### Question
What does insured deposit mean?


### Answer
**Insured deposit** has the following meaning in *12 U.S.C. § 1813*:

> an insured deposit as defined in paragraph (1) of this subsection which—


(A) is payable in the United States to—


(i) an individual who is a citizen or resident of the United States,


(ii) a partnership, corporation, trust, or other legally cognizable entity created under the laws of the United States or any State and having its principal place of business within the United States or any State, or


(iii) an individual, partnership, corporation, trust, or other legally cognizable entity which is determined by the Board of Directors in accordance with its regulations to have such business or financial relationships in the United States as to make the insurance of such deposit consistent with the purposes of this chapter

#### Citation:
  - *12 U.S.C. § 1813*
  - Heading: **CHAPTER 16-FEDERAL DEPOSIT INSURANCE CORPORATION**

