12 CFR 192.390
§ 192.390 Community offering of conversion shares.
United States · 12 CFR — Banks and Banking · Status: effective
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- Citation
- 12 CFR 192.390, § 192.390 Community offering of conversion shares, United States, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/43974
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Full text
(a) Purchase preference in subscription offering. In a subscription offering, a savings association may give a purchase preference to eligible account holders, supplemental eligible account holders, and voting members residing in its local community.
(b) Purchase preference in community offering. In a community offering, a savings association must give a purchase preference to natural persons residing in its local community.
Legislative history
This is a federal regulation, adopted through agency rulemaking under the Administrative Procedure Act — not enacted by a recorded vote of Congress.