NAC706.401907. “Actually issued” defined.

Latest version.

“Actually issued,” as applied to securities issued or assumed by a company, means securities:

     1. Sold to bona fide purchasers for a valuable consideration;

     2. Issued as dividends on stock; or

     3. Issued in accordance with contractual requirements directly to trustees of sinking funds.

(Added to NAC by Transportation Serv. Auth. by R040-02, eff. 9-20-2002)

                    
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