National and State Charters Are Available for All of the Following

question 4

Multiple Choice

National and state charters are available for all of the following except:

• A) credit unions.
• B) commercial banks.
• C) savings associations.
• D) Federal Reserve banks.
• E) National and state charters are available for all of the above.

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Definitions:

Pays

Refers to the act of giving money in exchange for goods, services, or to fulfill an obligation.

Representative Capacity

Acting on behalf of another person or entity, holding the authority to make decisions, enter agreements, or perform actions for them.

Holder In Due Course

A legal term for a party who has acquired a negotiable instrument in good faith and for consideration, and thus has certain protections against claims and defenses that could be raised against the original issuer.

Categorically States

Expresses or asserts something in a manner that is clear and unequivocal.