An applicant or recipient shall be ineligible to receive public assistance unless the property he owns is held for the following purposes:
1. The property is used to provide the applicant or recipient with a home and conforms to the provisions of Section 11152 of this code.
2. The property is producing income for the support of the applicant or recipient and conforms to the provisions of Section 11153.7 of this code.
3. The property is held as a reserve to meet a contingent need, not included within the standard of assistance for which an aid payment is made, and conforms to the provisions of Section 11154 of this code.
4. The property is personal in nature, or meets a special need of the applicant or recipient, or is part of a self-care or rehabilitation plan, or is not available for expenditure or disposition by the applicant or recipient and conforms to provisions of Section 11155 of this code.
(Amended by Stats. 1975, Ch. 678.)