bank guaranty law

bank guaranty law
A statute which has for its purpose the guaranty of payment of bank deposits in whole or in a stated percentage, subject to limitations upon the amount of the deposit. See Deposit Insurance Corporation.

Ballentine's law dictionary. . 1998.

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  • security — se·cur·i·ty /si kyu̇r ə tē/ n pl ties 1 a: something (as a mortgage or collateral) that is provided to make certain the fulfillment of an obligation used his property as security for a loan b: surety see also …   Law dictionary

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