NAC662.010. Long-term capital notes or debentures: Approval before issuance.

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A bank may issue long-term capital notes or debentures only after having first received the written approval of the Administrator of Financial Institutions. The Administrator will approve or deny such an issuance after considering whether it constitutes a sound banking practice and would be in the best interests of the depositors, creditors, and stockholders of the bank and the public in its relations with the bank.

[Banking Div., Long-Term Capital Notes or Debentures Rule No. 1 subsec. 1, eff. 12-14-78]—(NAC A by Admstr. of Financial Institutions, eff. 6-29-84)

                    
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