§ 192.625 - Eligibility for a voluntary supervisory conversion.

§ 192.625 When is a savings association eligible Eligibility for a voluntary supervisory conversion?.

(a) If you are an Eligibility. An insured savings association , you may be eligible to convert under this subpart B if:

(1) You are The savings association is significantly undercapitalized (or you are undercapitalized and a standard conversion that would make you the savings association adequately capitalized is not feasible) and you the savings association will be a viable entity following the conversion;

(2) Severe financial conditions threaten your the savings association's stability and a conversion is likely to improve your its financial condition;

(3) The FDIC will assist you the savings association under section 13 of the Federal Deposit Insurance Act, 12 U.S.C. 1823; or

(4) You are The savings association is in receivership and a conversion will assist youthe savings association.

(b) You Requirements for viability after conversion. The savings association will be a viable entity following the conversion if you satisfy it satisfies all of the following:

(1) You The savings association will be adequately capitalized as a result of the conversion;

(2) You The savings association, your its proposed conversion, and your its acquiror(s) comply with applicable supervisory policies;

(3) The transaction is in your the savings association's best interest, and the best interest of the Deposit Insurance Fund and the public; and

(4) The transaction will not injure or be detrimental to youthe savings association, the Deposit Insurance Fund, or the public interest.