{"code":"FIN","codeName":"Financial Code","section":"18018.3","citation":"Fin. Code, § 18018.3","status":"in-force","lawOn":"2026-09-28","headings":[{"name":"DIVISION 7. INDUSTRIAL LOAN COMPANIES [18000. - 18707.]","url":"https://blackletter.si/financial-code/division-7"},{"name":"CHAPTER 1. General Provisions [18000. - 18063.]","url":"https://blackletter.si/financial-code/division-7/chapter-1"},{"name":"ARTICLE 1. Definitions [18000. - 18019.]","url":"https://blackletter.si/financial-code/division-7/chapter-1/article-1"}],"history":"Added by Stats. 1989, Ch. 663, Sec. 1.3.   Operative January 1, 1991, by Sec. 20 of Ch. 663.","effective":null,"html":"<p>“Perpetual preferred stock,” as used in this division, means a preferred stock that does not have a stated maturity date or that can not be redeemed at the option of the holder. It includes those issues of preferred stock that automatically convert into common stock at a stated date. It excludes those issues, the rate on which increases, or can increase, in such a manner that would effectively require the issuer to redeem the issue.</p>","text":"“Perpetual preferred stock,” as used in this division, means a preferred stock that does not have a stated maturity date or that can not be redeemed at the option of the holder. It includes those issues of preferred stock that automatically convert into common stock at a stated date. It excludes those issues, the rate on which increases, or can increase, in such a manner that would effectively require the issuer to redeem the issue.","otherVersions":[],"url":"https://blackletter.si/financial-code/definitions-18018-3","source":"California Legislative Information bulk export (pubinfo)"}