insured depository institution

(53) (A) The term “small business related security” means a security that meets standards of credit-worthiness as established by the Commission, and either— (i) represents an interest in 1 or more promissory notes or leases of personal property evidencing the obligation of a small business concern and originated by an insured depository institution, insured credit union, insurance company, or similar institution which is supervised and examined by a Federal or State authority, or a finance company or leasing company; or (ii) is secured by an interest in 1 or more promissory notes or leases of personal property (with or without recourse to the issuer or lessee) and provides for payments of principal in relation to payments, or reasonable projections of payments, on notes or leases described in clause (i). (B) For purposes of this paragraph— (i) an “interest in a promissory note or a lease of personal property” includes ownership rights, certificates of interest or participation in such notes or leases, and rights designed to assure servicing of such notes or leases, or the receipt or timely receipt of amounts payable under such notes or leases; (ii) the term “small business concern” means a business that meets the criteria for a small business concern established by the Small Business Administration under section 632(a) of this title ; (iii) the term “insured depository institution” has the same meaning as in section 3 of the Federal Deposit Insurance Act [ 12 U.S.C. 1813 ]; and (iv) the term “insured credit union” has the same meaning as in section 1752 of title 12 .


15 USC § 78c(a)(53)

Scoping language

For purposes of this paragraph
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