R339-4-4. Disclosure

All subordinated capital notes or debentures issued by an industrial loan corporation shall have the following provisions made in the body of the note or debenture and these provisions shall be disclosed in either a bold face type or in a size of type which is larger than the type face used in the other provisions carried in the body of the note or debenture.

(1) This obligation is NOT insured by any agency of the United States or the state.

(2) This obligation is subordinated to the claims of all certificates of deposit, deposits and savings accounts and all other creditors.

(3) Subordinated capital notes or debentures shall not be used as collateral for loans made by the industrial loan corporation.

(4) Items (1) and (2) listed above shall be prominently disclosed in all advertising of capital notes or debentures.