As used in this subchapter, the term “bank” means any national banking association or any other financial institution chartered or licensed under Federal law and subject to the supervision of the Comptroller of the Currency; the term “voluntary dissolution and liquidation” means a transaction pursuant to section 181 of this title that involves the assumption of the bank‘s insured deposit liabilities and the sale of the bank, or of control of the bank, as a going concern; and the term “State” means any State, Territory, or possession of the United States, and the Canal Zone.

Terms Used In 12 USC 202

  • association: when used in reference to a corporation, shall be deemed to embrace the words "successors and assigns of such company or association" in like manner as if these last-named words, or words of similar import, were expressed. See 1 USC 5
  • bank: means any national banking association or any other financial institution chartered or licensed under Federal law and subject to the supervision of the Comptroller of the Currency. See 12 USC 202
  • Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
  • State: means any State, Territory, or possession of the United States, and the Canal Zone. See 12 USC 202
  Previous section
Next section  
 Subchapter XIV Contents