---
kind: "section"
citation: "12 C.F.R. § 192.345"
title: "12"
number: "192.345"
heading: "Permissible forms of subscriber payment."
url: "https://uscodex.org/cfr/12/192.345"
---

# §192.345. Permissible forms of subscriber payment.

- (a) **In general.** A subscriber may purchase conversion shares with cash, by a withdrawal from a savings account, or a withdrawal from a certificate of deposit. If a subscriber purchases shares by a withdrawal from a certificate of deposit, the savings association may not assess a penalty for the withdrawal.
- (b) **Prohibition.** A savings association may not extend credit to any person to purchase the savings association's conversion shares.

## 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.