Communication between members of a mutual holding company.

CFR · 2024-01-01 · US · Title 12

(a) (b) (1) The member shall give the mutual holding company a written request to communicate; (2) If the proposed communication is in connection with a meeting of the mutual holding company's members, the request shall be given at least thirty days before the annual meeting or 10 days before a special meeting; (3) The request shall contain— (i) The member's full name and address; (ii) The nature and extent of the member's interest in the mutual holding company at the time the information is given; (iii) A copy of the proposed communication; and (iv) If the communication is in connection with a meeting of the members, the date of the meeting; (4) The mutual holding company shall reply to the request within either— (i) Fourteen days; (ii) Ten days, if the communication is in connection with the annual meeting; or (iii) Three days, if the communication is in connection with a special meeting; (5) The reply shall provide either— (i) The number of the mutual holding company's members and the estimated reasonable cost to the mutual holding company of mailing to them the proposed communication; or (ii) Notification that the mutual holding company has determined not to mail the communication because it is “improper”, as defined in paragraph (c) of this section; (6) After receiving the amount of the estimated costs of mailing and sufficient copies of the communication, the mutual holding company shall mail the communication to all members, by a class of mail specified by the requesti

official document · source cfr-2024 · id 12:§ 239.12