[¶11,710]In the Matter of Toyo Trust Company of New York, New York, New York, Docket No. 00-011p (5-15-00)
FDIC terminates insured status of bank that no longer receives deposits.
In the Matter of
TOYO TRUST COMPANY OF NEW YORK NEW YORK CITY, NEW YORK (Insured State Nonmember Bank)
ORDER OF TERMINATION OF INSURANCE
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 Toyo Trust Company of New York, New York City, New York ("Insured Institution"), is not engaged in the business of receiving deposits, other than trust funds, and issues the following ORDER:
IT IS HEREBY ORDERED, that the status of the Insured Institution as an insured state nonmember bank be, and hereby is, terminated at the expiration of December 31, 2000, 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 December 1, 2000, 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 15th day of May, 2000.