12 CFR 192.370: Limits on aggregate purchases by officers, directors, and associates.

(a) In general. When a savings association converts, its officers, directors, and their associates may not purchase, in the aggregate, more than the following percentage of the savings association's total stock offering:

Table 1 to § 192.370(a)

Institution size Officer and director purchases (percent)

$50,000,000 or less 35

$50,000,001-100,000,000 34

$100,000,001-150,000,000 33

$150,000,001-200,000,000 32

$200,000,001-250,000,000 31

$250,000,001-300,000,000 30

$300,000,001-350,000,000 29

$350,000,001-400,000,000 28

$400,000,001-450,000,000 27

$450,000,001-500,000,000 26

Over $500,000,000 25

(b) Exception. The purchase limitations in this section do not apply to shares held in tax-qualified employee stock benefit plans that are attributable to the savings association's officers, directors, and their associates.