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Nationally chartered banks are subject to the regulatory and supervisory authority of the
Beneficiary
An individual or entity entitled to receive benefits or assets from a trust, will, or life insurance policy.
Statutory Assignment
The transfer of rights or interests in a particular matter as authorized and regulated by statute.
Equitable Assignment
A transfer of rights or benefits from one party to another, recognized by equity courts even if not formally executed.
Vicarious Performance
A situation where an individual or entity performs a duty or obligation through another party, who acts on their behalf.
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