Legal Dictionary of Pakistan
Quick lookup for English, Urdu, and Latin legal terms used in Pakistani jurisprudence.
guaranty fund
A private deposit-insurance fund, raised primarily by assessments on banks, and used to pay the depositors of an insolvent bank. 0 Guaranty funds preceded the FDIC's federal-deposit insurance, which began in 1933, though many funds continued until the savings-and-loan crisis in the 1980s. Massachusetts has a guaranty fund for uninsured deposits (deposits above $100,000) that are not covered by federal-deposit insurance.
guaranty fund.
See FUND (1).