Declaration or payments of dividends after conversion

The converting institution may declare or pay a dividend on its shares after the conversion if: (1) The dividend will not reduce its regulatory capital below the amount required for the liquidation account under section 36a-136-37 of the Regulations of Connecticut State Agencies; (2) It complies with the requirements of section 36a-110 of the Connecticut General Statutes; and (3) It does not return any capital, other than ordinary dividends, to purchasers during the term of the business plan submitted with the conversion.