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Code of Federal Regulations (Last Updated: May 6, 2024) |
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Title 12 - Banks and Banking |
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Chapter I - Comptroller of the Currency, Department of the Treasury |
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Part 192 - Conversions from Mutual to Stock Form |
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Subpart A - Standard Conversions |
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Vote by Members |
§ 192.235 - Notice of members' meeting.
Latest version.
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§ 192.235 How must I notify my members of the meeting?
(a) You must notify your members of the meeting to consider your conversion by sending the members a proxy statement cleared by the appropriate Federal banking agency.
(b) You must notify your members 20 to 45 days before your meeting, unless you are a state-chartered savings association and state law requires a different notice period.
(c) You must also notify each beneficial holder of an account held in a fiduciary capacity:
(1) If you are a Federal savings association, and the name of the beneficial holder is disclosed on your records; or
(2) If you are a state-chartered association and the beneficial holder possesses voting rights under state law.