Investor Depositary Law and Legal Definition

According to 31 CFR 203.2 [Title 31 -- Money and Finance: Treasury; Subtitle B -- Regulations Relating to Money and Finance; Chapter Ii -- Fiscal Service, Department of the Treasury; Subchapter A -- Financial Management Service; Part 203 -- Payment of Federal Taxes and the Treasury Tax and Loan Program; Subpart A -- General Information], Investor depositary means “a TT&L (Treasury Tax and Loan Service) depositary that is authorized to participate in the investment program by accepting funds from Treasury via direct investments, special direct investments, dynamic investments, or term investments. In addition, an investor depositary may accept electronic or paper Federal tax payments from its business customers and retain a portion of those tax deposits, depending on the capacity of its TIP (Treasury Investment Program) main account balance.”