Federally insured financial institution definition

Federally insured financial institution means a state or nationally chartered bank or a state or federally chartered savings and loan association, savings bank, or credit union whose deposits are insured by an agency of the United States government.
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Federally insured financial institution means a savings bank, savings and loan association, or credit union, whether state or federally chartered, or a federally insured bank, authorized to conduct business in this state.
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Federally insured financial institution means an institution in which monetary deposits are insured by the Federal Deposit Insurance Corporation or National Credit Union Administration.
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Examples of Federally insured financial institution in a sentence

  • Policies and control procedures are sufficient to safeguard against error, carelessness, conflict of interest, self-dealing and fraud.As a Federally insured financial institution, Medina County Federal Credit Union falls under the authority of the National Credit Union Administration (NCUA), an agency of the Federal government.

  • In lieu of a bond, (a) a letter of credit, drawn on a Federally insured financial institution, payable to the City, (b) cash, (c) certificates of deposit conditionally assisgned to the City made by a Federally insured financial institution or (d) a combination of these items, in that total amount, may be delivered to the City.

  • The Lessee agrees to obtain and deliver to the District Engineer, within thirty (30) days, either a valid surety bond issued by a surety corporation licensed by a state regulatory entity, a performance deposit, or an irrevocable letter of credit issued by a Federally insured financial institution in a form satisfactory to the District Engineer.

  • DEPOSIT OF CONTRIBUTIONS.-- Each contribution in the control or custody of the professional solicitor shall in its entirety and within five days of its receipt be deposited, maintained and administered in an account at a bank or other Federally insured financial institution which shall be in the name of the charitable organization and over which that charitable organization shall have sole control of all withdrawals.

  • The prime contractor establishes an escrow account in a Federally insured financial institution and enters into a tripartite escrow agreement with the financial institution, as escrow agent, and all of the suppliers of labor and material.

  • A written commitment by a Federally insured financial institution to pay all or part of a stated amount of money, until the expiration date of the letter, upon presentation by the Government (the beneficiary) of a written demand therefor.

  • Registration does not imply endorsement.* * *(h) Deposit of contributions.--Each contribution in the control or custody of the professional solicitor shall in its entirety and within five days of its receipt be deposited, maintained and administered in an account at a bank or other Federally insured financial institution which shall be in the name of the charitable organization and over which that charitable organization shall have sole control of all withdrawals.

  • The IAP has violated or conspired to violate sections 215, 656, 657, 1005, 1006, 1007, 1014, 1032, or 1344 of title 18 of the United States Code, or sections 1341 or 1343 of that title affecting a Federally insured financial institution, as defined in title 18 of the United States Code.

  • In lieu of a bond, (a) a letter of credit, drawn on a Federally insured financial institution, payable to the City, (b) cash, (c) certificates of deposit conditionally assigned to the City made by a Federally insured financial institution or (d) a combination of these items, in that total amount, may be delivered to the City.

  • The rent must be deposited in a Federally insured financial institution or with a bonded independent agent.


More Definitions of Federally insured financial institution

Federally insured financial institution means a financial institution that has its deposits insured by an instrumentality of the federal government, including the Federal Deposit Insurance Corpora- tion (FDIC), Federal Savings and Loan Insurance Corporation (FSLIC) and National Credit Union Administration (NCUA).
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Federally insured financial institution means a state or nationally chartered bank or a state or federally chartered savings and loan association, savings bank, or credit union whose deposits are insured by an agency of the United States government and which maintains a principal office or branch office located in this state under the laws of this state or the United States.
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Related to Federally insured financial institution

  • Affected Financial Institution means (a) any EEA Financial Institution or (b) any UK Financial Institution.

  • EEA Financial Institution means (a) any credit institution or investment firm established in any EEA Member Country which is subject to the supervision of an EEA Resolution Authority, (b) any entity established in an EEA Member Country which is a parent of an institution described in clause (a) of this definition, or (c) any financial institution established in an EEA Member Country which is a subsidiary of an institution described in clauses (a) or (b) of this definition and is subject to consolidated supervision with its parent.

  • UK Financial Institution means any BRRD Undertaking (as such term is defined under the PRA Rulebook (as amended from time to time) promulgated by the United Kingdom Prudential Regulation Authority) or any person falling within IFPRU 11.6 of the FCA Handbook (as amended from time to time) promulgated by the United Kingdom Financial Conduct Authority, which includes certain credit institutions and investment firms, and certain affiliates of such credit institutions or investment firms.

  • UK Financial Institutions means any BRRD Undertaking (as such term is defined under the PRA Rulebook (as amended from time to time) promulgated by the United Kingdom Prudential Regulation Authority) or any person falling within IFPRU 11.6 of the FCA Handbook (as amended from time to time) promulgated by the United Kingdom Financial Conduct Authority, which includes certain credit institutions and investment firms, and certain affiliates of such credit institutions or investment firms.

  • Financial institution means a Custodial Institution, a Depository Institution, an Investment Entity, or a Specified Insurance Company.

  • Qualified United States financial institution means an institution that:

  • Educational institution means a preschool, a public or private elemen- tary or secondary school, an institu- tion of undergraduate higher edu- cation, an institution of graduate high- er education, an institution of profes- sional education, or an institution of vocational education, that operates a program of scholarly research. To be in this category, a requester must show that the request is authorized by, and is made under the auspices of, a quali- fying institution and that the records are not sought for a commercial use but are sought to further scholarly re- search.