Essay
The Orange Grove Limited Partnership would like to make an offering of $2 million in limited partnership interests under either Rule 505 or Rule 506 of Regulation D of the Securities Act of 1933.Orange Grove plans to sell to 40 investors,eight of whom have net incomes in excess of $200,000 per year and net worth of more than $2 million.The 40 investors also include five mutual funds and three insurance companies.The other investors to whom Orange Grove plans to sell are not experienced investors.Is either Rule 505 or Rule 506 available to the Orange Grove Partnership?
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Rule 505 is available,but Rule 506 is no...View Answer
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