### Question
How does the law define default?


### Answer
Under *12 U.S.C. § 1467a*, **default** is defined as:

> an adjudication or other official determination of a court of competent jurisdiction or other public authority pursuant to which a conservator, receiver, or other legal custodian is appointed

#### Citation:
  - *12 U.S.C. § 1467a*
  - Heading: **CHAPTER 12-SAVINGS ASSOCIATIONS**

