Prior to implementation of a plan of conversion adopted by a mutual company, no person shall knowingly acquire, or make any offer, or make any announcement of an offer, for any security issued, or to be issued, by the mutual company in connection with its plan of conversion, or for any security issued by any other company authorized as an alternative for purposes of effecting the conversion pursuant to § 31-906(e), except in compliance with the maximum purchase limitations imposed by § 31-906(l) or the terms of the plan of conversion as approved by the Commissioner.
(May 24, 1996, D.C. Law 11-126, § 6a, 43 DCR 1551; as added July 17, 1999, D.C. Law 13-13, § 2(a), 46 DCR 4428.)
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