Illinois Plan of Conversion from state stock savings bank to federal stock savings bank

State:
Multi-State
Control #:
US-CC-8-218
Format:
Word; 
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This sample form, a detailed Plan of Conversion From State Stock Savings Bank to Federal Stock Savings Bank document, is a model for use in corporate matters. The language is easily adapted to fit your specific circumstances. Available in several standard formats.
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FAQ

Bank Conversion means conversion of the Bank to the New Bank.

Mutual banks are owned by their borrowers and depositors. Ownership and profit sharing are what differentiate mutual banks from stock banks, which are owned and controlled by individual and institutional shareholders that profit from them.

A feature some funds offer that allows investors to automatically switch from one fund class to another, typically one with lower annual expenses, after a set period of time. The fund's prospectus or profile will state whether the fund has a conversion feature.

The Demutualization Process In a demutualization, a mutual company elects to change its corporate structure to a public company, where prior members may receive a structured compensation or ownership conversion rights in the transition, in the form of shares in the company.

Mutual to stock conversions are highly complex corporate reorganizations where a company which is ?owned? by its depositors (if it is a financial institution such as a savings bank) or by its members or policyholders (if it is a mutual insurer) changes its form of organization to one where the mutual members' rights ...

Key Takeaways A conversion is the exchange of a convertible type of asset into another type of asset?usually at a predetermined price?on or before a predetermined date. The conversion feature is a financial derivative instrument that is valued separately from the underlying security.

Mutual banks are owned by their borrowers and depositors. Ownership and profit sharing are what differentiate mutual banks from stock banks, which are owned and controlled by individual and institutional shareholders that profit from them.

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Illinois Plan of Conversion from state stock savings bank to federal stock savings bank