12 C.F.R. § 563b.300 What must happen before OTS declares my offering circular effective?
Title 12 - Banks and Banking
(a) You must prepare and file your offering circular with OTS in compliance with this part and Form OC and, where applicable, part 563g of this chapter. Section 563b.155 governs where to file your offering circular. You may obtain Form OC from OTS Washington and Regional Offices (see §516.40 of this chapter) and OTS's website (http://www.ots.treas.gov). (b) You must condition your stock offering upon member approval of your plan of conversion. (c) OTS will review the Form OC and may comment on the included disclosures and financial statements. (d) You must file seven copies of each revised offering circular, final offering circular, and any post-effective amendment to the final offering circular. (e) OTS will not approve the adequacy or accuracy of the offering circular or the disclosures. (f) After you satisfactorily address OTS's concerns, you must request OTS to declare your Form OC effective for a time period. The time period may not exceed the maximum time period for the completion of the sale of all of your shares under §563b.400.
Title 12: Banks and Banking
PART 563b—CONVERSIONS FROM MUTUAL TO STOCK FORM
Subpart A—Standard Conversions
Offering Circular
§ 563b.300 What must happen before OTS declares my offering circular effective?
