DEPOSITORY INSTITUTION

glossary /

DEPOSITORY INSTITUTION

depository institution.

1. An organization formed under state or federal law, authorized by law to receive deposits, and supervised and examined by a government agency for the protection of depositors. [Cases: Banks and Banking 1¨C62. C.J.S. Banks and Banking ¡ì¡ì 2¨C126, 480¨C481, 663¨C664, 697, 732¨C739, 746¨C748, 755, 758¨C783.]

2. A trust company or other institution authorized by law to exercise fiduciary powers similar to those of a national bank. ? The term does not include an insurance company, a Morris Plan bank, an industrial loan company, or similar bank unless its deposits are insured by a federal agency.

What is the legal translation of DEPOSITORY INSTITUTION in Chinese?
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