{"data":{"id":"us/12-cfr-192.345","jurisdiction":"us","citation":"12 CFR 192.345","heading":"Permissible forms of subscriber payment.","body":"(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.\n(b) Prohibition. A savings association may not extend credit to any person to purchase the savings association's conversion shares.","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":"94e601e2036d217f038125c1615af3223b50620d9288a8c13550a99b080b9853","source_id":"us-cfr","stale":true,"prev":"us/12-cfr-192.340","next":"us/12-cfr-192.350"},"notice":"GroundRules: Original legal text. Not legal advice."}