Conversion of a Savings Association from the Mutual to the Stock Form of Ownership: Current Legal Process

RS22457 -- Conversion of a Savings Association from the Mutual to the Stock Form of Ownership: Current Legal Process

June 14, 2006

Summary

A savings association is permitted by statute to convert from the mutual to the stock form of ownership. Regulations issued by the Director of the Office of Thrift Supervision provide the procedures by which a conversion may occur. This report summarizes major portions of these regulations. This report will be updated as warranted.