The Commissioner may approve any offering on a basis other than that permitted in these rules, if the class of investors is sufficiently limited. The Commissioner will take into consideration in reviewing such restricted or limited offerings, among other things, the identity of the investors, the suitability standards to be employed, the relationship of the investors, the knowledgeability of the investors, the legal, business, technical and accounting advice available to and utilized by the investors and any other factors deemed relevant.

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).