12 CFR § 192.550 - Donating conversion shares or conversion proceeds to a charitable organization.

---
identifier: "/us/cfr/t12/s192.550"
source: "ecfr"
legal_status: "authoritative_unofficial"
title: "12 CFR § 192.550 - Donating conversion shares or conversion proceeds to a charitable organization."
title_number: 12
title_name: "Banks and Banking"
section_number: "192.550"
section_name: "Donating conversion shares or conversion proceeds to a charitable organization."
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"
---


# 192.550 Donating conversion shares or conversion proceeds to a charitable organization.

A savings association may contribute some of its conversion shares or proceeds to a charitable organization if:

(a) The savings association's plan of conversion provides for the proposed contribution;

(b) The savings association's members approve the proposed contribution; and

(c) The IRS either has approved, or approves within two years after formation, the charitable organization as a tax-exempt charitable organization under the Internal Revenue Code.