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Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS

Chapter 379

previous next Effective - 28 Aug 2007bottom

  379.1397.  Changes in plan of operation, directors approval required. — Any material changes to a SPLRC's plan of operation shall require the prior written approval of the director.  However, if initially approved in the plan of operation, the subsequent issuance of securities, additional financing, substitution of a party to a swap transaction with a party of similar rating or the inclusion of additional business under a SPLRC contract shall not be considered a material change.

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(L. 2007 S.B. 215)


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