Code of Massachusetts Regulations
209 CMR - DIVISION OF BANKS AND LOAN AGENCIES
Title 209 CMR 33.00 - Conversion By Co-operative Banks And Savings Banks From Mutual To Stock Form
Section 33.13 - Scope
Universal Citation: 209 MA Code of Regs 209.33
Current through Register 1531, September 27, 2024
The provisions of 209 CMR 33.13 through 33.20 (SUPERVISORY STOCK CONVERSIONS) shall govern the supervisory conversion of a savings bank or a co-operative bank to a stock form of organization. A supervisory stock conversion is a conversion authorized by the commissioner pursuant to a plan of conversion adopted by a savings bank or a co-operative bank which meets the requirements set forth in 209 CMR 33.16. The authorization of a supervisory stock conversion shall be in the discretion of the commissioner acting in accordance with provisions of 209 CMR 33.00.
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