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 260.140.115.2 - Experience of Sponsor

In addition to the experience requirements stated in Section 260.140.111.1, a general partner, or if a general partner is not an individual, the operating officer of such general partner, must have had the equivalent of at least 5 years experience in the real estate business in an executive capacity.

Such persons must also have two years experience in the management and acquisition of the type of properties to be acquired or otherwise must demonstrate to the satisfaction of the Commissioner that they have sufficient knowledge and experience to acquire and manage the type of properties proposed to be acquired by the non-specified property program.

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).

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