"Equity security", when used in this chapter, means any stock or similar security; or any security convertible, with or without consideration, into such a security, or carrying any warrant or right to subscribe to or purchase such a security; or any such warrant or right; or any other security which the director or his designee considers to be of similar nature and considers necessary or appropriate, by any regulation the department may prescribe in the public interest or for the protection of investors, to treat as an equity security.
HISTORY: Former 1976 Code Section 38-23-20 [1947 (45) 322; 1952 Code Section 37-1002; 1962 Code Section 37-1002] recodified as Section 38-35-20 by 1987 Act No. 155, Section 1; Former 1976 Code Section 35-9-20 [1962 Code Section 62-477; 1966 (54) 2146] recodified as Section 38-23-20 by 1987 Act No. 155, Section 1; 1993 Act No. 181, Section 593.