Section 710IAC4-6-4. Nonvoting common stock; unfair practices

   Unless preferential treatment as to dividends and liquidation is provided with respect to the publicly offered securities or the differentiation is otherwise justified, the offering or proposed offering of equity securities of an issuer having more than one (1) class of equity securities authorized or outstanding shall be considered unfair and inequitable to public investors if the class of equity securities offered to the public either has no voting rights or has less than equal voting rights in proportion to the number of shares of each class outstanding on all matters, including the election of members to the board of directors of the issuer. (Securities Division; 710 IAC 4-6-4; filed Jun 28, 2010, 2:36 p.m.: 20100728-IR-710100044FRA; readopted filed May 12, 2016, 1:47 p.m.: 20160608-IR-710160136RFA)