Permissible forms of subscriber payment.

  1. Law
  2. CFR 12
  3. Banks and Banking
  4. Comptroller of the Currency, Department of the Treasury
  5. Conversions from Mutual to Stock Form
  6. Standard Conversions
  7. Offers and Sales of Stock
  8. Permissible forms of subscriber payment.

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§ 192.345 Permissible forms of subscriber payment.

(a) In general. A subscriber may purchase conversion shares with cash, by a withdrawal from a savings account, or a withdrawal from a certificate of deposit. If a subscriber purchases shares by a withdrawal from a certificate of deposit, the savings association may not assess a penalty for the withdrawal.

(b) Prohibition. A savings association may not extend credit to any person to purchase the savings association's conversion shares.


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