(1) Open-ended domestic investment funds may be established only as collective investment funds under the provisions of Subdivision 2, or as investment stock corporations with variable capital under the provisions of Subdivision 3.
(2) By way of derogation from subsection (1), open-ended domestic investment funds that are not domestic UCITS, and whose units may, under the partnership agreement, be acquired exclusively by professional and semi-professional investors, may additionally be established as open-ended investment limited partnerships under the provisions of Subdivision 4.
(3) (repealed)
Subdivision 2
General Provisions for Collective Investment Funds