Nevada Administrative Code
Chapter 677 - Thrift Companies
CAPITAL STRUCTURE
Section 677.190 - Requirements for acquiescence
Universal Citation: NV Admin Code 677.190
Current through September 16, 2024
The Commissioner will not acquiesce in the capital structure of a thrift company unless the structure:
1. Is based on par value stock;
2. Provides that the holders of all issued and outstanding common voting stock are assessable in accordance with the provisions of this chapter, or in accordance with any order, directive or demand of the Commissioner; and
3. Provides that all borrowings, exclusive of thrift certificates, are subordinate to the claims of the thrift certificate holders.
Dep't of Commerce, Thrift Companies Reg. § 4 subsecs. 4.1-4.3, eff. 1-4-76; A and renumbered as subsec. 4.1, 1-4-78-NAC A by Admstr. of Financial Institutions, eff. 6-29-84
NRS 677.380
Disclaimer: These regulations may not be the most recent version. Nevada may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
This site is protected by reCAPTCHA and the Google
Privacy Policy and
Terms of Service apply.
