Ordinarily, the partnership and the sponsor may not be obligated to redeem or repurchase any of its limited partnership interests, although the partnership and the sponsor may not be precluded from purchasing such outstanding limited partnership interests, if such purchase does not impair the capital or operation of the partnership. Notwithstanding the foregoing, a real estate limited partnership may provide for mandatory redemption rights under the following circumstances:
Cal. Code Regs. Tit. 10, § 260.140.116.6
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.
2. Amendment filed 5-18-92; operative 6-17-92 (Register 92, No. 22).