According to the NASAA Model Rules, which of the following institutions would not be considered a qualified custodian?

Question

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According to the NASAA Model Rules, a bank that is insured by a private, state-licensed insurance company would not be considered a qualified custodian. Registered broker-dealers, foreign financial institutions, and banks and savings institutions that are insured by the FDIC are on the list of qualified custodians.

According to the NASAA Model Rules, Which of the Following