§ 192.395. Other conditions for community and public offerings.
84 words·~1 min read·
/us/cfr/t12/s§ 192.395·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
A savings association must offer and sell its stock to achieve a widespread distribution of the stock. If a savings association offers shares in a community offering, a public offering, or both, it must first fill orders for its stock up to a maximum of two percent of the conversion stock on a basis that will promote a widespread distribution of stock. The savings association must allocate any remaining shares on an equal number of shares per order basis until it fills all orders.