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LSDefine

Simple English definitions for legal terms

savings and loan

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A quick definition of savings and loan:

Savings and loan (S&L) associations are banks that specialize in providing home loans and accepting savings deposits. They may also offer other services like loans and checks. S&L associations can be owned by depositors and borrowers or shareholders. They are regulated by the Office of Thrift Supervision to ensure they operate safely and follow financial rules.

A more thorough explanation:

Definition: Savings and loan (S&L) associations, also known as thrifts, are financial institutions that specialize in providing residential mortgage loans and accepting savings deposits. They may also offer other services such as loans and checks.

S&L associations can be organized in two ways: cooperatively or corporately. In a mutual ownership model, depositors and borrowers own the S&L. In a stock ownership model, shareholders own the S&L under a charter.

S&L associations can be chartered at the state or federal level. The Office of Thrift Supervision monitors their activities to ensure they operate safely and comply with financial regulations.

Example: A person who wants to buy a house can go to an S&L association to get a mortgage loan. They can also deposit their savings in the same institution. The S&L association uses the deposits to fund the mortgage loans.

Explanation: This example illustrates how S&L associations specialize in providing residential mortgage loans and accepting savings deposits. The S&L association uses the deposits to fund the mortgage loans, which is their primary business.

Save harmless | Schechter Poultry Corp. v. United States (1935)

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MIAMI A
[] AromaticTroubledDormouse
20:55
How does one know if they are UR1 or UR2?
[] AromaticTroubledDormouse
20:56
CONGRATS MACAQUE!
TY
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
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