1. (a) The participant is required to make a minimum subscription to the program of at least $5,000, except that in the case of an offering being made pursuant to Regulation B under the Securities Act of 1933, the minimum subscription for pre-completion costs may be $1,500, and except in the case of an offering consisting of a series of limited partnerships to be formed during a consecutive 12-month period, the minimum subscription may be $5,000 for the entire series.
2. (b) Subsequent transfers of such units shall be limited to no less than a minimum unit equivalent to an initial minimum subscription except for transfers which do not require the Commissioner's consent pursuant to Section 260.141.11 of these rules.

Note: Authority cited: Section 25610, Corporations Code. Reference: Section 25140, Corporations Code.

History

1. Editorial correction adding Note filed 11-8-82 (Register 82, No. 46).