Code of Federal Regulations (alpha)

CFR /  Title 12  /  Part 192  /  Sec. 192.125 Must my board of directors adopt a plan of conversion?

Prior to filing an application for conversion, your board of directors must adopt a plan of conversion that conforms to Secs. 192.320 through 192.485 and 192.505. Your board of directors must adopt the plan by at least a two-thirds vote. Your plan of conversion is required, under Sec. 192.150, to be included in your conversion application.