209 CMR, § 33.36
Current through Register 1536, December 6, 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.
209 CMR, § 33.36