California Code of Regulations
Title 10 - Investment
Chapter 3 - Commissioner of Financial Protection and Innovation
Subchapter 2 - Corporate Securities
Article 4 - Standards for the Exercise of the Commissioner's Authority
Subarticle 10 - Real Estate Programs
Non-Specified Property Programs
Section 260.140.115.1 - Minimum Capitalization

A non-specified property program shall provide for minimum gross proceeds from the offering of not less than $1,000,000 after payment of all organizational and offering expenses before it may commence business.

1. Amendment filed 1-27-84; effective thirtieth day thereafter (Register 84, No. 4).
2. Amendment filed 5-18-92; operative 6-17-92 (Register 92, No. 22).
3. Editorial correction inserting "Non-specified property programs" subheading (Register 92, No. 34).

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