California § 18427.8. 18427.8. (Added by Stats. 1996, Ch. 1064, Sec. 610.)

California Statutes

§ 18427.8. — 18427.8. (Added by Stats. 1996, Ch. 1064, Sec. 610.)

California·Code FIN Financial Code - FIN·Div. 7. DIVISION 7. INDUSTRIAL LOAN COMPANIES·Ch. 5. CHAPTER 5. Administration and Powers of the Commissioner·Art. 5. ARTICLE 5. Securities Transactions

Whenever an industrial loan company applies for a permit to issue any security or to deliver any other consideration (whether or not such security or such transaction is exempt from, or not subject to, the provisions of Section 18427.1) in exchange for one or more bona fide outstanding securities (as defined in Section 25019 of the Corporations Code), claims, or property interests, or partly in such exchange and partly for cash, the commissioner is authorized to approve the terms and conditions of such issuance and exchange or such delivery and exchange and
 the fairness of such terms and conditions and is authorized to hold a hearing on the fairness of such terms and conditions, at which all persons to whom it is proposed to issue any security or to deliver any other consideration in such

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Whenever an industrial loan company applies for a permit to issue any security or to deliver any other consideration (whether or not such security or such transaction is exempt from, or not subject to, the provisions of Section 18427.1) in exchange for one or more bona fide outstanding securities (as defined in Section 25019 of the Corporations Code), claims, or property interests, or partly in such exchange and partly for cash, the commissioner is authorized to approve the terms and conditions of such issuance and exchange or such delivery and exchange and
the fairness of such terms and conditions and is authorized to hold a hearing on the fairness of such terms and conditions, at which all persons to whom it is proposed to issue any security or to deliver any other consideration in such exchange shall have the right to appear.

California § 18427.8. (18427.8. (Added by Stats. 1996, Ch. 1064, Sec. 610.)) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.