{"identifier":"/us/usc/t12/s5622","title":12,"num":"\u00a7\u202f5622.","heading":"Definitions","text":"\u00a7\u202f5622.\nDefinitions\nIn this subchapter, the following definitions shall apply:\n(1)\nAccount\nThe term \u201caccount\u201d means an agreement between an individual and an eligible entity under which the individual obtains from or through the entity 1 or more banking products and services, and includes a deposit account, a savings account (including a money market savings account), an account for a closed-end loan, and other products or services, as the Secretary deems appropriate.\n(2)\nCommunity development financial institution\nThe term \u201ccommunity development financial institution\u201d has the same meaning as in\nsection 4702(5) of this title\n(3)\nEligible entity\nThe term \u201celigible entity\u201d means\u2014\n(A) an organization described in\nsection 501(c)(3) of title 26\n(B) a federally insured depository institution;\n(C) a community development financial institution;\n(D) a State, local, or tribal government entity; or\n(E) a partnership or other joint venture comprised of 1 or more of the entities described in subparagraphs (A) through (D), in accordance with regulations prescribed by the Secretary under this subchapter.\n(4)\nFederally insured depository institution\nThe term \u201cfederally insured depository institution\u201d means any insured depository institution (as that term is defined in\nsection 1813 of this title\nsection 1752 of this title","url":"https://projectusc.org/usc/t12/s5622.html","content":[{"t":"sec","id":"/us/usc/t12/s5622","children":[{"t":"num","text":"\u00a7\u202f5622."},{"t":"heading","text":"Definitions","tail":"\n"},{"t":"chapeau","text":"In this subchapter, the following definitions shall apply:"},{"t":"para","id":"/us/usc/t12/s5622/1","children":[{"t":"num","text":"(1)"},{"t":"heading","text":"Account"},{"t":"content","children":[{"t":"p","text":"The term \u201caccount\u201d means an agreement between an individual and an eligible entity under which the individual obtains from or through the entity 1 or more banking products and services, and includes a deposit account, a savings account (including a money market savings account), an account for a closed-end loan, and other products or services, as the Secretary deems appropriate.","tail":"\n"}],"tail":"\n"}],"tail":"\n"},{"t":"para","id":"/us/usc/t12/s5622/2","children":[{"t":"num","text":"(2)"},{"t":"heading","text":"Community development financial institution"},{"t":"content","children":[{"t":"p","text":"The term \u201ccommunity development financial institution\u201d has the same meaning as in ","children":[{"t":"ref","text":"section 4702(5) of this title","href":"/us/usc/t12/s4702/5","tail":"."}],"tail":"\n"}],"tail":"\n"}],"tail":"\n"},{"t":"para","id":"/us/usc/t12/s5622/3","children":[{"t":"num","text":"(3)"},{"t":"heading","text":"Eligible entity"},{"t":"chapeau","text":"The term \u201celigible entity\u201d means\u2014"},{"t":"subpara","id":"/us/usc/t12/s5622/3/A","children":[{"t":"num","text":"(A)"},{"t":"content","text":" an organization described in ","children":[{"t":"ref","text":"section 501(c)(3) of title 26","href":"/us/usc/t26/s501/c/3","tail":", and exempt from tax under section 501(a) of such title;"}],"tail":"\n"}],"tail":"\n"},{"t":"subpara","id":"/us/usc/t12/s5622/3/B","children":[{"t":"num","text":"(B)"},{"t":"content","text":" a federally insured depository institution;","tail":"\n"}],"tail":"\n"},{"t":"subpara","id":"/us/usc/t12/s5622/3/C","children":[{"t":"num","text":"(C)"},{"t":"content","text":" a community development financial institution;","tail":"\n"}],"tail":"\n"},{"t":"subpara","id":"/us/usc/t12/s5622/3/D","children":[{"t":"num","text":"(D)"},{"t":"content","text":" a State, local, or tribal government entity; or","tail":"\n"}],"tail":"\n"},{"t":"subpara","id":"/us/usc/t12/s5622/3/E","children":[{"t":"num","text":"(E)"},{"t":"content","text":" a partnership or other joint venture comprised of 1 or more of the entities described in subparagraphs (A) through (D), in accordance with regulations prescribed by the Secretary under this subchapter.","tail":"\n"}],"tail":"\n"}],"tail":"\n"},{"t":"para","id":"/us/usc/t12/s5622/4","children":[{"t":"num","text":"(4)"},{"t":"heading","text":"Federally insured depository institution"},{"t":"content","children":[{"t":"p","text":"The term \u201cfederally insured depository institution\u201d means any insured depository institution (as that term is defined in ","children":[{"t":"ref","text":"section 1813 of this title","href":"/us/usc/t12/s1813","tail":") and any insured credit union (as that term is defined in "},{"t":"ref","text":"section 1752 of this title","href":"/us/usc/t12/s1752","tail":")."}],"tail":"\n"}],"tail":"\n"}],"tail":"\n"},{"t":"text","text":"\n"},{"t":"text","text":"\n"}]}]}