563b.520—May I declare or pay dividends after I convert?
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 § 563b.450 ;
(b)
You comply with all capital requirements under part 567 of this chapter after you declare or pay dividends;
(c)
You comply with the capital distribution requirements under part 563, 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.