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LSDefine

Simple English definitions for legal terms

depository institution

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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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THATS SO FUNNY
i cant i would go crazy
JumpySubsequentDolphin
20:50
i need to know who decided to do that.
JumpySubsequentDolphin
20:50
omg im on a plane weeeee
the devil
youre on a plane??? LSD made the mile high club??
20:50
yo splitterus are you in school already
20:50
it says ur c/o 2027
JumpySubsequentDolphin
20:51
@SplitterusClitterus: HAHAH yes
ur user is hilarioussss and no i just graduated this may and am now applying ---also im out of messages so ill take a lil
20:52
roger dat. see u in heck
im back, r u applying this cycle too
JumpySubsequentDolphin
21:32
this child fell asleep on me
JumpySubsequentDolphin
21:32
im so uncomfortable
just push him off the entire seat
JumpySubsequentDolphin
21:34
LMAOOOO
JumpySubsequentDolphin
21:35
no he’s literally like 8 and he fully just put his head on my bicep and slept
JumpySubsequentDolphin
21:35
he has since moved
22:12
@SplitterusClitterus: me yesterday
gulc baby pls text me back... i miss you ...... :(
22:23
i just went into a discord vc and yelled "YALL I JUST GOT INTO J.M. SCHOOL OF LAW"
22:24
people were getting excited :sob:
22:25
then someone was like "what does jm stand for" and i was like .. well
AHHAHAHAHAHAHHAHAHAHAHAHAH
@JumpySubsequentDolphin: wait this is so cute, also where r u going
JOE MBIDEN
JumpySubsequentDolphin
22:39
@splitty Oregon!
oh yay for what thats so random
JumpySubsequentDolphin
22:45
haha my brother and sister in law live there
so cutie oregon is beatiful
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