SIPC Fund Law and Legal Definition
SIPC Fund is a fund established by the Securities Investor Protection Corporation (SIPC) under the Securities Investor Protection Act of 1970. (15 USCS § 78ddd). All amounts received by SIPC (other than amounts paid directly to any lender pursuant to any pledge securing a borrowing by SIPC) will be deposited in the fund, and all expenditures made by SIPC will be made out of the fund. The balance of the fund at any time will consist of the aggregate of the following items:
a. cash on hand or on deposit;
b. amounts invested in United States Government or agency securities;
c. such confirmed lines of credit as SIPC may from time to time maintain.
