12 C.F.R. § 563b.125 Must my board of directors adopt a plan of conversion?
Title 12 - Banks and Banking
Prior to filing an application for conversion, your board of directors must adopt a plan of conversion that conforms to §§563b.320 through 563b.485 and 563b.505. Your board of directors must adopt the plan by at least a two-thirds vote. Your plan of conversion is required, under §563b.150, to be included in your conversion application.
Title 12: Banks and Banking
PART 563b—CONVERSIONS FROM MUTUAL TO STOCK FORM
Subpart A—Standard Conversions
Plan of Conversion
§ 563b.125 Must my board of directors adopt a plan of conversion?
