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Default why limit number of circuits

Hi,

I have a 30 amp subpanel fed by a 10/3 wire.

My electrician told me that the code stipulates that the panel contain
no more than 4 circuits.

Why such a limitation? Why can't I split 30 amps among 40 circuits if I
want to? Doesn't the 30amp breaker protect against overloading?

Thanks!

Aaron
 
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