization, no part of its property is to be available to its members.

(a) nursing homes;

(b) special care homes; and

(c) community residences or other residential facilities whose residents require supervisory, personal or nursing care.