Adoption of plan of conversion by board of directors.

CFR · 2024-01-01 · US · Title 12

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.

official document · source cfr-2024 · id 12:§ 192.125