12 C.F.R. § 563b.345 How may a subscriber pay for my conversion shares?
Title 12 - Banks and Banking
(a) 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, you may not assess a penalty for the withdrawal. (b) You may not extend credit to any person to purchase your conversion shares.
Title 12: Banks and Banking
PART 563b—CONVERSIONS FROM MUTUAL TO STOCK FORM
Subpart A—Standard Conversions
Offers and Sales of Stock
§ 563b.345 How may a subscriber pay for my conversion shares?
