Current through November 30, 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.