12 CFR 563b.395 - What other conditions apply when I offer conversion shares in a community offering, a public offering, or both?

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TITLE 12 - BANKS AND BANKING

CHAPTER V - OFFICE OF THRIFT SUPERVISION, DEPARTMENT OF THE TREASURY

PART 563B - CONVERSIONS FROM MUTUAL TO STOCK FORM

subpart a - STANDARD CONVERSIONS

563b.395 - What other conditions apply when I offer conversion shares in a community offering, a public offering, or both?

  (a) You must offer and sell your stock to achieve a widespread distribution of the stock.

  (b) If you offer shares in a community offering, a public offering, or both, you must first fill orders for your stock up to a maximum of two percent of the conversion stock on a basis that will promote a widespread distribution of stock. You must allocate any remaining shares on an equal number of shares per order basis until you fill all orders.

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