Question

What is a state-chartered bank?

A. A nonprofit state-run service that accepts deposits, makes loans, and provides
other financial services
B. A bank that receives its charter from the state in which it operates
C. A bank in which all of the shareholders are residents of the state in which it
operates
D. A bank in which all of a state's residents are shareholders

Answer 1

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Step-by-step explanation:

Answer 2

B. A bank that receives its charter from the state in which it operates

Step-by-step explanation:

This type of banks usually operate in one state, where they received their charter. They may apply or not to be a member bank in the Federal Reserve system. If they don´t, they operate only in their state and its regulated by state banking authorities.