12 C.F.R. § 563b.625 When is a savings association eligible for a voluntary supervisory conversion?
Title 12 - Banks and Banking
(a) If you are an insured savings association, you may be eligible to convert under this subpart if: (1) You are significantly undercapitalized (or you are undercapitalized and a standard conversion that would make you adequately capitalized is not feasible) and you will be a viable entity following the conversion; (2) Severe financial conditions threaten your stability and a conversion is likely to improve your financial condition; (3) FDIC will assist you under section 13 of the Federal Deposit Insurance Act, 12 U.S.C. 1823; or (4) You are in receivership and a conversion will assist you. (b) You will be a viable entity following the conversion if you satisfy all of the following: (1) You will be adequately capitalized as a result of the conversion; (2) You, your proposed conversion, and your acquiror(s) comply with applicable supervisory policies; (3) The transaction is in your best interest, and the best interest of the Deposit Insurance Fund and the public; and (4) The transaction will not injure or be detrimental to you, the Deposit Insurance Fund, or the public interest. [67 FR 52020, Aug. 9, 2002, as amended at 71 FR 19811, Apr. 18, 2006]
Title 12: Banks and Banking
PART 563b—CONVERSIONS FROM MUTUAL TO STOCK FORM
Subpart B—Voluntary Supervisory Conversions
Eligibility
§ 563b.625 When is a savings association eligible for a voluntary supervisory conversion?
