12 CFR 192.320
§ 192.320 Order of priority to purchase conversion shares.
United States · 12 CFR — Banks and Banking · Status: effective
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- Citation
- 12 CFR 192.320, § 192.320 Order of priority to purchase conversion shares, United States, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/43960
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Full text
A savings association must offer to sell its shares in the following order:
(a) Eligible account holders.
(b) Tax-qualified employee stock ownership plans.
(c) Supplemental eligible account holders.
(d) Other voting members who have subscription rights.
(e) The savings association's community, its community and the general public, or the general public.
Legislative history
This is a federal regulation, adopted through agency rulemaking under the Administrative Procedure Act — not enacted by a recorded vote of Congress.