(a) You must mail the member's cleared proxy solicitation material if:
(1) Your board of directors adopted a plan of conversion;
(2) A member requests in writing that you mail the proxy solicitation material;
(3) The appropriate Federal banking agency has cleared the member's proxy solicitation; and
(4) The member agrees to defray your reasonable expenses.
(b) As soon as practicable after you receive a request under paragraph (a) of this section, you must mail or otherwise furnish the following information to the member:
(1) The approximate number of members that you solicited or will solicit, or the approximate number of members of any group of account holders that the member designates; and
(2) The estimated cost of mailing the proxy solicitation material for the member.
(c) You must mail cleared proxy solicitation material to the designated members promptly after the member furnishes the materials, envelopes (or other containers), and postage (or payment for postage) to you.
(d) You are not responsible for the content of a member's proxy solicitation material.
(e) A member may furnish other members its own proxy solicitation material, cleared by the appropriate Federal banking agency, subject to the rules in this section.