12 CFR 563b.355 - What subscription rights must I give to each eligible account holder and each supplemental eligible account holder?

§ 563b.355 What subscription rights must I give to each eligible account holder and each supplemental eligible account holder?
(a) You must give each eligible account holder subscription rights to purchase conversion shares in an amount equal to the greater of:
(1) The maximum purchase limitation established for the community offering or the public offering under § 563b.395;
(2) One-tenth of one percent of the total stock offering; or
(3) Fifteen times the following number: The total number of conversion shares that you will issue, multiplied by the following fraction. The numerator is the total qualifying deposit of the eligible account holder. The denominator is the total qualifying deposits of all eligible account holders. You must round down the product of this multiplied fraction to the next whole number.
(b) You must give subscription rights to purchase shares to each supplemental eligible account holder in the same amount as described in paragraph (a) of this section, except that you must compute the fraction described in paragraph (a)(3) of this section as follows: The numerator is the total qualifying deposit of the supplemental eligible account holder. The denominator is the total qualifying deposits of all supplemental eligible account holders.

Title 12 published on 2014-01-01

no entries appear in the Federal Register after this date.

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