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11 U.S.C. § 781 — Definitions
Federal law — U.S. Code and appendices · legal_authorities
For purposes of this subchapter, the following definitions shall apply:
(1) **Board.—** — The term “Board” means the Board of Governors of the Federal Reserve System.
(2) **Depository institution.—** — The term “depository institution” has the same meaning as in section 3 of the Federal Deposit Insurance Act.
(3) **Clearing bank.—** — The term “clearing bank” means an uninsured State member bank, or a corporation organized under section 25A of the Federal Reserve Act, which operates, or operates as, a multilateral clearing organization pursuant to section 409 11 See References in Text note below. of the Federal Deposit Insurance Corporation Improvement Act of 1991.
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Source location: Title 11, Chapter 7, § 781; chapter-007-liquidation.md
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For purposes of this subchapter, the following definitions shall apply:
(1) **Board.—** — The term “Board” means the Board of Governors of the Federal Reserve System.
(2) **Depository institution.—** — The term “depository institution” has the same meaning as in section 3 of the Federal Deposit Insurance Act.
(3) **Clearing bank.—** — The term “clearing bank” means an uninsured State member bank, or a corporation organized under section 25A of the Federal Reserve Act, which operates, or operates as, a multilateral clearing organization pursuant to section 409 11 See References in Text note below. of the Federal Deposit Insurance Corporation Improvement Act of 1991.
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Federal law — U.S. Code and appendices · legal_authorities
Corporations to be organized for the purpose of engaging in international or foreign banking or other international or foreign financial operations, or in banking or other financial operations in a dependency or insular possession of the United States, either directly or through the agency, ownership or control of local institutions in foreign countries, or in such dependencies or insular possessions as provided by this subchapter and to act when required by the Secretary of the Treasury as fiscal agents of the United States, may be formed by any number of natural persons, not less in any case than five: Provided, That nothing in this subchapter shall be construed to deny the right of the Secretary of the Treasury to use any corporation organized under this subchapter as depositaries in Panama and the Panama Canal Zone, or other insular possessions and dependencies of the United States.
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Federal law — U.S. Code and appendices · legal_authorities
As used in this chapter—
**(a) Definitions of bank and related terms**
(1) **Bank** — The term “bank”—
(A) means any national bank and State bank, and any Federal branch and insured branch;
(B) includes any former savings association.
(2) **State bank** — The term “State bank” means any bank, banking association, trust company, savings bank, industrial bank (or similar depository institution which the Board of Directors finds to be operating substantially in the same manner as an industrial bank), or other banking institution which—
(A) is engaged in the business of receiving deposits, other than trust funds (as defined in this section); and
(B) is incorporated under the laws of any State or which is operating under the Code of Law for the District of Columbia,
including any cooperative bank or other unincorporated bank the deposits of which were insured by the Corporation on the day before August 9, 1989.
(3) **State** — The term “State” means any State of the United States, the District of Columbia, any territory of the United States, Puerto Rico, Guam, American Samoa, the Trust Territory of the Pacific Islands, the Virgin Islands, and the Northern Mariana Islands.
**(b) Definition of savings associations and related terms**
(1) **Savings association** — The term “savings association” means—
(A) any Federal savings association;
(B) any State savings association; and
(C) any corporation (other than a bank) that the Board of Directors and the Comptroller of the Currency jointly determine to be operating in substantially the same manner as a savings association.
(2) **Federal savings association** — The term “Federal savings association” means any Federal savings association or Federal savings bank which is chartered under [section 1464 of t
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Federal law — U.S. Code and appendices · legal_authorities
Page 225
TITLE 11—BANKRUPTCY
§ 783
1 See References in Text note below.
the priority of any unsecured claim it may have
after the exercise of such rights.
(Added Pub. L. 109–8, title IX, § 907(l), Apr. 20,
2005, 119 Stat. 181.)
Statutory Notes and Related Subsidiaries
EFFECTIVE DATE
Section effective 180 days after Apr. 20, 2005, and not
applicable with respect to cases commenced under this
title before such effective date, except as otherwise
provided, see section 1501 of Pub. L. 109–8, set out as an
Effective Date of 2005 Amendment note under section
101 of this title.
SUBCHAPTER V—CLEARING BANK
LIQUIDATION
§ 781. Definitions
For purposes of this subchapter, the following
definitions shall apply:
(1) BOARD.—The term ‘‘Board’’ means the
Board of Governors of the Federal Reserve
System.
(2) DEPOSITORY INSTITUTION.—The term ‘‘de-
pository institution’’ has the same meaning as
in section 3 of the Federal Deposit Insurance
Act.
(3) CLEARING
BANK.—The term ‘‘clearing
bank’’ means an uninsured State member
bank, or a corporation organized under section
25A of the Federal Reserve Act, which oper-
ates, or operates as, a multilateral clearing or-
ganization pursuant to section 409 1 of the Fed-
eral Deposit Insurance Corporation Improve-
ment Act of 1991.
(Added
Pub.
L.
106–554,
§ 1(a)(5)
[title
I,
§ 112(c)(5)(B)], Dec. 21, 2000, 114 Stat. 2763,
2763A–394.)
Editorial Notes
REFERENCES IN TEXT
Section 3 of the Federal Deposit Insurance Act, re-
ferred to in par. (2), is classified to section 1813 of Title
12, Banks and Banking.
Section 25A of the Federal Reserve Act, referred to in
par. (3), popularly known as the Edge Act, is classified
to subchapter II (§ 611 et seq.) of chapter 6 of Title 12,
Banks and Banking. For complete classificat
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