Full text
No person, including a bank, shall distribute securities of a bank that is not a federal credit union except in accordance with the regulations made under subsection (2).
No person, including a bank, shall distribute securities of a bank that is not a federal credit union except in accordance with the regulations made under subsection (2).
No person, including a bank, shall distribute securities of a bank except in accordance with the regulations made under subsection (2).
A bank shall not distribute any of its securities and a person shall not distribute any securities of a bank unless a preliminary prospectus and a prospectus in a form substantially as prescribed have been filed with the Superintendent in relation to the distribution and receipts have been received therefor from the Superintendent.