Code of Federal Regulations · Section
§ 192.325 — Timing Of Offer To Sell Conversion Shares
12 C.F.R. § 192.325
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(a) In general. A savings association may offer to sell its conversion shares after the appropriate Federal banking agency approves the conversion, clears the proxy statement, and declares the offering circular effective.
(b) Timing. The offer may commence at the same time the savings association starts the proxy solicitation of its members.
Authorizing Statute
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Administrative provisions12 U.S.C. § 1462a
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Definitions and application15 U.S.C. § 78c