California § 18018.3. 18018.3. (Added by Stats. 1989, Ch. 663, Sec. 1.3.)

California Statutes

§ 18018.3. — 18018.3. (Added by Stats. 1989, Ch. 663, Sec. 1.3.)

California·Code FIN Financial Code - FIN·Div. 7. DIVISION 7. INDUSTRIAL LOAN COMPANIES·Ch. 1. CHAPTER 1. General Provisions·Art. 1. ARTICLE 1. Definitions

“Perpetual preferred stock,” as used in this division, means a preferred stock that does not have a stated maturity date or that can not be redeemed at the option of the holder. It includes those issues of preferred stock that automatically convert into common stock at a stated date. It excludes those issues, the rate on which increases, or can increase, in such a manner that would effectively require the issuer to redeem the issue.

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“Perpetual preferred stock,” as used in this division, means a preferred stock that does not have a stated maturity date or that can not be redeemed at the option of the holder. It includes those issues of preferred stock that automatically convert into common stock at a stated date. It excludes those issues, the rate on which increases, or can increase, in such a manner that would effectively require the issuer to redeem the issue.

California § 18018.3. (18018.3. (Added by Stats. 1989, Ch. 663, Sec. 1.3.)) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.