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LSDefine

Simple English definitions for legal terms

depository institution

Read a random definition: business method

A quick definition of depository institution:

A depository institution is a type of organization that is allowed by law to receive deposits from people and businesses. These institutions are closely watched by the government to make sure that people's money is safe. They can also have other powers, like managing trusts. However, not all types of banks are depository institutions. For example, insurance companies and some other banks are not considered depository institutions unless they have federal insurance for their deposits.

A more thorough explanation:

A depository institution is an organization that is authorized by state or federal law to receive deposits from individuals and businesses. These institutions are supervised and examined by government agencies to protect depositors.

Examples of depository institutions include:

These institutions are authorized to exercise fiduciary powers, which means they can act as a trustee or manage assets on behalf of their clients.

It's important to note that not all financial institutions are depository institutions. For example, insurance companies and industrial loan companies are not considered depository institutions unless their deposits are insured by a federal agency.

Overall, depository institutions play a crucial role in the economy by providing a safe place for individuals and businesses to deposit their money and access financial services.

depositor | depository-transfer check

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General

General chat about the legal profession.
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got a random stanford email and almost had a heart attack
ALSO CONGRATS!
Congrats1!
21:15
Miami A, yall I'm so excited I could cry.
21:15
Feel like I can finally stop holding my breath!! Whew!!!
[] baddestbunny
22:16
every time I get accosted by a strange man who follows me around because my male coworkers were too busy talking to walk me back to my car I get closer to saying we need to bring back traditional gender roles
Dkk
22:32
Nice! @Macaque
Dkk
22:32
@Aromatic, Have to guess.
Dkk
22:33
That sucks @Bunny do you have to go to the hospital?
[] baddestbunny
22:40
I said accosted not assaulted
23:35
guys. my notre dame address just went long is this good or bad
1a2b3c4d26z
23:37
Oooooo me too
23:37
omg is this good or bad
Dkk
23:47
Idk if gender roles are gunna fix that then.
23:49
it looks like most people who applied in october last cycle didn't get a decision until january... does it even mean anything that our addresses went long??
hows ED 2 compared to ED 1?
Dkk
0:10
No idea
windyMagician
0:34
reporting live to say my ndls address also went long
does it mean anything ^
Dkk
2:21
NDLS and Fordham took a very long time last year. It's good info for people to know.
[] baddestbunny
4:29
let’s get after it boys and girls
Dkk
5:21
I gtg to bed soon.
Dkk
5:22
Big day today. Gunna be a crazy one. I will sleep through the first half.
good morning lsd it is 5 am EST
also jazzy my ndls address went long ages ago i sadly do not think it means anything
my stanford address also went long LOL i think at most it's an indicator it's under review
WorthlessAttractiveZombie
7:44
My berkeley paragraph finally disappeared. I definitely think it is just an indicator that they are actively reviewing files, and does not mean anything about A, WL, or Rs
WorthlessAttractiveZombie
7:46
Also has anyone's date disappeared for W&L? Mine did last night
7:55
@WorthlessAttractiveZombie: mine did yesterday morning
7:56
Oops sorry I meant Vilanova. Mine disappeared last week
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