Section 6. Sections 2201-A and 2203-A of the act, added November 5, 1981 (P.L.330, No.120), are amended to read:
Section 2201-A. Definitions.--As used in this article the following words and phrases shall have, unless the context clearly indicates otherwise, the meanings given to them in this section:
"Authority." A Residential Finance Authority created and activated pursuant to section 2202-A.
"Bonds." Includes any evidence of indebtedness for money borrowed.
"Field of operation." The area within the territorial boundaries of a county, excluding any area lying within the boundaries of any city within such county: Provided, however, That any such city and any other city or county within the Commonwealth may, by resolution, elect to be included within the field of operation of the county.
"Lending institution." Any bank, trust company, bank and trust company, mortgage bank, savings bank, credit union, National banking association, savings and loan association, building and loan association, insurance company, or other financial institution authorized to transact business in the Commonwealth and which customarily lends, or provides service or other aids in lending, money for the purchase or improvement of residences located in the Commonwealth.
"Residential loan note." An interest-bearing obligation evidencing a loan of money made for the financing of the acquisition, construction, reconstruction, rehabilitation, renovation or improvement of a residence or the refinancing of costs previously incurred for the acquisition, construction, reconstruction, rehabilitation, renovation or improvement of a residence.
"Residence." The structure (or a condominium unit in a structure), including the appurtenant land, located within the authority's field of operation which is the dwelling place of an individual or one family, provided that, such term may, at the discretion of the board of an authority, include a structure in such field of operation containing more than one dwelling unit or other living arrangement, including personal care boarding homes, nursing homes, board and care homes or other protective oversight living arrangements which may have common areas, including eating, food preparation, recreation and lounge areas.
Section 2203-A. Governing Body.--(a) The powers of each authority shall be exercised by a board consisting of [five members appointed by the board of county commissioners who may remove any member at any time with cause.] such number of members as the county commissioners may by resolution prescribe, but not fewer than five. The members shall be appointed by the county commissioners who may remove any member at any time with cause. In the case where a resolution is adopted decreasing the number of members, a member may be removed without cause to provide for the number of members authorized by the resolution.
(b) Subject to the [foregoing sentence] provisions of subsection (a), the provisions of section 7 of the act of May 2, 1945 (P.L.382, No.164), known as the "Municipality Authorities Act of 1945," are hereby incorporated by reference and made applicable to authorities.