Capital distributions by Federal savings associations.

CFR · 2024-01-01 · US · Title 12

(a) (b) (c) (d) (1) (2) (i) A distribution of cash or other property to owners of a Federal savings association made on account of their ownership, but excludes: (A) Any dividend consisting only of the shares of the savings association or rights to purchase the shares; or (B) If the savings association is a Federal mutual savings association, any payment that the savings association is required to make under the terms of a deposit instrument and any other amount paid on deposits that the OCC determines is not a distribution for the purposes of this section; (ii) A Federal savings association's payment to repurchase, redeem, retire or otherwise acquire any of its shares or other ownership interests; any payment to repurchase, redeem, retire, or otherwise acquire debt instruments included in its total capital under 12 CFR part 3; and any extension of credit to finance an affiliate's acquisition of the savings association's shares or interests; (iii) Any direct or indirect payment of cash or other property to owners or affiliates made in connection with a corporate restructuring. This includes the Federal savings association's payment of cash or property to shareholders of another association or to shareholders of its holding company to acquire ownership in that association, other than by a distribution of shares; (iv) Any other distribution charged against a Federal savings association's capital accounts if the savings association would not be well capitalized, as set forth in

official document · source cfr-2024 · id 12:§ 5.55