Mutual to Stock Conversions - Savings and Loan Associations

The conversion of a state-chartered institution from the mutual form of ownership to a stock form requires the prior approval of the OFI. While no OFI application is required, the institution must file OTS Form AC with OFI, as well as pay a $1,500 filing fee. Should you have any specific questions on OFI requirements, please contact Deputy Chief Examiner Tim Robichaux at (225) 925-4660.

Attached is a copy of an internal check list which may benefit you in planning for a conversion.

• Savings & Loan Mutual-to-Stock Checklist

• Savings & Loan Mutual-to-Stock Rule (at LA Register)

Mutual to Stock Conversions - Savings Banks

The conversion of a state-chartered institution from the mutual form of ownership to a stock form requires the prior approval of the OFI. Attached is a copy of the application which must be completed in order to effect a conversion. Additionally, a $1,500 filing fee must be submitted at that time. Should you have any specific questions on OFI requirements, please contact Deputy Chief Examiner Tim Robichaux at (225) 925-4660.

Also attached is a copy of an internal check list which may benefit you in planning for a conversion.

• Mutual-to-Stock Rule - Savings Banks (at LA Register)

• Savings Bank Checklist

• Instructions for Savings Bank Conversion Application

• Application to Convert a Mutual Savings Bank