§ 192.625. Eligibility for a voluntary supervisory conversion.
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/us/cfr/t12/s§ 192.625·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(a)Eligibility. An insured savings association may be eligible to convert under this subpart B if:
(1)The savings association is significantly undercapitalized (or undercapitalized and a standard conversion that would make the savings association adequately capitalized is not feasible) and the savings association will be a viable entity following the conversion;
(2)Severe financial conditions threaten the savings association's stability and a conversion is likely to improve its financial condition;
(3)The FDIC will assist the savings association under section 13 of the Federal Deposit Insurance Act, 12 U.S.C. 1823; or
(4)The savings association is in receivership and a conversion will assist the savings association.
(b)Requirements for viability after conversion. The savings association will be a viable entity following the conversion if it satisfies all of the following:
(1)The savings association will be adequately capitalized as a result of the conversion;
(2)The savings association, its proposed conversion, and its acquiror(s) comply with applicable supervisory policies;
(3)The transaction is in the savings association's best interest, and the best interest of the Deposit Insurance Fund and the public; and
(4)The transaction will not injure or be detrimental to the savings association, the Deposit Insurance Fund, or the public interest.
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§ 192.625
Eligibility for a voluntary supervisory conversion.
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