Depository Institution Organization and Formation State Law Survey


This survey addresses key requirements for the organization and formation of state-chartered depository institutions. Depository institution refers to any bank or savings association. In the United States, depository institutions can be chartered by state banking authorities (state bank charter) in each of the 50 states or by federal agencies (federal bank charter) such as the Office of the Comptroller of the Currency (OCC). With few exceptions, depository institutions seeking state charters, are required to apply for Federal Deposit Insurance Corporation (FDIC) insurance as part of the charter application.