Insured bank definition

Insured bank means a state bank the deposits of which are insured in accordance with the provisions of the Federal Deposit Insurance Act.

Insured bank means a bank that is an insured depository institution, as defined in the Federal Deposit Insurance Act at 12 U.S.C. § 1813(c).

Insured bank means a bank or savings and loan association insured by an agency of the United States.

Examples of Insured bank in a sentence

• Except as otherwise provided herein, no Member may withdraw from the Company; provided, however, that if the Company engages in any activity that is inconsistent with the provisions of Section 1.4, any Member that is an Insured Bank shall have the right to withdraw from the Company upon delivery of written notice of such withdrawal to the Manager.

• If any Member of the Company is an Insured Bank or the parent holding company of an Insured Bank, the books and records of the Company shall be subject to inspection and examination by examiners of any bank regulatory agency having supervisory jurisdiction over such Insured Bank and over any bank holding company of which such Insured Bank is a subsidiary, and the Manager shall make the books and records of the Company available to such agencies and their examiners upon request.

• The Company shall engage in no other business unless approved by the Members; provided, however, that notwithstanding any other provision of this Agreement, if any Member of the Company is an Insured Bank or a registered bank holding company that is the parent company of an Insured Bank, the Company shall engage only in activities that are part of, or incidental to, the business of banking.

• The Company shall be managed by FBC (the “Manager”), which shall have sole authority to manage the Company; provided, however, that Floridian, and any other Member of the Company that is an Insured Bank or the parent holding company of an Insured Bank, shall have veto power over any activities or proposed activities of the Company and over any major decisions of the Manager that are inconsistent with the provisions of Section 1.4.

• The Company shall dissolve and commence winding up and liquidating upon (i) the withdrawal of any Member that is an Insured Bank or a bank holding company that is the parent company of an Insured Bank, or (ii) the unanimous vote of the Members to dissolve, wind up or liquidate the Company.

More Definitions of Insured bank

Insured bank means a bank which is a member of the Federal Deposit Insurance Corporation.

Insured bank means a corresponding new bank or a banking company or a Regional Rural Bank or an eligible co-operative bank for the time being registered under the provisions of this Act and includes for the purposes of sections 16, 17, 18 and 21, -

Insured bank means a bank, the deposits of which are insured by the Federal Deposit Insurance Corporation.

Insured bank means any bank, including a foreign bank having aninsured branch, the deposits of which are insured in accordance with theprovisions of the Federal Deposit Insurance Act.

Insured bank means bank insured under this Act.

Insured bank means a bank, the deposits of which are insured by the

Insured bank means any bank,including a foreign bank with an insured branch, the deposits of which are insured in accordance with the provisions of the Federal Deposit Insurance Act.