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 33.36 - Contents of Plan of Conversion and Stock Issuance Plans

Universal Citation: 209 MA Code of Regs 209.33
Current through Register 1531, September 27, 2024

All the provisions of 209 CMR 33.28(1) and 209 CMR 33.05, shall apply to mutual holding company conversions to stock form, unless inapplicable or inappropriate, as determined by the Commissioner. For these purposes the term "subsidiary banking institution" as it appears in 209 CMR 33.28(1), and the term "converted or converting bank" as it appears in 209 CMR 33.05, shall be deemed to refer to the converting mutual holding company, unless the context requires otherwise. The independent valuation required pursuant to 209 CMR 33.28(1) shall account for the value of dividends waived under 209 CMR 33.30(5) and shall include all assets held by the mutual holding company and its subsidiaries.

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