§ 265 Insured banks as depositaries of public money; duties; security; discrimination between banks prohibited; repeal of inconsistent laws
§ 266 State-chartered banks and other institutions as depositaries of public money; fiscal agents; duties

Terms Used In U.S. Code > Title 12 > Chapter 3 > Subchapter V - Federal Deposit Insurance Corporation

  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
  • Federal Reserve System: The central bank of the United States. The Fed, as it is commonly called, regulates the U.S. monetary and financial system. The Federal Reserve System is composed of a central governmental agency in Washington, D.C. (the Board of Governors) and twelve regional Federal Reserve Banks in major cities throughout the United States. Source: OCC
  • officer: includes any person authorized by law to perform the duties of the office. See 1 USC 1
  • Oversight: Committee review of the activities of a Federal agency or program.
  • person: shall be construed to mean and include an individual, a trust, estate, partnership, association, company or corporation. See 26 USC 7701
  • Secretary: means the Secretary of the Treasury or his delegate. See 26 USC 7701
  • State: means a State, the District of Columbia, the Commonwealth of Puerto Rico, or any other territory or possession of the United States. See 1 USC 7
  • Trustee: A person or institution holding and administering property in trust.
  • United States: when used in a geographical sense includes only the States and the District of Columbia. See 26 USC 7701