{"code":"FIN","codeName":"Financial Code","section":"18018.4","citation":"Fin. Code, § 18018.4","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. 1.4.   Operative January 1, 1991, by Sec. 20 of Ch. 663.","effective":null,"html":"<p>“Mandatory convertible debt,” as used in this division, means a subordinated debt instrument which requires the issuer to convert that instrument into common or perpetual preferred stock by a date at or before the maturity of the debt instrument. The maturity of those instruments shall be 12 years or less.</p>","text":"“Mandatory convertible debt,” as used in this division, means a subordinated debt instrument which requires the issuer to convert that instrument into common or perpetual preferred stock by a date at or before the maturity of the debt instrument. The maturity of those instruments shall be 12 years or less.","otherVersions":[],"url":"https://blackletter.si/financial-code/definitions-18018-4","source":"California Legislative Information bulk export (pubinfo)"}