Title 12

PART 192

Part 192 - Conversions From Mutual To Stock Form

PART 192 - CONVERSIONS FROM MUTUAL TO STOCK FORM Authority:12 U.S.C. 1462a, 1463, 1464, 1467a, 2901 et seq., 5412(b)(2)(B); 15 U.S.C. 78c, 78l, 78m, 78n, 78w. Source:85 FR 42643, July 14, 2020, unless otherwise noted.

12:1.0.1.1.82.0.70.1SECTION 192.5
   192.5 Purpose, prescribed forms, waiver.
12:1.0.1.1.82.0.70.2SECTION 192.7
   192.7 Electronic filing.
12:1.0.1.1.82.0.70.3SECTION 192.8
   192.8 Computation of time.
12:1.0.1.1.82.0.70.4SECTION 192.10
   192.10 Forming a holding company upon conversion.
12:1.0.1.1.82.0.70.5SECTION 192.15
   192.15 Forming a charitable organization upon conversion.
12:1.0.1.1.82.0.70.6SECTION 192.20
   192.20 Acquiring another insured depository institution upon conversion.
12:1.0.1.1.82.0.70.7SECTION 192.25
   192.25 Definitions.
12:1.0.1.1.82.1SUBPART A
Subpart A - Standard Conversions
12:1.0.1.1.82.1.70SUBJGRP 70
   Prior to Conversion
12:1.0.1.1.82.1.70.1SECTION 192.100
   192.100 Preparing for a conversion.
12:1.0.1.1.82.1.70.2SECTION 192.105
   192.105 Information required in business plan.
12:1.0.1.1.82.1.70.3SECTION 192.110
   192.110 Review of business plan by chief executive officer and board of directors.
12:1.0.1.1.82.1.70.4SECTION 192.115
   192.115 Review of business plan by the appropriate Federal banking agency.
12:1.0.1.1.82.1.70.5SECTION 192.120
   192.120 Confidentiality of conversion information.
12:1.0.1.1.82.1.71SUBJGRP 71
   Plan of Conversion
12:1.0.1.1.82.1.71.6SECTION 192.125
   192.125 Adoption of plan of conversion by board of directors.
12:1.0.1.1.82.1.71.7SECTION 192.130
   192.130 Information required in plan of conversion.
12:1.0.1.1.82.1.71.8SECTION 192.135
   192.135 Notifying members of adopted plan of conversion.
12:1.0.1.1.82.1.71.9SECTION 192.140
   192.140 Amendments to plan of conversion.
12:1.0.1.1.82.1.72SUBJGRP 72
   Filing Requirements
12:1.0.1.1.82.1.72.10SECTION 192.150
   192.150 Information required in an application for conversion.
12:1.0.1.1.82.1.72.11SECTION 192.155
   192.155 Filing an application for conversion.
12:1.0.1.1.82.1.72.12SECTION 192.160
   192.160 Request for confidential treatment.
12:1.0.1.1.82.1.72.13SECTION 192.165
   192.165 Amendments to an application for conversion.
12:1.0.1.1.82.1.73SUBJGRP 73
   Notice of Filing of Application and Comment Process
12:1.0.1.1.82.1.73.14SECTION 192.180
   192.180 Public notice of an application for conversion.
12:1.0.1.1.82.1.73.15SECTION 192.185
   192.185 Public comment on application for conversion.
12:1.0.1.1.82.1.74SUBJGRP 74
   Agency Review of the Application for Conversion
12:1.0.1.1.82.1.74.16SECTION 192.200
   192.200 Review, approval, or denial of application for conversion.
12:1.0.1.1.82.1.74.17SECTION 192.205
   192.205 Court review of final action on application for conversion.
12:1.0.1.1.82.1.75SUBJGRP 75
   Vote by Members
12:1.0.1.1.82.1.75.18SECTION 192.225
   192.225 Approval of plan of conversion by members.
12:1.0.1.1.82.1.75.19SECTION 192.230
   192.230 Members' voting eligibility.
12:1.0.1.1.82.1.75.20SECTION 192.235
   192.235 Notice of members' meeting.
12:1.0.1.1.82.1.75.21SECTION 192.240
   192.240 Submission of documents to the appropriate Federal banking agency after the members' meeting.
12:1.0.1.1.82.1.76SUBJGRP 76
   Proxy Solicitation
12:1.0.1.1.82.1.76.22SECTION 192.250
   192.250 Compliance with proxy solicitation provisions.
12:1.0.1.1.82.1.76.23SECTION 192.255
   192.255 Form of proxy requirements.
12:1.0.1.1.82.1.76.24SECTION 192.260
   192.260 Previously executed proxies.
12:1.0.1.1.82.1.76.25SECTION 192.265
   192.265 Proxies executed under this part.
12:1.0.1.1.82.1.76.26SECTION 192.270
   192.270 Proxy statement requirements.
12:1.0.1.1.82.1.76.27SECTION 192.275
   192.275 Filing revised proxy materials.
12:1.0.1.1.82.1.76.28SECTION 192.280
   192.280 Mailing member's proxy solicitation materials.
12:1.0.1.1.82.1.76.29SECTION 192.285
   192.285 Prohibited solicitations.
12:1.0.1.1.82.1.76.30SECTION 192.290
   192.290 Remedial measures for prohibited solicitations.
12:1.0.1.1.82.1.76.31SECTION 192.295
   192.295 Re-solicitation of proxies.
12:1.0.1.1.82.1.77SUBJGRP 77
   Offering Circular
12:1.0.1.1.82.1.77.32SECTION 192.300
   192.300 Offering circular requirements.
12:1.0.1.1.82.1.77.33SECTION 192.305
   192.305 Distribution of offering circular.
12:1.0.1.1.82.1.77.34SECTION 192.310
   192.310 Filing a post-effective amendment to an offering circular.
12:1.0.1.1.82.1.78SUBJGRP 78
   Offers and Sales of Stock
12:1.0.1.1.82.1.78.35SECTION 192.320
   192.320 Order of priority to purchase conversion shares.
12:1.0.1.1.82.1.78.36SECTION 192.325
   192.325 Timing of offer to sell conversion shares.
12:1.0.1.1.82.1.78.37SECTION 192.330
   192.330 Pricing of conversion shares.
12:1.0.1.1.82.1.78.38SECTION 192.335
   192.335 Procedures for the sale of conversion shares.
12:1.0.1.1.82.1.78.39SECTION 192.340
   192.340 Prohibited sales practices.
12:1.0.1.1.82.1.78.40SECTION 192.345
   192.345 Permissible forms of subscriber payment.
12:1.0.1.1.82.1.78.41SECTION 192.350
   192.350 Interest on payments for conversion shares.
12:1.0.1.1.82.1.78.42SECTION 192.355
   192.355 Subscription rights for eligible account holders and supplemental eligible account holders.
12:1.0.1.1.82.1.78.43SECTION 192.360
   192.360 Officers, directors, and associates as eligible account holders.
12:1.0.1.1.82.1.78.44SECTION 192.365
   192.365 Purchase of conversion shares by other voting members.
12:1.0.1.1.82.1.78.45SECTION 192.370
   192.370 Limits on aggregate purchases by officers, directors, and associates.
12:1.0.1.1.82.1.78.46SECTION 192.375
   192.375 Allocation of oversubscribed conversion shares.
12:1.0.1.1.82.1.78.47SECTION 192.380
   192.380 Purchase of conversion shares by employee stock ownership plan.
12:1.0.1.1.82.1.78.48SECTION 192.385
   192.385 Purchase limitations.
12:1.0.1.1.82.1.78.49SECTION 192.390
   192.390 Community offering of conversion shares.
12:1.0.1.1.82.1.78.50SECTION 192.395
   192.395 Other conditions for community and public offerings.
12:1.0.1.1.82.1.79SUBJGRP 79
   Completion of the Offering
12:1.0.1.1.82.1.79.51SECTION 192.400
   192.400 Time period for completion of sale of stock.
12:1.0.1.1.82.1.79.52SECTION 192.405
   192.405 Extension of the offering period.
12:1.0.1.1.82.1.79.53SECTION 192.420
   192.420 Time period for completion of conversion.
12:1.0.1.1.82.1.79.54SECTION 192.425
   192.425 Termination of conversion.
12:1.0.1.1.82.1.79.55SECTION 192.430
   192.430 Charter amendments.
12:1.0.1.1.82.1.79.56SECTION 192.435
   192.435 Corporate existence after conversion.
12:1.0.1.1.82.1.79.57SECTION 192.440
   192.440 Stockholder voting rights after conversion.
12:1.0.1.1.82.1.79.58SECTION 192.445
   192.445 Savings account holder's account after conversion.
12:1.0.1.1.82.1.79.59SECTION 192.450
   192.450 Liquidation accounts.
12:1.0.1.1.82.1.79.60SECTION 192.455
   192.455 Initial balance of liquidation account.
12:1.0.1.1.82.1.79.61SECTION 192.460
   192.460 Initial balance of liquidation sub-account.
12:1.0.1.1.82.1.79.62SECTION 192.465
   192.465 Retention of voting rights based on liquidation sub-accounts.
12:1.0.1.1.82.1.79.63SECTION 192.470
   192.470 Required adjustments to liquidation sub-accounts.
12:1.0.1.1.82.1.79.64SECTION 192.475
   192.475 Definition of liquidation.
12:1.0.1.1.82.1.79.65SECTION 192.480
   192.480 Effect of liquidation account on net worth.
12:1.0.1.1.82.1.79.66SECTION 192.485
   192.485 Required liquidation account provision in new Federal charter.
12:1.0.1.1.82.1.80SUBJGRP 80
   Post-Conversion
12:1.0.1.1.82.1.80.67SECTION 192.500
   192.500 Permissible management stock benefit plans after conversion.
12:1.0.1.1.82.1.80.68SECTION 192.505
   192.505 Restrictions on the trading of shares by directors, officers, and associates.
12:1.0.1.1.82.1.80.69SECTION 192.510
   192.510 Repurchase of shares after conversion.
12:1.0.1.1.82.1.80.70SECTION 192.515
   192.515 Information to be filed with Federal banking agency prior to repurchase of shares.
12:1.0.1.1.82.1.80.71SECTION 192.520
   192.520 Declaring and paying dividends after the conversion.
12:1.0.1.1.82.1.80.72SECTION 192.525
   192.525 Restrictions on acquisition of shares after conversion.
12:1.0.1.1.82.1.80.73SECTION 192.530
   192.530 Other post-conversion requirements.
12:1.0.1.1.82.1.81SUBJGRP 81
   Contributions to Charitable Organizations
12:1.0.1.1.82.1.81.74SECTION 192.550
   192.550 Donating conversion shares or conversion proceeds to a charitable organization.
12:1.0.1.1.82.1.81.75SECTION 192.555
   192.555 Member approval of charitable contributions.
12:1.0.1.1.82.1.81.76SECTION 192.560
   192.560 Limitations on charitable contributions.
12:1.0.1.1.82.1.81.77SECTION 192.565
   192.565 Contents of organizational documents of charitable organization.
12:1.0.1.1.82.1.81.78SECTION 192.570
   192.570 Conflicts of interest among directors.
12:1.0.1.1.82.1.81.79SECTION 192.575
   192.575 Other requirements for charitable organizations.
12:1.0.1.1.82.2SUBPART B
Subpart B - Voluntary Supervisory Conversions
12:1.0.1.1.82.2.82SUBJGRP 82
   Eligibility
12:1.0.1.1.82.2.82.1SECTION 192.600
   192.600 Voluntary supervisory conversions.
12:1.0.1.1.82.2.82.2SECTION 192.605
   192.605 Conducting a voluntary supervisory conversion.
12:1.0.1.1.82.2.82.3SECTION 192.610
   192.610 Member rights in a voluntary supervisory conversion.
12:1.0.1.1.82.2.82.4SECTION 192.625
   192.625 Eligibility for a voluntary supervisory conversion.
12:1.0.1.1.82.2.82.5SECTION 192.630
   192.630 Eligibility of State-chartered savings bank for voluntary supervisory conversion.
12:1.0.1.1.82.2.83SUBJGRP 83
   Plan of Supervisory Conversion
12:1.0.1.1.82.2.83.6SECTION 192.650
   192.650 Contents of plan of voluntary supervisory conversion.
12:1.0.1.1.82.2.84SUBJGRP 84
   Voluntary Supervisory Conversion Application
12:1.0.1.1.82.2.84.7SECTION 192.660
   192.660 Contents of voluntary supervisory conversion application.
12:1.0.1.1.82.2.85SUBJGRP 85
   Appropriate Federal Banking Agency Review of the Voluntary Supervisory Conversion Application
12:1.0.1.1.82.2.85.8SECTION 192.670
   192.670 Approval of voluntary supervisory conversion application.
12:1.0.1.1.82.2.85.9SECTION 192.675
   192.675 Conditions imposed upon approval of voluntary supervisory conversion application.
12:1.0.1.1.82.2.86SUBJGRP 86
   Offers and Sales of Stock
12:1.0.1.1.82.2.86.10SECTION 192.680
   192.680 Offer and sale of shares in a voluntary supervisory conversion.
12:1.0.1.1.82.2.86.11SECTION 192.690
   192.690 Restrictions on acquisition of additional shares after voluntary supervisory conversion.