12 C.F.R. § 192.345

Current through August 31, 2024
Section 192.345 - Permissible forms of subscriber payment
(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.

12 C.F.R. §192.345

85 FR 42643, 8/13/2020