CFR > Title 12 - Banks and Banking > CHAPTER V—OFFICE OF THRIFT SUPERVISION, DEPARTMENT OF THE TREASURY > PART 563b—CONVERSIONS FROM MUTUAL TO STOCK FORM > SUBPART A—Standard Conversions (§563b.100 to §563b.575) > 563b.550—May I donate conversion shares or conversion proceeds to a charitable organization?

563b.550—May I donate conversion shares or conversion proceeds to a charitable organization?

You may contribute some of your conversion shares or proceeds to a charitable organization if:
(a) Your plan of conversion provides for the proposed contribution;
(b) Your members approve the proposed contribution; and
(c) The IRS either has approved, or approves within two years after formation, the charitable organization as a tax-exempt charitable organization under the Internal Revenue Code.