(a) The conversion neither impair the capital of the converting savings bank nor adversely affect its operations;
(b) The conversion shall be fair and equitable to all stockholders of the converting savings bank;
(c) The public shall not be adversely affected by the conversion;
(d) Conversion of a savings bank shall be accomplished only pursuant to a plan approved by the commissioner. Such plan must have been approved by an affirmative vote of two-thirds (⅔) of the members of the board of directors of the converting savings bank, after a full and fair disclosure to the stockholders, and by an affirmative vote of a majority of the votes which stockholders of the savings bank are entitled to cast;
(e) The plan of conversion provides that:
(i) Deposit accounts will be issued in connection with the conversion to the stockholders of the converting savings bank;
(ii) A uniform date will be fixed for the determination of the stockholders to whom, and the amount to each stockholder of which, deposit accounts shall be made available;
(iii) Deposit accounts made available to stockholders will be based upon a fair and equitable formula approved by the commissioner and fully and fairly disclosed to the stockholders of the converting savings bank.
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