12 CFR § 192.370
Limits on aggregate purchases by officers, directors, and associates
November 10, 2020
(a) In general. When a savings association converts, its officers, directors, and their associates may not purchase, in the aggregate, more than the following percentage of the savings association's total stock offering:
Table 1 to §192.370(a)
Open Table
| Institution size | Officer and director purchases (percent) |
|---|---|
| $50,000,000 or less | 35 |
| $50,000,001-100,000,000 | 34 |
| $100,000,001-150,000,000 | 33 |
| $150,000,001-200,000,000 | 32 |
| $200,000,001-250,000,000 | 31 |
| $250,000,001-300,000,000 | 30 |
| $300,000,001-350,000,000 | 29 |
| $350,000,001-400,000,000 | 28 |
| $400,000,001-450,000,000 | 27 |
| $450,000,001-500,000,000 | 26 |
| Over $500,000,000 | 25 |
(b) Exception. The purchase limitations in this section do not apply to shares held in tax-qualified employee stock benefit plans that are attributable to the savings association's officers, directors, and their associates.
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