12 U.S.C. § 1814

Insured depository institutions

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(a) Continuation of insurance(1) Banks

Each bank, which is an insured depository institution on September 21, 1950, shall be and continue to be, without application or approval, an insured depository institution and shall be subject to the provisions of this chapter.

(2) Savings associations

Each savings association the accounts of which were insured by the Federal Savings and Loan Insurance Corporation on the day before August 9, 1989, shall be, without application or approval, an insured depository institution.

(b) Continuation of insurance upon becoming a member bank

In the case of an insured bank which is admitted to membership in the Federal Reserve System or an insured State bank which is converted into a national member bank, the bank shall continue as an insured bank.

(c) Continuation of insurance after conversionSubject to section 1815(d) of this title and section 1464(i)(5) of this title—(1) any State depository institution which results from the conversion of any insured Federal depository institution; and(2) any Federal depository institution which results from the conversion of any insured State or Federal depository institution,shall continue as an insured depository institution.(d) Continuation of insurance after merger or consolidation

Any State depository institution or any Federal depository institution which results from the merger or consolidation of insured depository institutions, or from the merger or consolidation of a noninsured depository institution with an insured depository institution, shall continue as an insured depository institution.

(Sept. 21, 1950, ch. 967, § 2[4], 64 Stat. 875; Pub. L. 97–320, title I, § 113(c), Oct. 15, 1982, 96 Stat. 1473; Pub. L. 101–73, title II, §§ 201(a), 205, Aug. 9, 1989, 103 Stat. 187, 194; Pub. L. 102–242, title I, § 115(b), Dec. 19, 1991, 105 Stat. 2249; Pub. L. 102–550, title XVI, § 1603(b)(6), Oct. 28, 1992, 106 Stat. 4079; Pub. L. 109–351, title VI, § 608(b), Oct. 13, 2006, 120 Stat. 1983.)Editorial NotesPrior Provisions

Section is derived from subsec. (e) of former section 264 of this title. See Codification note set out under section 1811 of this title.

Amendments

2006—Subsec. (c). Pub. L. 109–351, § 608(b)(1), inserted “and section 1464(i)(5) of this title” after “section 1815(d) of this title” in introductory provisions.

Subsec. (c)(2). Pub. L. 109–351, § 608(b)(2), which directed insertion of “or Federal” after “insured State,”, was executed by making the insertion after “insured State”, to reflect the probable intent of Congress.

1992—Subsec. (b). Pub. L. 102–550 amended directory language of Pub. L. 102–242, § 115(b). See 1991 Amendment note below.

1991—Subsec. (b). Pub. L. 102–242, § 115(b), as amended by Pub. L. 102–550, § 1603(b)(6), amended subsec. (b) generally, substituting present provisions for provisions which related to certification by other banking agencies.

1989—Pub. L. 101–73, § 201(a), substituted references to insured depository institutions for references to insured banks wherever appearing.

Subsec. (a). Pub. L. 101–73, § 205(1), inserted heading, designated existing provisions as par. (1), inserted par. (1) heading, and substituted “Each bank” for “Every bank”, and added par. (2).

Subsec. (b). Pub. L. 101–73, § 205(2)(A), (B), inserted after first sentence “Any application or notice for membership or to commence or resume business shall be promptly provided by the appropriate Federal banking agency to the Corporation and the Corporation shall have a reasonable period of time to provide comments on such application or notice. Any comments submitted by the Corporation to the appropriate Federal banking agency shall be considered by such agency.” and struck out at end “A State bank, resulting from the conversion of an insured national bank, shall continue as an insured bank. A State bank, resulting from the merger or consolidation of insured banks, or from the merger or consolidation of a noninsured bank or institution with an insured State bank, shall continue as an insured bank.”

Pub. L. 101–73, § 205(2)(C), which directed the amendment of subsec. (b) by substituting “(b) Certification by Other Banking Agencies.—Every national bank” for “(b) Every national bank” could not be executed literally because the original read “(b) Every national member bank”, but was executed by inserting the heading without changing the text to reflect the probable intent of Congress.

Subsec. (c). Pub. L. 101–73, § 205(3), amended subsec. (c) generally. Prior to amendment, subsec. (c) read as follows: “Every Federal savings bank which is chartered pursuant to section 1464(o) of this title, and which is engaged in the business of receiving deposits other than trust funds, shall be an insured bank from the time it is authorized to commence business, until such time as its accounts are insured by the Federal Savings and Loan Insurance Corporation.”

Subsec. (d). Pub. L. 101–73, § 205(3), added subsec. (d).

1982—Subsec. (c). Pub. L. 97–320 added subsec. (c).

Statutory Notes and Related SubsidiariesEffective Date of 1992 Amendment

Amendment by Pub. L. 102–558 deemed to have become effective Mar. 1, 1992, see section 304 of Pub. L. 102–558, set out as a note under section 4502 of Title 50, War and National Defense.

Notes of Decisions

Cited in 11 cases, 1967–2008 · leading case: United States v. Edward P. Knop, 701 F.2d 670 (7th Cir. 1983).

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United States v. Edward P. Knop, 701 F.2d 670 (7th Cir. 1983). · cites it 2× “We also note that federal law mandates that national banks be federally insured, see 12 U.S.C. § 1814 (b). We believe that from the evidence, viewed in context, the jury could and did draw the reasonable inference that the banks were federally insured at the time of commission…”

United States v. Gary L. Shively, United States of Am. v. G. Winfield Pardee, 715 F.2d 260 (7th Cir. 1983). “Although the bank in Platenburg was not a national bank as in this case, and national banks are required by law to be insured by the FDIC, 12 U.S.C. §§ 1814 (b), 1818, you cannot infer from the fact that someone is required by law to do something that he has done it.”

Fed. Deposit Ins. Corp. v. Cerar (In Re Cerar), 97 B.R. 447 (C.D. Ill. 1989). “12 U.S.C. §§ 1814 , 1815. Banks are periodically reexamined to determine whether deposit insurance is to be continued.”

William C. Davidson v. Fed. Deposit Ins. Corp. as Receiver for United Bank of Texas, Defendant-Intervenor-Appellee, 44 F.3d 246 (5th Cir. 1995). “That being the case, the foreclosure was timely under the limitations provisions of FIRREA, found in 12 U.S.C. § 1814 (d)(14)(A)(i). Conclusion For the foregoing reasons, the judgment of the district court is AFFIRMED.”

Merch. Nat'l Bank v. Kolber, 365 N.E.2d 688 (Ill. App. Ct. 1977). “31, 1970; see also 12 U.S.C. §1814 (1970).”

City Nat'l Bank v. James E. Smith, Comptroller of Currency of the United States, Meadowbrook Nat'l Bank, 513 F.2d 479 (D.C. Cir. 1975). “See also 12 U.S.C. §§ 1814 , 1816 (1970). 8 . The letter reads in pertinent part: Our opposition to the proposed charter is based on the following objections: 1.”

United States v. Ayewoh, 587 F. Supp. 2d 378 (D.P.R. 2008). “2d at 259-60 , while the principle permitting inference of a prior from a subsequent condition “is to be used with caution,” its application is appropriate in a case such as this in light of “the common knowledge of the nearly universal prevalence of the banks of the United…”

In Re N-500L Cases, 502 F. Supp. 60 (D.P.R. 1980). “Act, 12 U.S.C. § 1814 . In that case, Defendants asserted a state-law claim against one not subject to an independent basis of federal jurisdiction.”

Hanaway v. State, 352 A.2d 715 (N.H. 1976). “See 12 U.S.C.A. §§ 1814 , 1816 (1969); 12 C.F.”

DeLorenzo v. Fed. Deposit Ins., 268 F. Supp. 378 (S.D.N.Y. 1967). “” Defendant correctly contends that it is not an unauthorized corporation since it is specifically authorized by 12 U.S.C. § 1814 to insure all national banks.”

Medina v. E. Airlines, Inc., 502 F. Supp. 60 (D.P.R. 1980). “Act, 12 U.S.C. § 1814 . In that case, Defendants asserted a state-law claim against one not subject to an independent basis of federal jurisdiction.”

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