reserve fund

(9) Reserve fund The term “reserve fund” means a fund, established by a participating State, dedicated to a particular financial institution lender, for the purposes of— (A) depositing all required premium charges paid by the financial institution lender and by each borrower receiving a loan under an approved State program from that financial institution lender; (B) depositing contributions made by the participating State, including State contributions made with Federal contributions; and (C) covering losses on enrolled loans by disbursing accumulated funds.

Source

12 USC § 5701(9)


Scoping language

In this chapter
Is this correct? or