Dictionary Home » Webster's New World Law Dictionary » building and loan association

building and loan association

building and loan association definition - legal

n

A quasi-public corporation to which its members contribute money that is loaned back to the members so they can buy or build homes. See also bank.

Webster's New World Law Dictionary Copyright © 2006 by Wiley Publishing, Inc., Hoboken, New Jersey.
Used by arrangement with John Wiley & Sons, Inc.

Comments
Improve this definition.
Do you have more to add? Share your linguistic knowledge or observation.
/Register to save your comments.