{"data":{"id":"us/12-cfr-192.325","jurisdiction":"us","citation":"12 CFR 192.325","heading":"Timing of offer to sell conversion shares.","body":"(a) In general. A savings association may offer to sell its conversion shares after the appropriate Federal banking agency approves the conversion, clears the proxy statement, and declares the offering circular effective.\n(b) Timing. The offer may commence at the same time the savings association starts the proxy solicitation of its members.","path":["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"],"source_url":"https://www.ecfr.gov/api/versioner/v1/full/2026-08-25/title-12.xml","current_through":"2026-08-25","vintage":"","retrieved_at":"2026-08-27T02:24:16Z","sha256":"12f89b90105492aad61134efc02deae3bab8a3fc60b6cd7edb765f81b8e55169","source_id":"us-cfr","stale":true,"prev":"us/12-cfr-192.320","next":"us/12-cfr-192.330"},"notice":"GroundRules: Original legal text. Not legal advice."}