Bank in United States

Bank Definition

(Anglicised form of bancus, a bench). The bench of justi’ce. A session in bank is one held by more than one judge of the court to determine matters of law. Distinguished from nisi prius sittings t-o determine facts. 3 Sharswood, Bl. Comm. 28, note. Bank le roy, the king’s bench. Finch, Law, 198. In Commercial Law. A place for the deposit of money. An institution, generally incorporated, authorized to receive deposits of money, to lend money, and to issue promissory notes. usually known by the name of “bank notes,” or to perform some one or more of these functions. Banks are said to be of three kinds, viz., of deposit, of discount, and of circulation; They generally perform all these operations, but an institution performing but one is a bank. 17 Wall. (U.S.) 118; but see 52 Cal. 196. A corporation loaning its own funds on note and mortgage is not a bank. 5 Sawy. (U.S.) 32. It was the custom of the early money changers to transact their business in public places, at the doors of churches, at markets, and, among the Jews, in the temple (Mark xi. 15). They used tables or benches for their convenience in counting and assorting their coins. The table so used was called banche, and the traders themselves, “bankers,” or “benchers.” In times still more ancient, their benches were called cambii, and they themselves were called cambiators. Du Cange, “Cambii.”

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(Anglicised form of bancus, a bench). The bench of justi’ce. A session in bank is one held by more than one judge of the court to determine matters of law. Distinguished from nisi prius sittings t-o determine facts. 3 Sharswood, Bl. Comm. 28, note. Bank le roy, the king’s bench. Finch, Law, 198. In Commercial Law. A place for the deposit of money. An institution, generally incorporated, authorized to receive deposits of money, to lend money, and to issue promissory notes. usually known by the name of “bank notes,” or to perform some one or more of these functions. Banks are said to be of three kinds, viz., of deposit, of discount, and of circulation; They generally perform all these operations, but an institution performing but one is a bank. 17 Wall. (U.S.) 118; but see 52 Cal. 196. A corporation loaning its own funds on note and mortgage is not a bank. 5 Sawy. (U.S.) 32. It was the custom of the early money changers to transact their business in public places, at the doors of churches, at markets, and, among the Jews, in the temple (Mark xi. 15). They used tables or benches for their convenience in counting and assorting their coins. The table so used was called banche, and the traders themselves, “bankers,” or “benchers.” In times still more ancient, their benches were called cambii, and they themselves were called cambiators. Du Cange, “Cambii.”

This definition of Bank is based on The Cyclopedic Law Dictionary. This entry needs to be proofread.

Definition of Bank in the Uniform Securities Act (2002)

“Bank” means: (A) a banking institution organized under the laws of the United States; (B) a member bank of the Federal Reserve System; (C) any other banking institution, whether incorporated or not, doing business under the laws of a State or of the United States, a substantial portion of the business of which consists of receiving deposits or exercising fiduciary powers similar to those permitted to be exercised by national banks under the authority of the Comptroller of the Currency pursuant to Section 1 of Public Law 87-722 (12 U.S.C. Section 92a), and which is supervised and examined by a state or federal agency having supervision over banks, and which is not operated for the purpose of evading the Uniform Securities Act (2002); and (D) a receiver, conservator, or other liquidating agent of any institution or firm included in subparagraph (A), (B), or (C).

Bank Regulation

In this context, Bank may be defined as follows: A state bank, a federally chartered depository institution (including a national bank) or a depository institution insured by the Federal Deposit Insurance Corporation or the National Credit Union Administration. 100.142(a)-(d); 100.82(a)-(d) and 103.2.

Bank (Types)

This section introdu
ces, discusses and describes the basics of bank . Then, cross references and a brief overview about Types is provided. Finally, the subject of Agency Relationships in relation with bank is examined. Note that a list of cross references, bibliography and other resources appears at the end of this entry.