§ 192.375 - Allocation of oversubscribed conversion shares.

§ 192.375 How do I allocate my conversion shares if my shares are oversubscribed?Allocation of oversubscribed conversion shares.

(a) If your Eligible account holders. If a savings association's conversion shares are oversubscribed by your its eligible account holders, you the savings association must allocate shares among the eligible account holders so that each, to the extent possible, may purchase 100 shares.

(b) If your Supplemental eligible account holders. If a savings association's conversion shares are oversubscribed by your its supplemental eligible account holders, you the savings association must allocate shares among the supplemental eligible account holders so that each, to the extent possible, may purchase 100 shares.

(c) Eligible and supplemental eligible account holders. If a person is an eligible account holder and a supplemental eligible account holder, you the savings association must include the eligible account holder's allocation in determining the number of conversion shares that you the savings association may allocate to the person as a supplemental eligible account holder.

(d) Additional allocations. For conversion shares that you do the savings association does not allocate under paragraphs (a) and (b) of this section, you the savings association must allocate the shares among the eligible or supplemental eligible account holders equitably, based on the amounts of qualifying deposits. You The savings association must describe this method of allocation in your its plan of conversion.

(e) Oversubscription. If shares remain after you have the savings association has allocated shares as provided in paragraphs (a) and (b) of this section, and if your the savings association's voting members oversubscribe, you the savings association must allocate your its conversion shares among those members equitably. You The savings association must describe the method of allocation in your its plan of conversion.