UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM N-54A
NOTIFICATION OF ELECTION TO BE SUBJECT TO SECTIONS 55 THROUGH 65
OF THE INVESTMENT COMPANY ACT OF 1940
FILED PURSUANT TO SECTION 54(a) OF THE ACT
The undersigned business development company hereby notifies the Securities
and Exchange Commission that it elects, pursuant to the provisions of 54(a) of
the Investment Company Act of 1940 (the "Act"), to be subject to the provisions
of sections 55 through 65 of the Act and, in connection with such notification
of election, submits the following information:
Name: American Growth Fund I LP
Address of Principal Business Office: 1455 E. Tropicana Ave., #100,
Las Vegas, NV 89119
Telephone Number (including area code): (702) 896-7019
Name and address of agent for service of process: Donna Snyder
1455 E. Tropicana Ave., Suite 100, Las Vegas, NV 89119
/x/ The company has filed a registration statement for a class of equity
securities pursuant to section 12 of the Securities Exchange Act of 1934.
The registration statement was filed on April 1, 1996.
The undersigned company certifies that it is a closed-end company organized
under the laws of California and with its principal place of business in
California; that it will be operated for the purpose of making investments in
securities described in sections 55(a)(1) through (3) of the Investment Company
Act of 1940; and that it will make available significant managerial assistance
with respect to issuers of such securities to the extent required by the Act.
Pursuant to the requirements of the Act, the undersigned company has caused
this notification of election to be subject to sections 55 through 65 of the
Investment Company Act of 1940 to be duly signed on its behalf in the city of
Las Vegas and state of Nevada on the 18th day of March 1996.
Signature /s/ Donna Snyder
---------------------------------------
By Donna Snyder
Secretary / Treasurer of American Growth
Capital Corporation, General Partner of
the Registrant
[SEAL] /s/ Maxwell Issa
[GRAPHIC OMITTED - NOTARY SEAL]
NOTARY PUBLIC
STATE OF NEVADA
County of Clark
MAXWELL ISSA
My appointment Expires June 29, 1996
