eligible borrower stock
(2) Eligible borrower stock The term “eligible borrower stock” means borrower stock that— (A) is outstanding on January 6, 1988 ; (B) is issued or allocated after January 6, 1988 , but prior to the earlier of— (i) in the case of each bank and association, the date of approval, by the stockholders of such bank or association, of the capitalization requirements of the institution in accordance with section 2154a of this title ; or (ii) the date that is 9 months after January 6, 1988 ; (C) was, after January 1, 1983 , but before January 6, 1988 , frozen by an institution that was placed in liquidation; or (D) was retired at less than par value by an institution that was placed in liquidation after January 1, 1983 , but before January 6, 1988 .