The rules in this subarticle shall govern the qualification of oil and gas programs in the form of limited partnerships (herein sometimes called “programs”) and will be applied by analogy to oil and gas programs in other forms. While applications not conforming to the standards contained herein shall be looked upon with disfavor, where good cause is shown certain guidelines may be modified or waived by the Commissioner.

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

History

1. Repealer of Subarticle 11 (Sections 260.140.120-260.140.124), Article 4, and new Subarticle 11 (Sections 260.140.120-260.140.131.9), Article 4 filed 12-6-74; effective thirtieth day thereafter (Register 74, No. 49).