Austin Diagnostic Clinic Association, §7; §12; no action recommended, 3/24/1997

No action recommended to require registration of the distribution of limited partnership interests as bonus compensation to existing shareholders of Austin Diagnostic Clinic Association, a Texas professional association (“ADCA”), in connection with the conversion of ADCA to a Texas limited partnership, where no communication or remuneration will be paid in connection with the distribution, the recipients will not be obligated to pay any consideration or provide any additional services for the interests, the transferability of the interests will be restricted, and the recipients will make various typical investment representations. The staff also recommended no action to require registration of ADCA as a dealer in connection with the distribution.

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