national bank


national bank
An instrumentality or agency of the Federal Government although, for the most part, similar in nature to, and governed by, the same rules as state banks insofar as their functions, powers, and liabilities are concerned. 10 Am J2d Bks § 5. A private banking corporation organized under United States statutes, and intended for public accommodation. Ryan v McLane, 91 Md 175, 46 A 340.

Ballentine's law dictionary. . 1998.

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  • national bank — n. 1. a bank or system of banks owned and operated by a government, as in some foreign countries ☆ 2. in the U.S., a bank chartered by the federal government and, since 1913, required to be a member of the Federal Reserve System …   English World dictionary

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  • national bank — A bank incorporated and doing business under the laws of the United States, whose charter is approved by the Comptroller of the Currency as distinguished from a state bank, which derives its powers from the authority of a particular state. Most… …   Black's law dictionary