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Code of Federal Regulations (Last Updated: November 8, 2024) |
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Title 12 - Banks and Banking |
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Chapter V - Office of Thrift Supervision, Department of the Treasury |
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Part 563b - Conversions from Mutual to Stock Form |
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Subpart A - Standard Conversions |
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Plan of Conversion |
§ 563b.125 - Must my board of directors adopt a plan of conversion?
Latest version.
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§ 563b.125 Must my board of directors adopt a plan of conversion?
Prior to filing an application for conversion, your board of directors must adopt a plan of conversion that conforms to §§ 563b.320 through 563b.485 and 563b.505. Your board of directors must adopt the plan by at least a two-thirds vote. Your plan of conversion is required, under § 563b.150, to be included in your conversion application.