12 C.F.R. § 192.370

Current through August 31, 2024

Section 192.370 - Limits on aggregate purchases by officers, directors, and associates

(a)In general. When a savings association converts, its officers, directors, and their associates may not purchase, in the aggregate, more than the following percentage of the savings association's total stock offering:

Table 1 to § 192.370(a)

Institution size	Officer and director purchases (percent)
$50,000,000 or less	35
$50,000,001-100,000,000	34
$100,000,001-150,000,000	33
$150,000,001-200,000,000	32
$200,000,001-250,000,000	31
$250,000,001-300,000,000	30
$300,000,001-350,000,000	29
$350,000,001-400,000,000	28
$400,000,001-450,000,000	27
$450,000,001-500,000,000	26
Over $500,000,000	25

(b)Exception. The purchase limitations in this section do not apply to shares held in tax-qualified employee stock benefit plans that are attributable to the savings association's officers, directors, and their associates.

12 C.F.R. §192.370

85 FR 42643, 8/13/2020