§ 192.370. Limits on aggregate purchases by officers, directors, and associates.
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/us/cfr/t12/s§ 192.370·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(a)In general. When a savings association converts, its officers, directors, and their associates may not purchase, in the aggregate, more than the following percentage of the savings association's total stock offering: Table 1 to § 192.370(a) Institution size Officer and director purchases (percent) $50,000,000 or less35 $50,000,001-100,000,00034 $100,000,001-150,000,00033 $150,000,001-200,000,00032 $200,000,001-250,000,00031 $250,000,001-300,000,00030 $300,000,001-350,000,00029 $350,000,001-400,000,00028 $400,000,001-450,000,00027 $450,000,001-500,000,00026 Over $500,000,00025
(b)Exception. The purchase limitations in this section do not apply to shares held in tax-qualified employee stock benefit plans that are attributable to the savings association's officers, directors, and their associates.