12 C.F.R. § 563b.370 Does OTS limit the aggregate purchases by officers, directors, and their associates?
Title 12 - Banks and Banking
(a) When you convert, your officers, directors, and their associates may not purchase, in the aggregate, more than the following percentage of your total stock offering: (b) The purchase limitations in this section do not apply to shares held in tax-qualified employee stock benefit plans that are attributable to your officers, directors, and their associates.
Title 12: Banks and Banking
PART 563b—CONVERSIONS FROM MUTUAL TO STOCK FORM
Subpart A—Standard Conversions
Offers and Sales of Stock
§ 563b.370 Does OTS limit the aggregate purchases by officers, directors, and their associates?
------------------------------------------------------------------------ Officer and Institution size director purchases (percent)------------------------------------------------------------------------$50,000,000 or less.......................................... 35$50,000,001-100,000,000...................................... 34$100,000,001-150,000,000..................................... 33$150,000,001-200,000,000..................................... 32$200,000,001-250,000,000..................................... 31$250,000,001-300,000,000..................................... 30$300,000,001-350,000,000..................................... 29$350,000,001-400,000,000..................................... 28$400,000,001-450,000,000..................................... 27$450,000,001-500,000,000..................................... 26Over $500,000,000............................................ 25------------------------------------------------------------------------
