NAC662.070. Long-term capital notes or debentures: Conversion to stock.

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No such long-term capital notes or debentures may be converted into capital stock, either common or preferred, of the issuing bank without prior consent of the Administrator of Financial Institutions.

[Banking Div., Long-Term Capital Notes or Debentures Rule No. 1 subsec. 7, eff. 12-14-78]—(NAC A by Admstr. of Financial Institutions, eff. 6-29-84)

                    
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