{"data":{"id":"us/12-cfr-192.450","jurisdiction":"us","citation":"12 CFR 192.450","heading":"Liquidation accounts.","body":"(a) In general. A liquidation account represents the potential interest of eligible account holders and supplemental eligible account holders in the savings association's net worth at the time of conversion. A savings association must maintain a sub-account to reflect the interest of each account holder.\n(b) Distribution of liquidation. Before a savings association may provide a liquidation distribution to common stockholders, it must give a liquidation distribution to those eligible account holders and supplemental eligible account holders who hold savings accounts from the time of conversion until liquidation.\n(c) Recording of liquidation account in financial statements. A savings association may not record the liquidation account in its financial statements. The savings association must disclose the liquidation account in the footnotes to the savings association's financial statements.","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":"c0f5191e07deeced532081e5d99f2f6ed79a2724a6acbf31672c06bdf41de282","source_id":"us-cfr","stale":true,"prev":"us/12-cfr-192.445","next":"us/12-cfr-192.455"},"notice":"GroundRules: Original legal text. Not legal advice."}