StacksVerified U.S. regulatory reference

12 CFR §192.520

Verified against eCFR.gov as of June 20, 2026View official text on eCFR.gov ↗
A savings association may declare or pay a dividend on its shares after the conversion if:
  1. (a)The dividend will not reduce the savings association's regulatory capital below the amount required for the liquidation account under § 192.450;
  2. (b)The savings association complies with all capital requirements under 12 CFR part 3 after it declares or pays dividends;
  3. (c)The savings association complies with the capital distribution requirements under 12 CFR 5.55; and
  4. (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.