§ 1000.412. Can an issuer obtain a guarantee for more than one note or other obligation at a time?
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/us/cfr/t24/s§ 1000.412·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Yes. To obtain multiple guarantees, the issuer shall demonstrate that:
(a)The issuer will not exceed a total for all notes or other obligations in an amount equal to five times its grant amount, excluding any amount no longer owed on existing notes or other obligations; and
(b)Issuance of additional notes or other obligations is within the financial capacity of the issuer.