11 USC 781 - Definitions

U.S Code last checked for updates: May 03, 2024

§ 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 “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 1

 See References in Text note below.

of the Federal Deposit Insurance Corporation Improvement 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.)

cite as: 11 USC 781