§ 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

  • Deed: The legal instrument used to transfer title in real property from one person to another.
  • Fixed Rate: Having a "fixed" rate means that the APR doesn't change based on fluctuations of some external rate (such as the "Prime Rate"). In other words, a fixed rate is a rate that is not a variable rate. A fixed APR can change over time, in several circumstances:
    • You are late making a payment or commit some other default, triggering an increase to a penalty rate
    • The bank changes the terms of your account and you do not reject the change.
    • The rate expires (if the rate was fixed for only a certain period of time).
  • Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
  • Mortgage loan: A loan made by a lender to a borrower for the financing of real property. Source: OCC
  • Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
  • Trustee: A person or institution holding and administering property in trust.