The Arkansas Subscription Agreement — A Section 3C1 Fund is a legal document utilized in Arkansas for the purpose of subscribing to and investing in a Section 3C1 Fund. This agreement outlines the terms and conditions that govern the relationship between the investor and the fund manager. A Section 3C1 Fund refers to a specific type of investment fund that operates under Section 3(c)(1) of the Investment Company Act of 1940. This section exempts certain investment funds from registering as investment companies with the Securities and Exchange Commission (SEC) if they have fewer than 100 beneficial owners. Generally, these funds are only available to accredited investors, who are individuals or entities that meet specific income or asset requirements. The Arkansas Subscription Agreement for a Section 3C1 Fund is a critical document for potential investors in Arkansas looking to participate in such investment opportunities. It ensures that both the investor and the fund are aware of their rights and responsibilities throughout the investment process. The agreement typically encompasses various key provisions, such as: 1. Identification of Parties: It clearly identifies the investor and the fund manager, including their legal names, addresses, and contact information. 2. Subscription Details: It outlines the specific terms of the investment, including the amount of money the investor intends to invest, the type and class of shares being purchased, and the subscription price. 3. Representations and Warranties: The investor is required to provide certain representations and warranties confirming their eligibility as an accredited investor and their understanding of the risks associated with the investment. 4. Transferability: This section addresses whether the investor's shares can be transferred or assigned to another party without the fund manager's consent. 5. Subscription Documents: It specifies the additional documents the investor must provide alongside the subscription agreement, such as a subscription questionnaire, investment representations, and any required certifications. 6. Governing Law and Dispute Resolution: This section determines the state laws governing the agreement and outlines the procedures for resolving any potential disputes. Different types or variations of Arkansas Subscription Agreements for Section 3C1 Funds may exist, depending on the specific investment fund or the preferences of the fund manager. However, the general structure and provisions outlined above are typically fundamental across all such agreements. It is essential for potential investors to review and understand the terms and conditions set forth in the Arkansas Subscription Agreement for Section 3C1 Funds before committing to an investment. Seeking legal advice or consulting with financial professionals is highly recommended ensuring full comprehension of the agreement's implications and potential risks.
Arkansas Subscription Agreement - A Section 3C1 Fund
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(5) Qualifying private fund means any private fund that is not registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a?8) and has not elected to be treated as a business development company pursuant to section 54 of that Act (15 U.S.C. 80a?53).
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) ...
3C1 refers to a portion of the Investment Company Act of 1940 that allows private investment companies to be considered exceptions to certain regulations and reporting requirements stipulated by the Securities and Exchange Commission (SEC).
Rule 3c-5(a)(4)(i) includes an ?executive officer? or person serving in a similar capacity? within the definition of ?knowledgeable employee.? Executive officer is defined in Rule 3c-5(a)(3) as the ?president, any vice president in charge of a principal business unit, division or function (such as sales, administration ...
Section 3(c)(1) excepts from the definition of investment company any issuer whose outstanding securities (other than short-term paper) are beneficially owned by not more than one hundred persons and that is not making and does not at that time propose to make a public offering of such securities.
3C7 funds, as noted, take investments from qualified purchasers, whereas 3C1 funds work with accredited investors. 4. Investors in 3C7 funds are held to a higher wealth measure than those in 3C1 funds, which can limit the investor pool that a fund is hoping to raise money from.
(3) is engaged or proposes to engage in the business of investing, reinvesting, owning, holding, or trading in securities, and owns or proposes to acquire investment securities having a value exceeding 40 per centum of the value of such issuer's total assets (exclusive of Government securities and cash items) on an ...
For instance, a qualified purchaser is often allowed to invest in funds that are exempt from the Securities and Exchange Commission (SEC) registration under both Sections 3(c)(1) and 3(c)(7) of the Investment Company Act, whereas an accredited investor would only be allowed to invest in a Section 3(c)(1) fund.