Stock Benefit Plans in Mutual-to-Stock Conversions and Mutual Holding Company Structures
other · Treasury · Rule · Published 2007-06-27 · Effective 2007-10-01 · 72 FR 35145
Document
Document number
E7-12168
Federal Register citation
72 FR 35145
CFR reference
12 CFR 563
Type
Rule
Action
Final rule.
Category
other
Sub-agency
Treasury
Publication date
2007-06-27
Effective date
2007-10-01
Treasury docket
No. OTS-2007-0014
Abstract
The Office of Thrift Supervision (OTS) is clarifying its regulations regarding stock benefit plans established after mutual-to- stock conversions or in mutual holding company structures. In addition, OTS is modifying the voting requirements for the adoption of certain stock benefit plans in mutual holding company structures by providing that the plans must be approved by a majority of the minority shares voting on the plan. Also, OTS is making several minor changes to the regulations governing mutual-to-stock conversions and minority stock issuances.