New York Codes, Rules and Regulations
Title 13 - DEPARTMENT OF LAW
Chapter II - SECURITIES TRANSACTIONS AND PERSONNEL
Subchapter B - REAL ESTATE SYNDICATES
Part 16 - REAL ESTATE SYNDICATION OFFERINGS
Section 16.8 - Other provisions

Universal Citation: 13 NY Comp Codes Rules and Regs ยง 16.8

Current through Register Vol. 46, No. 39, September 25, 2024

(a) In the case of limited partnership syndications within the terms of section 352-e of the General Business Law, a letter permitting the filing of the offering to be issued by the Attorney-General may be conditioned upon the general partner or other principals filing within 20 days of the closing of title, a certified copy of the original and amended limited partnership certificate as filed with the office of the appropriate county clerk; and that in the event there is any "warehousing" or other pledging or collateral agreement involving unsold unit or units owned by the promoters that full disclosure thereof shall be made immediately to the Attorney-General and to investors to afford full and fair disclosure. If such financing may materially change or affect the offering, an offer of restitution shall be made to all prior subscribers or purchasers within 10 days prior to the closing of title.

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