If the Commissioner approves, a commercial bank may issue and sell debt instruments that are repayable on the terms and bear the rate of interest, if any, stated in the instruments. The issuance of a debt instrument does not impair the capital stock of a commercial bank if the amount of the debt instrument is represented by cash or sound assets that exceed the impairment determined by the Commissioner. The holder of a debt instrument is not subject to any liability imposed on stockholders under any law of this State. In the event of liquidation, a debt instrument is: Subordinate to the claims of any depositor or creditor; and Preferred to the claim of any stockholder. Each holder of a debt instrument has the voting rights that the charter provides and the Commissioner approves. A reference in this article to a required vote of the holders of the capital stock of a commercial bank includes holders of debt instruments to the extent that they are entitled to vote under this subsection. Before a commercial bank retires or pays any debt instrument: It shall obtain the approval of the Commissioner; and Any existing deficit in its capital, disregarding any debt instrument to be retired, shall be paid in cash so that the sound capital assets of the commercial bank are at least equal to its capital stock.