12 C.F.R. § 192.345

Permissible forms of subscriber payment.

Last amended: 2020Year: 2026Length: 69 wordsSubsections: 1Official source

Cite as 12 C.F.R. § 192.345 (2026)

(a) In general. A subscriber may purchase conversion shares with cash, by a withdrawal from a savings account, or a withdrawal from a certificate of deposit. If a subscriber purchases shares by a withdrawal from a certificate of deposit, the savings association may not assess a penalty for the withdrawal. (b) Prohibition. A savings association may not extend credit to any person to purchase the savings association's conversion shares.
12 C.F.R. § 192.345: Permissible forms of subscriber payment. | Justis AI