{"data":{"id":"us-ca/fin-18018.3","jurisdiction":"us-ca","citation":"FIN § 18018.3","heading":"","body":"“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.","path":["Financial Code - FIN","DIVISION 7. INDUSTRIAL LOAN COMPANIES [18000. - 18707.]","CHAPTER 1. General Provisions [18000. - 18063.]","ARTICLE 1. Definitions [18000. - 18019.]"],"source_url":"https://downloads.leginfo.legislature.ca.gov/pubinfo_2025.zip","current_through":"2026-09-13","vintage":"","retrieved_at":"2026-09-14T05:56:33Z","sha256":"824c77e110652ffc0351b58cb230fbedd6ece1814a2545c51cb69f63f04060d6","source_id":"us-ca","stale":false,"prev":"us-ca/fin-18018.2","next":"us-ca/fin-18018.4"},"notice":"GroundRules: Original legal text. Not legal advice."}