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Code · CFR · Title 12 — Banks and Banking · Part 192 — Conversions from Mutual to Stock Form · § 192.125

§ 192.125. Adoption of plan of conversion by board of directors.

62 words·~1 min read·/us/cfr/t12/s§ 192.125·

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

Prior to filing an application for conversion, a savings association's board of directors must adopt a plan of conversion that conforms to §§ 192.320 through 192.485 and 192.505. The savings association's board of directors must adopt the plan by at least a two-thirds vote. Pursuant to § 192.150, the savings association must include the plan of conversion in the application for conversion.
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