Each depositor insured to at least $250,000 per insured bank



Home > Regulation & Examinations > Bank Examinations > FDIC Enforcement Decisions and Orders




FDIC Enforcement Decisions and Orders

ED&O Home | Search Form | Text Search | ED&O Help


{{4-30-96 p.C-3645}}
   [10,974]In the Matter of Governor Financial, Salt Lake City, Utah, Docket No. FDIC-94-37q (5-4-94).

   Liability for bank's deposits having been assumed by another institution, FDIC terminates bank's deposit insurance.
In the Matter of

GOVERNOR FINANCIAL
SALT LAKE CITY, UTAH
(Insured State Nonmember Bank)
ORDER OF APPROVAL
OF TERMINATION OF
INSURANCE

FDIC-94-37q

   Pursuant to section 8(q) of the Federal Deposit Insurance Act ("Act"), 12 U.S.C. § 1818(q), and section 18(i)(3) of the Act, 12 U.S.C. § 1828(i)(3), the Federal Deposit Insurance Corporation ("FDIC"), having found that American Investment {{4-30-96 p.C-3646}}Financial, Sandy, Utah ("American Investment"), has provided to the FDIC on February 23, 1994, satisfactory evidence that it has assumed the liabilities for deposits of Governor Financial, Salt Lake City, Utah ("Governor Financial"), as of January 31, 1994, as required by section 307.1 of the FDIC's Rules and Regulations, 12 C.F.R. § 307.1, and that American Investment has notified Governor Financial's depositors of its assumption of their deposits, hereby issues the following ORDER:

ORDER

   IT IS HEREBY ORDERED, that the status of Governor Financial as an insured State nonmember bank, hereby is terminated as of February 23, 1994.
   IT IS FURTHER ORDERED, that the separate insurance of all deposits assumed by American Investment from Governor Financial shall terminate at the expiration of July 31, 1994, or in the case of any time deposit, the earliest maturity date after July 31, 1994, as provided in section 8(q) of the Act, 12 U.S.C. § 1818(q).
   Dated at Washington, D.C., this 4th day of May, 1994.
   Pursuant to delegated authority.

ED&O Home | Search Form | Text Search | ED&O Help

Last Updated 6/6/2003 legal@fdic.gov