12 CFR 192.370
§ 192.370 Limits on aggregate purchases by officers, directors, and associates.
United States · 12 CFR — Banks and Banking · Status: effective
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- Citation
- 12 CFR 192.370, § 192.370 Limits on aggregate purchases by officers, directors, and associates, United States, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/43970
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Full text
(a) In general. When a savings association converts, its officers, directors, and their associates may not purchase, in the aggregate, more than the following percentage of the savings association's total stock offering:
Table 1 to § 192.370(a)
(b) Exception. The purchase limitations in this section do not apply to shares held in tax-qualified employee stock benefit plans that are attributable to the savings association's officers, directors, and their associates.
Legislative history
This is a federal regulation, adopted through agency rulemaking under the Administrative Procedure Act — not enacted by a recorded vote of Congress.