§ 26-43. When pro forma fixed charges or dividend requirements may be used
In testing a new issue of securities under the provisions of § 26-40, it shall be permissible, in determining the number of times that fixed charges or preferred dividend requirements have been earned, to use pro forma fixed charges or dividend requirements, provided the corporation or its corporate predecessor has been in existence for a period of not less than seven years.
(Code 1919, § 5431; 1942, p. 662.)
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