State Savings Guarantee Corporation

Definition of "State savings guarantee corporation"

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Renee McElrath, Real Estate Agent NextHome Captial City Realty

State-sponsored insurance fund that was intended to guarantee deposits at state-chartered savings institutions. A handful of these funds existed in the early 1980s, but after a string of savings and loan failures in Maryland and Ohio in 1985, these funds were phased out and the member savings institutions converted to Federal Deposit Insurance.

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