§ 192.390. Community offering of conversion shares.
60 words·~1 min read·
/us/cfr/t12/s§ 192.390·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(a)Purchase preference in subscription offering. In a subscription offering, a savings association may give a purchase preference to eligible account holders, supplemental eligible account holders, and voting members residing in its local community.
(b)Purchase preference in community offering. In a community offering, a savings association must give a purchase preference to natural persons residing in its local community.