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Code of Federal Regulations (Last Updated: July 5, 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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Post-Conversion |
§ 563b.520 - May I declare or pay dividends after I convert?
Latest version.
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§ 563b.520 May I declare or pay dividends after I convert?
You may declare or pay a dividend on your shares after you convert if:
(a) The dividend will not reduce your regulatory capital below the amount required for your liquidation account under § 563b.450;
(b) You comply with all capital requirements under part 567 of this chapter after you declare or pay dividends;
(c) You comply with the capital distribution requirements under part 563, subpart E, of this chapter; and
(d) You do not return any capital, other than ordinary dividends, to purchasers during the term of the business plan submitted with the conversion.