The North Dakota Subscription Agreement — A Section 3C1 Fund is a legal document that establishes the terms and conditions between an investor and a Section 3C1 fund operating in North Dakota. This agreement outlines the investor's commitment to invest a certain amount of capital into the fund in exchange for an ownership interest. Keywords: North Dakota, Subscription Agreement, Section 3C1 Fund, investor, terms and conditions, capital, ownership interest. The North Dakota Subscription Agreement — A Section 3C1 Fund can be further categorized into various types based on specific investment strategies or industries. Some of these types include: 1. Real Estate Section 3C1 Fund Agreement: This subscription agreement is tailored for funds focused on real estate investments in North Dakota. It outlines the terms related to real estate acquisition, development, and management. 2. Technology Section 3C1 Fund Agreement: This subscription agreement is designed for funds that specialize in investing in technology-related companies and startups in North Dakota. It includes provisions related to intellectual property rights and technology-specific risks. 3. Energy Section 3C1 Fund Agreement: This type of subscription agreement is suited for funds that concentrate on the energy sector, including oil, gas, renewable energy, and related industries in North Dakota. It may encompass guidelines specific to energy exploration, production, and distribution. 4. Healthcare Section 3C1 Fund Agreement: This subscription agreement caters to funds focusing on investments in the healthcare sector within North Dakota. It covers areas such as pharmaceuticals, medical devices, biotechnology, and healthcare facilities. 5. Agriculture Section 3C1 Fund Agreement: This subscription agreement is targeted for funds that invest in the agricultural sector in North Dakota. It may include provisions related to crop production, livestock farming, agricultural technology, and related industries. 6. Venture Capital Section 3C1 Fund Agreement: This type of subscription agreement is for funds that primarily invest in early-stage startups in North Dakota. It covers areas such as seed funding, angel investing, and venture capital structures. In summary, the North Dakota Subscription Agreement — A Section 3C1 Fund establishes the legal relationship between an investor and a Section 3C1 fund in North Dakota. It sets forth the terms and conditions of the investment, and different types of funds exist based on various investment strategies, such as real estate, technology, energy, healthcare, agriculture, and venture capital.
North Dakota Subscription Agreement - A Section 3C1 Fund
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3(c)(1) In other words, 3C1 allows private funds with 100 or fewer investors (and venture capital funds with fewer than 250 investors) and no plans for an initial public offering to sidestep SEC registration and other requirements, including ongoing disclosure and restrictions on derivatives trading.
Section 3(c)(1) Funds ? A 3(c)(1) fund involves a private placement by a fund that will have no more than 100 beneficial owners.
3(c)(1) Funds After a fund establishes it is not making, or proposing to make, a public offering of its securities, the most common method for satisfying the second prong of the test and securing its exemption from the Act's requirements is structuring the fund to be owned by no more than 100 beneficial owners.
Analysis. Section 3(c)(11) of the 1940 Act, in pertinent part, excepts from the definition of "investment company" any "employee's stock bonus, pension, or profit-sharing trust which meets the requirements for qualification under section 401 of the Internal Revenue Code of 1986" (i.e., the "single trust exception").
12. Code Section 25202 provides a de minimis exemption from the licensure requirement under Section 25230 to any investment adviser that (1) has no place of business in this state and (2) during the preceding 12-month period has had fewer than six clients who are residents of this state.
Qualified Purchasers generally invest in a "3c7" limited partnership that can only accept Qualified Purchasers. Accredited Investors who are not qualified purchasers generally invest in the "3c1" limited partnership.
A 3(c)(1) fund is a pooled investment vehicle that is excluded from the definition of investment company in the Investment Company Act because it has no more than 100 beneficial owners (or, in the case of a qualifying venture capital fund, 250 beneficial owners) and otherwise meets criteria outlined in Section 3(c)(1) ...
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