---
kind: "section"
citation: "12 C.F.R. § 192.520"
title: "12"
number: "192.520"
heading: "Declaring and paying dividends after the conversion."
url: "https://uscodex.org/cfr/12/192.520"
---

# §192.520. Declaring and paying dividends after the conversion.


A savings association may declare or pay a dividend on its shares after the conversion if:

- (a) The dividend will not reduce the savings association's regulatory capital below the amount required for the liquidation account under [§ 192.450](/cfr/12/192.450.md);
- (b) The savings association complies with all capital requirements under [12 CFR part 3](/cfr/12/part3.md) after it declares or pays dividends;
- (c) The savings association complies with the capital distribution requirements under [12 CFR 5.55](/cfr/12/5.55.md); and
- (d) The savings association does not return any capital, other than ordinary dividends, to purchasers during the term of the business plan submitted with the conversion.

## 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.