12 CFR 192.420
§ 192.420 Time period for completion of conversion.
United States · 12 CFR — Banks and Banking · Status: effective
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- Citation
- 12 CFR 192.420, § 192.420 Time period for completion of conversion, United States, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/43978
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Full text
In its plan of conversion, a savings association must set a date by which the conversion must be completed. This date must not be more than 24 months from the date that the savings association's members approve the plan of conversion. The date, once set, may not be extended by the savings association or by the appropriate Federal banking agency. The savings association must terminate the conversion if it is not completed by that date. The conversion is complete on the date that the savings association accepts the offers for its stock.
Legislative history
This is a federal regulation, adopted through agency rulemaking under the Administrative Procedure Act — not enacted by a recorded vote of Congress.