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

  • 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.

  • 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.

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

  • The Board Chairman, Board Treasurer, and Head of Schools have the authority to enter into an agreement with a bank or other Federally insured financial institution once the Board has adopted a formal resolution at a board meeting designating the bank for the school to use for its financial transactions.

  • SECTION 1.2. The St. Louis Language Immersion School has the authority to enter into an agreement with a bank or other Federally insured financial institution once the Board has adopted a formal resolution at a board meeting held in accordance with its bylaws designating the bank for the school to use for its financial transactions.

  • Section 1.2. The President and CEO has the authority to enter into an agreement with a bank or other Federally insured financial institution once the Board has adopted a formal resolution at a board meeting held in accordance with its bylaws designating the bank for the school to use for its financial transactions.

  • When Danes invoked a cultural explanation it stood out as a rhetorical move that foreclosed negotiation on how to meet the challenges related to domain knowledge and “common sense”.

  • A cash Security Deposit shall be held in an interest bearing account in a Federally insured financial institution, or posted as an unconditional , irrevocable letter of credit or equivalent surety bond.

  • Prior to Landlord applying it to the first installment of Monthly Base Rent, this sum shall be held by Landlord, in an interest-bearing money-market account in a Federally insured financial institution, with all interest thereon accruing to the benefit of Tenant, as security for the payment and performance by Tenant of all of Tenant's obligations, covenants, conditions and agreements under this Lease.


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.

  • Participating Financial Institution means a Financial Institution that has been approved by the Authority to enroll Qualified Loans in the Program and has agreed to all terms and conditions set forth in the Law and this Article and as may be required by any applicable federal law providing matching funding.

  • 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.

  • 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.

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

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