12 CFR 563b.365 - May other voting members purchase conversion shares in the conversion?
(a) You must give rights to purchase your conversion shares in the conversion to voting members who are neither eligible account holders nor supplemental eligible account holders. You must allocate rights to each voting member that are equal to the greater of:
(1) The maximum purchase limitation established for the community offering and the public offering under § 563b.395; or
(2) One-tenth of one percent of the total stock offering.