La. Admin. Code tit. 10 § VII-521

Current through Register Vol. 50, No. 11, November 20, 2024

Section VII-521 - Conversion or Liquidation of Mutual Holding Companies

A. Conversion. A mutual holding company may convert from mutual to stock form in accordance with a plan of conversion approved by the commissioner pursuant to the procedures for conversion of a mutual savings bank under the conversion rule.

B. Voluntary Liquidation. The provisions of R.S. 6:1282 shall apply to a mutual holding company in the same manner as they apply to a savings bank.

La. Admin. Code tit. 10, § VII-521

Promulgated by the Department of Economic Development, Office of Financial Institutions, LR 21:1078 (October 1995).

AUTHORITY NOTE: Promulgated in accordance with R.S. 6:1141.