Statute · California Financial Code
Cal. Fin. Code § 18018.3 — Definitions
Cal. Fin. Code § 18018.3
- Type
- Statute
- Source
- California Financial Code
- Jurisdiction
- California
- Current through
- Nov 2, 2026 (California Legislative Counsel)
“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…
Citator
Cal. Fin. Code § 18018.3 — Definitions is in force in the current edition of the Code, and nothing recorded condemns it.
“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.