North Dakota § 6-03-44 Preferred stock included in capital - Reduction of common stock

North Dakota Statutes

§ 6-03-44 — Preferred stock included in capital - Reduction of common stock

North Dakota·Title 6 Banks and Banking·Ch. 6-03 Powers, Management, and Operation of Banks

The preferred stock lawfully issued by a banking institution must be included in determining
whether such banking institution has complied with the minimum capital stock requirements
provided in this title. Such preferred stock may be used in the capital structure of such institution
in the reduction of the common stock or in addition thereto. This section may not be construed
as in any manner decreasing the amount of capital required of an institution under the laws of
this state.

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The preferred stock lawfully issued by a banking institution must be included in determining
whether such banking institution has complied with the minimum capital stock requirements
provided in this title. Such preferred stock may be used in the capital structure of such institution
in the reduction of the common stock or in addition thereto. This section may not be construed
as in any manner decreasing the amount of capital required of an institution under the laws of
this state.

North Dakota § 6-03-44 (Preferred stock included in capital - Reduction of common stock) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.