---
kind: "section"
citation: "12 C.F.R. § 192.325"
title: "12"
number: "192.325"
heading: "Timing of offer to sell conversion shares."
url: "https://uscodex.org/cfr/12/192.325"
---

# §192.325. Timing of offer to sell conversion shares.

- (a) **In general.** A savings association may offer to sell its conversion shares after the appropriate Federal banking agency approves the conversion, clears the proxy statement, and declares the offering circular effective.
- (b) **Timing.** The offer may commence at the same time the savings association starts the proxy solicitation of its members.

## Notes

### Authority

Authority: 12 U.S.C. 1462a, 1463, 1464, 1467a, 2901 et seq., 5412(b)(2)(B); 15 U.S.C. 78c, 78 l , 78m, 78n, 78w.

### Source

Source: 85 FR 42643, July 14, 2020, unless otherwise noted.