§ 192.520. Declaring and paying dividends after the conversion.
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/us/cfr/t12/s§ 192.520·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
A savings association may declare or pay a dividend on its shares after the conversion if:
(a)The dividend will not reduce the savings association's regulatory capital below the amount required for the liquidation account under § 192.450;
(b)The savings association complies with all capital requirements under 12 CFR part 3 after it declares or pays dividends;
(c)The savings association complies with the capital distribution requirements under 12 CFR 5.55; and
(d)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.
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- 12 CFR 3
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