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 § 18018.3.

JurisdictionCalifornia

Code FINFinancial Code - FIN

Div. 7.DIVISION 7. INDUSTRIAL LOAN COMPANIES

Ch. 1.CHAPTER 1. General Provisions

Art. 1.ARTICLE 1. Definitions

This text of California § 18018.3. (18018.3. (Added by Stats. 1989, Ch. 663, Sec. 1.3.)) is published on Counsel Stack Legal Research, covering California primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

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Cal. Financial Code - FIN Code § 18018.3. (2026).

Text

“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.