reserve fund
Defined in 2 dictionaries — U.S. Code, Ballentine's (1916)
United States Code
12 U.S.C. § 4742 — for purposes of this subchapter
the term “reserve fund” means a fund, established by a participating State, earmarked for a particular participating financial institution, for the purposes of—
(A) depositing all required premium charges paid by the participating financial institution and by each borrower receiving a loan under the Program from a participating financial institution;
(B) depositing contributions made by the participating State; and
(C) covering losses on enrolled loans by disbursing accumulated funds; and
12 U.S.C. § 5701 — in this chapter
The term “reserve fund” means a fund, established by a participating State, dedicated to a particular financial institution lender, for the purposes of—
(A) depositing all required premium charges paid by the financial institution lender and by each borrower receiving a loan under an approved State program from that financial institution lender;
(B) depositing contributions made by the participating State, including State contributions made with Federal contributions; and
(C) covering losses on enrolled loans by disbursing accumulated funds.
Ballentine's Law Dictionary
James A. Ballentine · 1916