§ 412. Conversion of federal savings institutions to state charter.
The superintendent is authorized to promulgate such regulations as are
necessary to permit the conversion of any federal savings association or
federal savings and loan association to state charter where such
conversion is not otherwise governed by the provisions of this chapter.
Subject to the foregoing, such regulations may provide for the
conversion of a federal savings association or federal savings and loan
association, whether in mutual or stock form, into a state-chartered
savings bank or state-chartered savings and loan association. The
federal savings association shall submit a written plan of conversion to
the superintendent, together with an investigation fee as prescribed
pursuant to section eighteen-a of this chapter.