You may declare or pay a dividend on your shares after you convert if:
(a) The dividend will not reduce your regulatory capital below the amount required for your liquidation account under Sec. 192.450;
(b) You comply with all capital requirements under 12 CFR part 3 or part 167, as applicable after you declare or pay dividends;
(c) You comply with the capital distribution requirements under part 163, subpart E, of this chapter; and
(d) You do not return any capital, other than ordinary dividends, to purchasers during the term of the business plan submitted with the conversion. [76 FR 49156, Aug. 9, 2011, as amended at 79 FR 11317, Feb. 28, 2014]