Bank Insurance Fund Law and Legal Definition
According to 12 USCS § 1817(l) (1), [Title 12. Banks and Banking; Chapter 16. Federal Deposit Insurance Corporation] the term Bank Insurance Fund means, “any institution which--
(A) becomes an insured depository institution; and
(B) does not become a Savings Association Insurance Fund member pursuant to paragraph (2), shall be a Bank Insurance Fund member.”
