N.D. Cent. Code § 6-03-44
This is the official text of N.D. Cent. Code § 6-03-44, part of North Dakota’s Cent. Code — part of the compiled statutory law of North Dakota, published by the state as "Cent. Code." Browse the sections below, each linked to its official government source.
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6-03-44. Preferred stock included in capital - Reduction of common stock
Official statutory text
6-03-44. Preferred stock included in capital - Reduction of common stock
The preferred stock lawfully issued by a banking institution must be included in determining
whether such banking institution has complied with the minimum capital stock requirements
provided in this title. Such preferred stock may be used in the capital structure of such institution
in the reduction of the common stock or in addition thereto. This section may not be construed
as in any manner decreasing the amount of capital required of an institution under the laws of
this state.
The preferred stock lawfully issued by a banking institution must be included in determining
whether such banking institution has complied with the minimum capital stock requirements
provided in this title. Such preferred stock may be used in the capital structure of such institution
in the reduction of the common stock or in addition thereto. This section may not be construed
as in any manner decreasing the amount of capital required of an institution under the laws of
this state.
Status: in_force · Read it on the official government site
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