Kansas Administrative Regulations
Agency 17 - OFFICE OF THE STATE BANK COMMISSIONER
Article 9 - INVESTMENT SECURITIES
Section 17-9-5 - Investment securities; conversion
Universal Citation: KS Admin Regs 17-9-5
Current through Register Vol. 43, No. 12, March 20, 2024
(a) The purchase of investment securities convertible into stock at the option of the issuer shall be prohibited.
(b) A bank may purchase investment securities convertible into stock at the option of the holder or with stock purchase warrants attached if it is apparent that the price paid for an otherwise eligible security fairly reflects the investment value of the security itself and does not include any speculative value based upon the presence of a stock purchase warrant or conversion option.
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