12 C.F.R. § 192.530

Current through October 31, 2024
Section 192.530 - Other post-conversion requirements

After 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.

12 C.F.R. §192.530

85 FR 42643 , 8/13/2020