GroundRules
12 CFR 192.345: Permissible forms of subscriber payment.
Where this section sits in the code
- Title 12—Banks and Banking
- CHAPTER I—COMPTROLLER OF THE CURRENCY, DEPARTMENT OF THE TREASURY
- PART 192—CONVERSIONS FROM MUTUAL TO STOCK FORM
- Subpart A—Standard Conversions
(a) In general. A subscriber may purchase conversion shares with cash, by a withdrawal from a savings account, or a withdrawal from a certificate of deposit. If a subscriber purchases shares by a withdrawal from a certificate of deposit, the savings association may not assess a penalty for the withdrawal.
(b) Prohibition. A savings association may not extend credit to any person to purchase the savings association's conversion shares.
Collected 2026-08-27T02:24:16Z. Source file · JSON