La. Admin. Code tit. 10 § V-511
Current through Register Vol. 50, No. 11, November 20, 2024
Section V-511 - Standard for Approval of ApplicationA. The commissioner will not approve a plan of conversion unless he finds that the plan is fair and equitable to the members of the applicant, that the interests of the applicant's savings account holders and the public are adequately protected, and that the plan conforms to regulatory requirements of the FSLIC. In approving an applicant's plan of conversion, the commissioner will also give preliminary approval by the applicant's proposed amended articles of incorporation and by-laws.La. Admin. Code tit. 10, § V-511
Promulgated by the Department of Commerce, Office of Financial Institutions, LR 6:714 (December 1980).AUTHORITY NOTE: Promulgated in accordance with R.S. 6:939.