depositors' guaranty fund

depositors' guaranty fund
A fund to which the banks of a state contribute according to the amount of their deposits, established for the protection of depositors, that is, to make the currency of checks secure and also to protect the depositors in respect of their deposits. 10 Am J2d Banks § 424. See permanent insurance fund.

Ballentine's law dictionary. . 1998.

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Look at other dictionaries:

  • guaranty fund — See depositors guaranty fund; reserve …   Ballentine's law dictionary

  • guaranty — 1. v. To undertake collaterally to answer for the payment of another s debt or the performance of another s duty, liability, or obligation; to assume the responsibility of a guarantor; to warrant. See guaranty noun, 2. n A collateral agreement… …   Black's law dictionary

  • guaranty — 1. v. To undertake collaterally to answer for the payment of another s debt or the performance of another s duty, liability, or obligation; to assume the responsibility of a guarantor; to warrant. See guaranty noun, 2. n A collateral agreement… …   Black's law dictionary

  • deposit — Verb: To put down, as a deposit of earnest money; to put money or things in a place for storage or safekeeping; to put money in a bank at interest or on checking account. Noun: An accumulation; money or an article deposited. See bank deposit;… …   Ballentine's law dictionary

  • insurance — A contract whereby, for a stipulated consideration, one party undertakes to compensate the other for loss on a specified subject by specified perils. The party agreeing to make the compensation is usually called the insurer or underwriter; the… …   Black's law dictionary

  • insurance — A contract whereby, for a stipulated consideration, one party undertakes to compensate the other for loss on a specified subject by specified perils. The party agreeing to make the compensation is usually called the insurer or underwriter; the… …   Black's law dictionary

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  • stock — The goods and wares of a merchant or tradesman, kept for sale and traffic. In a larger sense, the capital of a merchant or other person, including his merchandise, money, and credits, or, in other words, the entire property employed in business.… …   Black's law dictionary

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