§ 192.335 - Procedures for the sale of conversion shares.

§ 192.335 How do I sell my Procedures for the sale of conversion shares?.

(a) You Distribution of order forms. A savings association must distribute order forms to all eligible account holders, supplemental eligible account holders, and other voting members to enable them to subscribe for the conversion shares they are permitted under the plan of conversion. You The savings association may either send the order forms with your its offering circular or after you distribute your the savings association distributes its offering circular.

(b) You Sale of shares. A savings association may sell your its conversion shares in a community offering, a public offering, or both. You The savings association may begin the community offering, the public offering, or both at any time during the subscription offering or upon conclusion of the subscription offering.

(c) You Underwriting commissions and fees. A savings association may pay underwriting commissions (including underwriting discounts). The appropriate Federal banking agency may object to the payment of unreasonable commissions. You The savings association may reimburse an underwriter for accountable expenses in a subscription offering if the public offering is limited. If no public offering occurs, you the savings association may pay an underwriter a consulting fee. The appropriate Federal banking agency may object to the payment of unreasonable consulting fees.

(d) If you conduct Sequence of order fulfillment. If a savings association conducts the community offering, the public offering, or both at the same time as the subscription offering, you the savings association must fill all subscription orders first.

(e) You Preparation of order form. A savings association must prepare your its order form in compliance with this part and Form OF.