04 NCAC 16F .0110. TRANSFER OF PROCEEDS

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All proceeds from the issuance of any security by a finance subsidiary, net of the reasonable costs associated with the issuance of the securities and the organization of the finance subsidiary, shall be remitted to the finance subsidiary's parent.

History Note: Filed as a Temporary Amendment Eff. October 2, 1991 for a period of 180 days to expire on

March 31, 1992;

Statutory Authority G.S. 54B‑55; 54B‑77; 54B‑195; 54C‑53; 54C‑144; 54C‑146;

Eff. October 1, 1984;

Amended Eff. May 11, 1992.

                    
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