12 CFR § 192.370 - Limits on aggregate purchases by officers, directors, and associates.

---
identifier: "/us/cfr/t12/s192.370"
source: "ecfr"
legal_status: "authoritative_unofficial"
title: "12 CFR § 192.370 - Limits on aggregate purchases by officers, directors, and associates."
title_number: 12
title_name: "Banks and Banking"
section_number: "192.370"
section_name: "Limits on aggregate purchases by officers, directors, and associates."
chapter_name: "COMPTROLLER OF THE CURRENCY, DEPARTMENT OF THE TREASURY"
part_number: "192"
part_name: "CONVERSIONS FROM MUTUAL TO STOCK FORM"
positive_law: false
currency: "2026-04-05"
last_updated: "2026-04-05"
format_version: "1.1.0"
generator: "[email protected]"
authority: "12 U.S.C. 1462a, 1463, 1464, 1467a, 2901  5412(b)(2)(B); 15 U.S.C. 78c, 78, 78m, 78n, 78w."
regulatory_source: "85 FR 42643, July 14, 2020, unless otherwise noted."
cfr_part: "192"
---


# 192.370 Limits on aggregate purchases by officers, directors, and associates.

(a) *In general.* When a savings association converts, its officers, directors, and their associates may not purchase, in the aggregate, more than the following percentage of the savings association's total stock offering:

Table 1 to § 192.370(**a**)

| Institution size | Officer anddirectorpurchases(percent) |
| --- | --- |
| $50,000,000 or less | 35 |
| $50,000,001-100,000,000 | 34 |
| $100,000,001-150,000,000 | 33 |
| $150,000,001-200,000,000 | 32 |
| $200,000,001-250,000,000 | 31 |
| $250,000,001-300,000,000 | 30 |
| $300,000,001-350,000,000 | 29 |
| $350,000,001-400,000,000 | 28 |
| $400,000,001-450,000,000 | 27 |
| $450,000,001-500,000,000 | 26 |
| Over $500,000,000 | 25 |

(b) *Exception.* The purchase limitations in this section do not apply to shares held in tax-qualified employee stock benefit plans that are attributable to the savings association's officers, directors, and their associates.