N.Y. Comp. Codes R. & Regs. Tit. 3 § 86.9 - Formation of a holding company in connection with the conversion of a mutual institution to stock form

The board of trustees or directors, as the case may be, of a thrift seeking to convert to stock form may cause a company to be formed to acquire all the stock of such converting institution. In such case, the converting institution shall file with its application for conversion detailed information as to the formation of such holding company (including specific details as to the rights of depositors or shareholders of such mutual institution to subscribe for stock of such holding company) as well as the proxy statement or short-form proxy statement complying with the provisions of section 86.14 of this Part. In addition, the thrift institution shall, as a condition of the superintendent's approval of the institution's conversion from mutual to stock form, file with the superintendent a copy of (a) any prospectus of such holding company as it shall be required to prepare under applicable State and Federal securities laws, and (b) any application for approval to become a bank holding company or savings and loan holding company as it shall be required to file under applicable Federal law. Unless clearly inapplicable, all of the requirements of this Part shall apply to a conversion under this section.


N.Y. Comp. Codes R. & Regs. Tit. 3 § 86.9

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