12 CFR 192.345
§ 192.345 Permissible forms of subscriber payment.
United States · 12 CFR — Banks and Banking · Status: effective
Cite this
- Citation
- 12 CFR 192.345, § 192.345 Permissible forms of subscriber payment, United States, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/43965
- Permanent ID
ys:prov:43965@1- SHA-256
bb3e45b403478bcc3aff9cd7b2c54d7f51860337dd84b05135c16426f48c207e
The hash is SHA-256 of this version's text, with every run of whitespace collapsed to a single space and the ends trimmed. The ID always leads back here, and checking it says whether the text you cited is still the current version.
Full text
(a) In general. A subscriber may purchase conversion shares with cash, by a withdrawal from a savings account, or a withdrawal from a certificate of deposit. If a subscriber purchases shares by a withdrawal from a certificate of deposit, the savings association may not assess a penalty for the withdrawal.
(b) Prohibition. A savings association may not extend credit to any person to purchase the savings association's conversion shares.
Legislative history
This is a federal regulation, adopted through agency rulemaking under the Administrative Procedure Act — not enacted by a recorded vote of Congress.