November 2020

Licensing Manual: Mutual to Stock Conversions

Summary

This booklet of the Comptroller's Licensing Manual supports the Office of the Comptroller of the Currency's supervisory activity with respect to the review and decision of applications submitted by a federal savings association (FSA) to convert from a mutual FSA to the stock form FSA under 12 CFR 192. Because a national bank cannot be in the mutual form of ownership, this booklet does not apply to national banks.