B. Usual Features ofPreferred Stock

• 1. Voting

  • Usually nonvoting but does have contingent voting rights. This is the right to elect some of the directors.
  • Usually have the right to vote approval on the issuance of additional Preferred Stock.

• 2. Maturity and Call

  • Typically Preferred Stock has no maturity date (like C/S)
  • The typical Preferred is callable.

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