Sec. 111.7. Subsequent offerings

(a) Any subsequent offering shall be made pursuant to an offering circular in the form prescribed in section 86.15 of this Title that has been approved by the superintendent, whether the offering consists of newly issued shares being offered by the stock savings bank or previously issued shares being sold by the mutual holding company.

(b) The procedures to be followed in conducting a subsequent offering may, with the approval of the superintendent, differ from those set out in section 86.5 of this Title so long as eligible account holders' subscription rights are not abrogated. Such differences may include, but need not be limited to, the distribution of offering circulars only to those eligible account holders who have requested them and combining a subscription offering with a public offering.