Federally insured financial institution definition

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 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 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.

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

  • 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.

  • 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.

  • 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.


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

  • Licensed financial institution means a financial institution issued a license under this act.

  • Designated Financial Institution shall have the meaning specified in Section 14.12(a).

  • regulated financial institution means a state or nationally chartered bank, savings and loan association or savings bank, credit union, trust company, or other state or federally chartered lending institution or a regulated affiliate or regulated subsidiary of any of these entities.

  • Approved Financial Institution means any bank approved by Exchange in accordance with its credit review procedures or policies;

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

  • Reporting Financial Institution means a Reporting Finnish Financial Institution or a Reporting U.S. Financial Institution, as the context requires.

  • Qualified Financial Institution means, at any time, a financial institution organized under the laws of any jurisdiction in the United States of America or Europe that at such time has outstanding debt obligations with a stated maturity of one year or less from the date of issue and rated A-1 or higher by Standard & Poor’s, a division of The McGraw Hill Companies, Inc., Ratings Group (or any successor) or P-1 or higher by Moody’s Investors Service, Inc. (or any successor) or, in either case, such other comparable rating, if any, then used by such rating agency.

  • 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.

  • foreign financial institution means an institution registered as a foreign financial institution with the Ministry of Finance in the Mexican Banking and Financial Institutions, Pensions, Retirement and Foreign Investment Funds Registry for purposes of Article 195, Section I of the Mexican Income Tax Law.

  • Participating Financial Institution means a financial institution participating in EMT Services and/or Online Payment Services, as the case may be.

  • UK Financial Institution means any BRRD Undertaking (as such term is defined under the PRA Rulebook (as amended form 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.

  • Specified Insurance Company means any Entity that is an insurance company (or the holding company of an insurance company) that issues, or is obligated to make payments with respect to, a Cash Value Insurance Contract or an Annuity Contract.

  • 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.

  • Nonparticipating Financial Institution means a nonparticipating FFI, as that term is defined in relevant U.S. Treasury Regulations, but does not include a [FATCA Partner] Financial Institution or other Partner Jurisdiction Financial Institution other than a Financial Institution treated as a Nonparticipating Financial Institution pursuant to subparagraph 2(b) of Article 5 of this Agreement or the corresponding provision in an agreement between the United States and a Partner Jurisdiction.

  • Eligible Financial Institution means, as of the date of any assignment as contemplated in Section 8.07(a)(i), a commercial bank or financial institution (i) with a credit rating on its long-term senior unsecured debt of either (a) “AA-” or better from S&P or (b) “Aa3” or better from Xxxxx’x; and (ii) having shareholders' equity of not less than $5,000,000,000.

  • your financial institution means the financial institution nominated by you on the DDR at which the account is maintained.

  • Financial institution means a Bank, Development Finance Institution, Non Banking Finance Company, Modaraba or an institution registered under relevant laws to provide financial services within or outside Pakistan.

  • National Flood Insurance Program means the program created by the U.S. Congress pursuant to the National Flood Insurance Act of 1968 and the Flood Disaster Protection Act of 1973, as revised by the National Flood Insurance Reform Act of 1994, that mandates the purchase of flood insurance to cover real property improvements located in Special Flood Hazard Areas in participating communities and provides protection to property owners through a Federal insurance program.

  • Non-Reporting Financial Institution means any Financial Institution that is:

  • Qualified United States financial institution means an institution that:

  • State educational institution means an institution enumerated in Article 12, Section 11 of the constitution of New Mexico;

  • Health insurance issuer means an insurance company, or insurance organization (including a health

  • Financial Institutions has the meaning set forth in the preamble in this Agreement.

  • Postsecondary educational institution means a degree- or certificate-granting public or private college or university, junior college, or community college that is located in this state. The term includes the governing body of the postsecondary educational institution.

  • International Financial Institution means any bank in the top 1,000 (together with their affiliated companies) as measured by "Tier 1" capital or any broker/dealer in the top 100 as measured by capital.

  • Educational institution means a University or any educational institution recognized by the State Government, a University or other competent authority;