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FDIC Enforcement Decisions and Orders
Status of bank as Insured National Bank terminated.
In the Matter of
Pursuant to section 8(q) of the Federal Deposit Insurance
Act (the "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 GE Money Bank, Salt Lake
City, Utah ("GE Money"), has provided to the FDIC on January 30,
2006, satisfactory evidence that it has assumed the liabilities for
deposits of Belk National Bank, Lawrenceville, Georgia ("Belk"),
as of January 28, 2006, as required by section 307.1 of the FDIC's
Rules and Regulations, 12 C.F.R. §307.1, and that GE Money has
notified Belk's deposits of its assumption of their deposits, hereby
issues the following ORDER:
IT IS HEREBY ORDERED, that the status of Belk as an insured national bank, hereby is terminated on January 30, 2006.
It is further ordered, that the separate insurance of all deposits assumed by GE Money from Belk shall terminate at the expiration of July 28, 2006, or, in the case of any time deposit, the earliest maturity date after July 28, 2006, as provided in section 8(q) of the Act, 12, U.S.C. §1818(q).
Pursuant to delegated authority.
Dated at Washington, D.C., this 30th day of January, 2006.
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