State Savings Guarantee Corporation
Definition of "State savings guarantee corporation"
State-sponsored insurance fund that was intended to guarantee deposits at state-chartered savings institutions. A handful of these funds existed in the early 1980s, but after a string of savings and loan failures in Maryland and Ohio in 1985, these funds were phased out and the member savings institutions converted to Federal Deposit Insurance.
Popular Insurance Terms
part of the Model Uniform Life and Health Insurance Policy Provisions Law giving an insurer a time limit on contesting coverage for preexisting conditions or misrepresentation. This law, ...
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