Current through October 31, 2024
Section 192.530 - Other post-conversion requirementsAfter a savings association converts, it must:
(a) Promptly register its shares under the Securities Exchange Act of 1934 (15 U.S.C. 78a-78jj , as amended). The savings association may not deregister the shares for three years.(b) Encourage and assist a market maker to establish and to maintain a market for its shares. A market maker for a security is a dealer who:(1) Regularly publishes bona fide competitive bid and offer quotations for the security in a recognized inter-dealer quotation system;(2) Furnishes bona fide competitive bid and offer quotations for the security on request; or(3) May effect transactions for the security in reasonable quantities at quoted prices with other brokers or dealers.(c) Use its best efforts to list its shares on a national or regional securities exchange or on the National Association of Securities Dealers Automated Quotation system.(d) File all post-conversion reports that the appropriate Federal banking agency requires.