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OpenJurist

covered insured depository institution

Defined in 1 place of the United States Code.

the term “covered insured depository institution” means an insured depository institution that—

(i) under subsection (c) or (d), accepts funds obtained, directly or indirectly, by or through a deposit broker; or

(ii) while acting as an agent institution under subsection (i), accepts reciprocal deposits while not well capitalized.

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