R.C.S.A. § 36a-136-32
Other conditions applicable to the offering of conversion shares in a community offering, a public offering or both
Cite as Conn. Agencies Regs. § 36a-136-32
a public offering or both
(a) The converting institution shall offer and sell its stock to achieve a widespread
distribution of the stock.
(b) If the converting institution offers shares in a community offering, a public offering
or both, the converting institution shall first fill orders for its stock up to a
maximum of two per cent of the conversion stock on a basis that will promote a widespread
distribution of stock. Any remaining shares shall be allocated on an equal number
of shares per order basis until all orders are filled.