(a) In general. A savings association must comply with this subpart and part 16 to engage in a voluntary supervisory conversion. This subpart applies to all voluntary supervisory conversions under sections 5(i)(1), (i)(2), and (p) of HOLA, 12 U.S.C. 1464(i)(1), (i)(2), and (p).

(b) Application of subpart A. Subpart A of this part also applies to a voluntary supervisory conversion, unless a requirement is clearly inapplicable.