Kan. Admin. Regs. § 17-9-5 - Investment securities; conversion
(a) The purchase of
investment securities convertible into stock at the option of the issuer shall
be prohibited.
(b) A bank may
purchase investment securities convertible into stock at the option of the
holder or with stock purchase warrants attached if it is apparent that the
price paid for an otherwise eligible security fairly reflects the investment
value of the security itself and does not include any speculative value based
upon the presence of a stock purchase warrant or conversion option.
Notes
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