Utah Administrative Code
Topic - Financial Institutions
Title R333 - Banks
Rule R333-8 - Authority for Banks to Issue Subordinated Capital Notes or Debentures
Section R333-8-2 - Definitions
Universal Citation: UT Admin Code R 333-8-2
Current through Bulletin 2024-06, March 15, 2024
(1) "Capital Stock" means the total of:
(a) the par value of all
shares of the bank having a par value that have been issued; plus
(b) the amount of the consideration received
by the bank for all shares of the bank without par value that have been issued,
except that part of the consideration which has been allocated to capital
surplus in a manner permitted by law; plus
(c) the amounts not included in Subsections
(a) and (b) as have been transferred to stated capital of the bank, whether
upon the issue of shares as a share dividend or otherwise; minus
(d) all reductions from such sum as have been
effected in a manner permitted by law.
(2) "Mandatory Convertible Securities" means any capital securities which require that at some future date the issuer must exchange common or perpetual preferred stock for the outstanding security.
(3) "Surplus" means the total of:
(a) the amount paid to the bank in
excess of the par value of its capital stock, or, in the case of stock without
par value, the amount designated as surplus of the total amount received for
its capital stock,
(b) amounts
received as capital contributions, and
(c) amounts transferred to the capital
surplus account from undivided profits.
Disclaimer: These regulations may not be the most recent version. Utah 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.
