Common use of Prior to Conversion Clause in Contracts

Prior to Conversion. (a) Pre-filing meeting and consultation. (1) The mutual holding company’s board, or a subcommittee of the board, may meet with the staff of the appro- priate Reserve Bank or Board staff be- fore the mutual holding company’s board of directors votes on the plan of conversion. At that meeting the mu- tual holding company may provide the Reserve Bank or Board staff with a written strategic plan that outlines the objectives of the proposed conversion and the intended use of the conversion proceeds. (2) The mutual holding company should also consult with the Board or appropriate Reserve Bank before it files its application for conversion. The Reserve Bank or Board will discuss the information that the mutual holding

Prior to Conversion. (a) Pre-filing meeting and consultation. (1) The mutual holding company’s board, or a subcommittee of the board, may meet with the staff of the appro- priate Reserve Bank or Board staff be- fore the mutual holding company’s board of directors votes on the plan of conversion. At that meeting the mu- tual holding company may provide the Reserve Bank or Board staff with a written strategic plan that outlines the objectives of the proposed conversion and the intended use of the conversion proceeds. (2) The mutual holding company should also consult with the Board or appropriate Reserve Bank before it files its application for conversion. The Reserve Bank or Board will discuss the information that the mutual holdingholding company must include in the applica- tion for conversion, general issues that the mutual holding company may con- front in the conversion process, and any other pertinent issues.