### Question
What is the definition of nonprofit organization?


### Answer
The definition of **nonprofit organization** is as follows in *12 U.S.C. § 4119*:

> any private, nonprofit organization that—


(A) is organized or chartered under State or local laws

#### Citation:
  - *12 U.S.C. § 4119*
  - Heading: **CHAPTER 42-LOW-INCOME HOUSING PRESERVATION AND RESIDENT HOMEOWNERSHIP > SUBCHAPTER I-PREPAYMENT OF MORTGAGES INSURED UNDER NATIONAL HOUSING ACT**

