StacksVerified U.S. regulatory reference

12 CFR §192.550

Verified against eCFR.gov as of June 20, 2026View official text on eCFR.gov ↗
A savings association may contribute some of its conversion shares or proceeds to a charitable organization if:
  1. (a)The savings association's plan of conversion provides for the proposed contribution;
  2. (b)The savings association's members approve the proposed contribution; and
  3. (c)The IRS either has approved, or approves within two years after formation, the charitable organization as a tax-exempt charitable organization under the Internal Revenue Code.