### Question
How is the "in-State depository institution or in-State holding company" defined?


### Answer
The term **in-State depository institution or in-State holding company** is defined in *12 U.S.C. § 1823* as follows -

> an existing insured depository institution currently operating in the State in which the bank in default or the bank in danger of default is chartered or a company that is operating an insured depository institution subsidiary in the State in which the bank in default or the bank in danger of default is chartered

#### Citation:
  - *12 U.S.C. § 1823*
  - Heading: **CHAPTER 15-FEDERAL LOAN AGENCY**

