Section 230-RICR-50-05-1.4 - DefinitionsA. In addition to the terms defined in R.I. Gen. Laws § 7-11-101, when used in this Part, the following definitions shall have the following meanings: 1. "3(c)(1) fund" means a private fund that is excluded from the definition of an investment company under § 3(c)(1) of the Investment Company Act of 1940, 15 U.S.C. § 80a-3(c)(1).2. "CRD" means the Central Registration Depository operated by FINRA. 3. "Department" means the Securities Division of the Rhode Island Department of Business Regulation.4. "Director" means the Director of the Rhode Island Department of Business Regulation or his or her designee. 5. "FINRA" means the Financial Industry Regulatory Authority, which is a self-regulatory organization as that term is defined in R.I. Gen. Laws § 7-11-101(23). 6. "IARD" means the Investment Adviser Registration Depository, which is operated by FINRA.7. "Private fund" means an issuer that would be an investment company as defined in § 3 of the Investment Company Act of 1940, 15 U.S.C. § 80a-3, but for 15 U.S.C. §§ 80a-3(c)(1) or 80a-3(c)(7) of that Act. 8. "Private fund adviser" means an investment adviser who provides advice solely to one or more private funds.9. "Representatives" means Broker Dealer Sales Representatives and/or Investment Adviser Representatives. 10. "RIUSA" means the Rhode Island Uniform Securities Act set forth in R.I. Gen. Laws § 7-11-101 et seq.11. "SCOR" means Small Corporate Offering Registration.12. "SEC" means the United States Securities and Exchange Commission.13. "Value of primary residence" means the fair market value of a person's primary residence, subtracted by the amount of debt secured by the property up to its fair market value.14. "Venture capital fund" means a private fund that meets the definition of a venture capital fund in SEC Rule 203(l) -1, 17 C.F.R. § 275.203(l)-1. 230 R.I. Code R. 230-RICR-50-05-1.4