12 CFR 563b.370 - Does OTS limit the aggregate purchases by officers, directors, and their associates?
(a) When you convert, your officers, directors, and their associates may not purchase, in the aggregate, more than the following percentage of your total stock offering:
|Institution size||Officer and director purchases (percent)|
|$50,000,000 or less||35|
(b) The purchase limitations in this section do not apply to shares held in tax-qualified employee stock benefit plans that are attributable to your officers, directors, and their associates.