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NORTH AMERICAN FUND MGT. CORP. v. F.D.I.C.

No. 92-5039.

991 F.2d 873 (1993)

NORTH AMERICAN FUND MANAGEMENT CORPORATION d/b/a Noramtrust U.S.A., et al., Appellants, v. FEDERAL DEPOSIT INSURANCE CORPORATION.

United States Court of Appeals, District of Columbia Circuit.

Decided May 7, 1993.

Attorney(s) appearing for the Case

Andrew T. Canfield, with whom Edward F. Canfield, Washington, DC, was on the brief, for appellants.

Thomas L. Holzman, Counsel, F.D.I.C., with whom Thomas A. Schulz, Asst. Gen. Counsel, and Colleen B. Bombardier, Senior Counsel, F.D.I.C., Washington, DC, were on the brief, for appellee.

Before: RUTH BADER GINSBURG, WILLIAMS and RANDOLPH, Circuit Judges.

Opinion for the Court filed by Circuit Judge STEPHEN F. WILLIAMS.

STEPHEN F. WILLIAMS, Circuit Judge:

The $100,000 limit on federal insurance of savings and loan accounts covers revocable trust accounts — accounts that a grantor typically sets up in his or her name for life, with a beneficiary to take at the grantor's death (so long as there has been no revocation in the meantime). In applying the $100,000 limit, the Federal Savings and Loan Insurance...

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