{{12-31-92 p.C-2954}}
[¶10,700E] In the Matter of Fidelity National Trust Company, Los Angeles,
California, Docket No. FDIC-92-378p (12-31-92)
Termination of insurance of Bank not engaged in the business of
receiving deposits, other than trust funds.
In the Matter of
FIDELITY NATIONAL TRUST
COMPANY
LOS ANGELES, CALIFORNIA
(Insured National Bank)
ORDER OF TERMINATION OF
INSURANCE
FDIC-92-378p
Pursuant to section 8(p) of the Federal Deposit Insurance Act, 12
U.S.C. §1818(p), the Federal Deposit Insurance Corporation
("FDIC") hereby finds that Fidelity National Trust Company, Los
Angeles, California ("Insured Institution"), is not engaged in
the business of receiving deposits, other than trust funds, and issues
the following ORDER:
ORDER
IT IS HEREBY ORDERED, that the status of the Insured Institution
as an insured national bank be, and hereby is, terminated at the
expiration of June 30, 1993, which is the last day of the first full
semiannual assessment period following the date of issuance of this
ORDER.
IT IS FURTHER ORDERED, that the Insured Institution notify its
depositors, if any, of the termination of its insured status no later
than May 31, 1993, in the manner required by section 308.124(c) of the
FDIC's Rules of Practice and Procedure, 12 C.F.R. §308.124(c).
Pursuant to delegated authority.
Dated at Washington, D.C., this 31st day of December, 1992.
Hoyle L. Robinson
Executive Secretary
In the Matter of
FIDELITY NATIONAL TRUST
COMPANY
LOS ANGELES, CALIFORNIA
(Insured National Bank)
STIPULATION AND CONSENT TO
THE ISSUANCE OF AN ORDER OF
TERMINATION OF
INSURANCE
FDIC-92-378p
Subject to the acceptance of this STIPULATION AND CONSENT TO
THE ISSUANCE OF AN ORDER OF TERMINATION OF INSURANCE
("STIPULATION") by the Federal Deposit Insurance Corporation
("FDIC"), it is hereby stipulated and agreed by and between a
representative of the Legal Division of the FDIC and Fidelity National
Trust Company, Los Angeles, California ("Insured Institition"),
as follows:
1. The Insured Institution has been advised of its right to receive a
NOTICE OF INTENTION TO TERMINATE INSURED STATUS AND ORDER TO SHOW CAUSE
why its insured status should not be terminated under the provisions of
section 8(p) of the Federal Deposit Insurance Act ("Act"), 12
U.S.C. §1818(p), because it is not engaged in the business of
receiving deposits, other than trust funds, and of its right to a
hearing, and has waived those rights.
2. The Insured Institution hereby consents and agrees to the issuance
of an ORDER OF TERMINATION OF INSURANCE ("ORDER") by the FDIC.
The Insured Institution further stipulates and agrees that such ORDER
shall be deemed to be an order which has become final, and that said
ORDER shall become effective at the expiration of June 30, 1993, which
is the last day of the first full semiannual assessment period
following the date of issuance of such ORDER, and fully enforceable by
the FDIC pursuant to section 8(i) of the Act, 12 U.S.C. §1818(i),
subject only to the conditions set forth in paragraph 3 of this
STIPULATION.
3. In the event the FDIC accepts this STIPULATION and issues the ORDER,
it is agreed that no legal action to enforce said ORDER in a United
States district court will be initiated by the FDIC unless the Insured
Institution, or any director, officer, employee, agent, or other
institution-affiliated party of the Insured Institution, or any
successor or assign of the Insured Institution, has violated or is
about to violate the ORDER.
4. The Insured Institution hereby waives:
(a) the receipt of a NOTICE OF INTENTION TO TERMINATE INSURED
STATUS AND ORDER TO SHOW CAUSE;
(b) a hearing for the purpose of taking evidence on such NOTICE;
(c) the filing of proposed Findings of Fact and Conclusions of Law;
(d) a recommended decision of an Administrative Law Judge; and
(e) exceptions and briefs with respect to such recommended decision.
Dated: December 9, 1992
FEDERAL DEPOSIT INSURANCE CORPORATIONLEGAL
DIVISION
Philip P. Houle
Senior Attorney
Dated: December 7, 1992
FIDELITY NATIONAL TRUST
COMPANY
LOS ANGELES, CALIFORNIA