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
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Right, in most states, of an insured to have 10 days in which to examine an insurance policy, and if not satisfied, to return it to the company for a full refund of the initial premium. ...
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Modifications of the traditional defined benefit plan in which employees are credited with a specified percentage for each year of recognized service with the employer. Upon termination of ...
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