Lux Limited Partnership offered $300,000 of its limited partnership interests under Rule 504 of Regulation D of the Securities Act of 1933. The securities were registered and disclosure was made under state law. Which of the following statements is true?
A. The resale of the limited partnership interests by a purchaser will not be restricted.
B. The limited partnership interests may be sold only to accredited investors.
C. The exemption under Rule 504 is not available to an issuer of limited partnership interests.
D. The limited partnership interests may not be sold to more than 35 investors.
Answer: A. The resale of the limited partnership interests by a purchaser will not be restricted.
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