§ 192.530. Other post-conversion requirements.

153 words·~1 min read·/us/cfr/t12/s§ 192.530·

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

After a savings association converts, it must:

(a)Promptly register its shares under the Securities Exchange Act of 1934 (15 U.S.C. 78a-78jj, as amended). The savings association may not deregister the shares for three years.

(b)Encourage and assist a market maker to establish and to maintain a market for its shares. A market maker for a security is a dealer who:

(1)Regularly publishes bona fide competitive bid and offer quotations for the security in a recognized inter-dealer quotation system;

(2)Furnishes bona fide competitive bid and offer quotations for the security on request; or

(3)May effect transactions for the security in reasonable quantities at quoted prices with other brokers or dealers.

(c)Use its best efforts to list its shares on a national or regional securities exchange or on the National Association of Securities Dealers Automated Quotation system.

(d)File all post-conversion reports that the appropriate Federal banking agency requires.

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Cited by 2 sections

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15 USC 78a-78jj

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§ 192.530