§ 192.520 - Declaring and paying dividends after the conversion.

§ 192.520 May I declare or pay dividends after I convert?

You

Declaring and paying dividends after the conversion.

A savings association may declare or pay a dividend on your its shares after you convert the conversion if:

(a) The dividend will not reduce your the savings association's regulatory capital below the amount required for your the liquidation account under § 192.450;

(b) You comply The savings association complies with all capital requirements under 12 CFR part 3 or part 167, as applicable after you declare or pay after it declares or pays dividends;

(c) You comply The savings association complies with the capital distribution requirements under § 12 CFR 5.55 of this chapter; and

(d) You do The savings association does not return any capital, other than ordinary dividends, to purchasers during the term of the business plan submitted with the conversion.

[76 FR 49156, Aug. 9, 2011, as amended at 79 FR 11317, Feb. 28, 2014; 80 FR 28481, May 18, 2015]