Section 781 - Definitions


Title 11 of the United States Code - Bankruptcy
LIQUIDATION – CHAPTER 7


Definitions - Section 781
11 USCS § 781


For purposes of this subchapter [11 USCS §§ 781 et seq.], 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 [12 USCS § 1813].
   (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 [12 USCS § 611 et seq.], which operates, or operates as, a multilateral clearing organization pursuant to section 409 of the Federal Deposit Insurance Corporation Improvement Act of 1991 [12 USCS § 4422].


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