Legal Dictionary of Pakistan
Quick lookup for English, Urdu, and Latin legal terms used in Pakistani jurisprudence.
Depositor
n. One who makes a deposit. See DEPOSIT.
Depository Trust Corporation
The principal central clearing agency for securities transactions on the public markets. - Abbr. DTC.
american depository receipt.
a receipt issued by an american bank as a substitute for stock shares in a foreign-based corporation. ( adrs are the most common method by which foreign companies secure american shareholders. companies that offer adrs maintain a stock listing in their domestic market in their domestic currency, while the adrs are held in u.s. dollars and listed on a u.s. stock exchange, usu. the new york stock exchange. - abbr. adr. -also termed american depositary receipt.
depository
n. A place where one leaves money or valuables for safekeeping <the grade school's depository for used books>. Cf DEPOSITARY.
depository bond
See BOND (2).
depository bond.
A bond given by a bank to protect a public body's deposits should the bank become insolvent.
depository institution
1. An organization formed under state or federal law, authorized by law to receive deposits, and supervised and examined by a government agency for the protection of depositors. 2. A trust company or other institution authorized by law to exercise fiduciary powers similar to those of a national bank. 0 The term does not include an insurance company, a Morris Plan bank, an industrial loan company, or similar bank unless its deposits are insured by a federal agency.
depository-transfer check
An unsigned nonnegotiable check that is used by a bank to transfer funds from its branch to the collection bank