Conn. Agencies Regs. § 36a-136-27

Current through October 16, 2024

Section 36a-136-27 - Limitations on the aggregate purchases of conversion shares by officers, directors and their associates

(a) Officers and directors of the converting institution and their associates shall not purchase, in the aggregate, more than the following percentage of the total stock offering in the conversion:

	Officer, director and associate
Institution size	purchases (per cent)
$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) The purchase limitations in this section shall not apply to shares held in tax-qualified employee stock benefit plans that are attributable to the officers, directors and their associates.

Conn. Agencies Regs. § 36a-136-27

Adopted effective September 7, 2007