§ 13-2-312 — Capital notes or debentures; conversion into common or preferred stock

Capital notes and debentures may be converted into shares of
common or preferred stock in accordance with the provisions of
the capital notes or debentures. If capital notes or debentures
are converted the president or vice-president shall subscribe
and verify triplicate originals of a certificate stating the
amount of conversion and other information as required by the
state banking commissioner. The certificates shall be delivered
to and approved by the state banking commissioner who shall file
one (1) of the certificates in his office, one (1) in the office
of the secretary of state and return one (1) to the subscribing
officer of the bank.