§ 18018.4
50 words·~1 min read·
/ca/financial-code/18018-4A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
“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.