A bond that allows for the compounding of interest, including, but not limited to, a capital appreciation bond, maturing more than 10 years after its date of issuance shall be subject to redemption before its fixed maturity date, with or without a premium, at any time, or from time to time, at the option of the issuer, beginning no later than the 10th anniversary of the date the bond that allows for the compounding of interest was issued.
(Added by Stats. 2013, Ch. 477, Sec. 3. (AB 182) Effective January 1, 2014.)
Last modified: October 25, 2018