§ 192.320. Order of priority to purchase conversion shares.
51 words·~1 min read·
/us/cfr/t12/s§ 192.320·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
A savings association must offer to sell its shares in the following order:
(a)Eligible account holders.
(b)Tax-qualified employee stock ownership plans.
(c)Supplemental eligible account holders.
(d)Other voting members who have subscription rights.
(e)The savings association's community, its community and the general public, or the general public.