12 CFR 563b.605 - How may I conduct a voluntary supervisory conversion?
(a) You may sell your shares or the shares of a holding company to the public under the requirements of subpart A of this part.
(b) You may convert to stock form by merging into an interim federal-or state-chartered stock association.
(c) You may sell your shares directly to an acquiror, who may be a person, company, depository institution, or depository institution holding company.
(d) You may merge or consolidate with an existing or newly created depository institution. The merger or consolidation must be authorized by, and is subject to, other applicable laws and regulations.