NAC706.401921. “Nominally issued” defined.

Latest version.

“Nominally issued,” as applied to securities issued or assumed by a company, means securities which have been signed, certified or otherwise executed and which have been placed with the proper officer for sale and delivery, pledged or otherwise placed in some special fund of the company, but which have not been sold, or issued directly to trustees of sinking funds in accordance with contractual requirements.

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

                    
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