§ 53-158.1. Scope of preferred stock provisions. - North Carolina Statutes

§ 53‑158.1.  Scope ofpreferred stock provisions.

All provisions of this Articlerelating to preferred stock apply only to the emergency issuance of preferredstock, pursuant to the provisions of G.S. 53‑154, by a bank inconservatorship. The provisions of this Article do not affect the issuance ortreatment of preferred stock, or other shares authorized by Chapter 55 of theGeneral Statutes in accordance with G.S. 53‑10(a) and G.S. 53‑135,provided the issuance of preferred stock or any shares other than commoncapital stock shall have been approved by the Commissioner of Banks. (2005‑269, s. 19.)