Section 36a-136-24 - Subscription rights of eligible account holders and supplemental eligible account holders(a) The converting institution shall give each eligible account holder subscription rights to purchase conversion shares in an amount equal to the greater of: (1) The maximum purchase limitation established for the community offering or the public offering under section 36a-136-32 of the Regulations of Connecticut State Agencies;(2) One-tenth of one per cent of the total stock offering; or(3) Fifteen times the following number: The total number of conversion shares that will be issued multiplied by a fraction whose numerator is the total qualifying deposit of the eligible account holder and denominator is the total qualifying deposits of all eligible account holders. The product of this multiplied fraction shall be rounded to the next whole number.(b) The converting institution shall give subscription rights to purchase shares to each supplemental eligible account holder in the same amount as described in subsection (a) of this section, except that the numerator of the fraction described in subdivision (3) of subsection (a) of this section shall be the total qualifying deposit of the supplemental eligible account holder and the denominator shall be the total qualifying deposits of all supplemental eligible account holders.Conn. Agencies Regs. § 36a-136-24
Adopted effective September 7, 2007