Conn. Agencies Regs. § 36a-136-43

Current through December 27, 2024

Section 36a-136-43 - Other requirements after conversion

After the conversion, the converted institution shall:

(a) Promptly register its shares under the Securities Exchange Act of 1934, 15 USC 78a et seq., and shall not deregister the shares for three years.

(b) Encourage and assist a market maker to establish and to maintain a market for the shares. A market maker for a security is a dealer who:

(1) Regularly publishes bona fide competitive bid and offer quotations for the security in a recognized inter-dealer quotation system;

(2) Furnishes bona fide competitive bid and offer quotations for the security on request; or

(3) May effect transactions for the security in reasonable quantities at quoted prices with other brokers or dealers.

(c) Use its best efforts to list its shares on a national or regional securities exchange or on the National Association of Securities Dealers Automated Quotation system.

(d) File all post-conversion reports that the commissioner requires.

Conn. Agencies Regs. § 36a-136-43

Adopted effective September 7, 2007