RSA 396:9 Preferred Stock or Shares.

Notwithstanding any other provision of law the stock or shareholders of any institution under the supervision of the commissioner, with or without conservatorship, having capital stock or shares, including certificates of ownership of capital, surplus and undivided profits or guaranty or special funds may by majority vote of said stock or shares, with the approval of the commissioner, issue such additional stock or shares as the needs of such institution require. Such additional stock or shares may be of such classes of preference over other stock or shares as to dividends, retirement, and distribution in liquidation, and such classes may be of such par value as the commissioner shall determine. No dividends on stock or shares issued and outstanding at the time of the first issue of prefe