12 C.F.R. § 563b.555 How do my members approve a charitable contribution?
Title 12 - Banks and Banking
At the meeting to consider your conversion, your members must separately approve by at least a majority of the total eligible votes, a contribution of conversion shares or proceeds. If you are in mutual holding company form and adding a charitable contribution as part of a second step stock conversion, you must also have your minority shareholders separately approve the charitable contribution by a majority of their total eligible votes.
Title 12: Banks and Banking
PART 563b—CONVERSIONS FROM MUTUAL TO STOCK FORM
Subpart A—Standard Conversions
Contributions to Charitable Organizations
§ 563b.555 How do my members approve a charitable contribution?
