Section 36a-136-22 - Payment for conversion shares by subscribers(a) A subscriber may purchase conversion shares with cash, by a withdrawal from a savings account or a withdrawal from a certificate of deposit. If a subscriber purchases shares by a withdrawal from a certificate of deposit, the converting institution shall not assess a penalty for the withdrawal.(b) The converting institution shall not extend credit to any person to purchase the conversion shares.Conn. Agencies Regs. § 36a-136-22
Adopted effective September 7, 2007