Cal. FIN § 18018.4
This is the official text of Cal. FIN § 18018.4, part of California’s Financial Code — regulates banks, credit unions, lenders, and other financial institutions.
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Official statutory text
“Mandatory convertible debt,” as used in this division, means a subordinated debt instrument which requires the issuer to convert that instrument into common or perpetual preferred stock by a date at or before the maturity of the debt instrument. The maturity of those instruments shall be 12 years or less.
Status: in_force · Read it on the official government site
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