§ 192.345. Permissible forms of subscriber payment.
69 words·~1 min read·
/us/cfr/t12/s§ 192.345·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(a)In general. A subscriber may purchase conversion shares with cash, by a withdrawal from a savings account, or a withdrawal from a certificate of deposit. If a subscriber purchases shares by a withdrawal from a certificate of deposit, the savings association may not assess a penalty for the withdrawal.
(b)Prohibition. A savings association may not extend credit to any person to purchase the savings association's conversion shares.