The Division Director: Shall review an application for conversion to a capital stock association; Shall determine: Whether the plan is fair to the members of the converting association and the general public; That insurance of the savings accounts will remain in effect after the conversion; That, after conversion, the association will be in sound financial condition and will be soundly managed; That conversion will not impair the capital of the association nor adversely affect the association’s operations; and That no person will receive any inequitable gain or advantage by reason of the conversion; and May require any changes that are necessary to ensure full disclosure of all material facts.