Part 700 Definitions
Part 701 Organization and Operation of Federal Credit Unions
Part 702 Capital Adequacy
Part 703 Investment and Deposit Activities
Part 704 Corporate Credit Unions
Part 705 Community Development Revolving Loan Fund Access for Credit Unions
Part 707 Truth in Savings
Part 708a Bank Conversions and Mergers
Part 708b Mergers of Insured Credit Unions Into Other Credit Unions; Voluntary Termination or Conversion of Insured Status
Part 709 Involuntary Liquidation of Federal Credit Unions and Adjudication of Creditor Claims Involving Federally Insured Credit Unions in Liquidation
Part 710 Voluntary Liquidation
Part 711 Management Official Interlocks
Part 712 Credit Union Service Organizations (Cusos)
Part 713 Fidelity Bond and Insurance Coverage for Federally Insured Credit Unions
Part 714 Leasing
Part 715 Supervisory Committee Audits and Verifications
Part 716 Privacy of Consumer Financial Information
Part 717 Fair Credit Reporting
Part 721 Incidental Powers
Part 722 Appraisals
Part 723 Member Business Loans; Commercial Lending
Part 724 Trustees and Custodians of Certain Tax-Advantaged Savings Plans
Part 725 National Credit Union Administration Central Liquidity Facility
Part 740 Accuracy of Advertising and Notice of Insured Status
Part 741 Requirements for Insurance
Part 745 Share Insurance and Appendix
Part 746 Appeals Procedures
Part 747 Administrative Actions, Adjudicative Hearings, Rules of Practice and Procedure, and Investigations
Part 748 Security Program, Report of Suspected Crimes, Suspicious Transactions, Catastrophic Acts and Bank Secrecy Act Compliance
Part 749 Records Preservation Program and Appendices-Record Retention Guidelines; Catastrophic Act Preparedness Guidelines
Part 750 Golden Parachute and Indemnification Payments
Part 760 Loans in Areas Having Special Flood Hazards
Part 761 Registration of Residential Mortgage Loan Originators

Terms Used In CFR > Title 12 > Chapter VII > Subchapter A

  • accounts: as used in this part mean share, share certificate or share draft accounts (or their equivalent under state law, as determined by the Board in the case of insured state-chartered credit unions) of a member (which includes other credit unions, public units and nonmembers where permitted under the Act) in a credit union of a type approved by the Board which evidences money or its equivalent received or held by a credit union in the usual course of business and for which it has given or is obligated to give credit to the account of the member. See 12 CFR 745.1
  • accounts: as used in this part means share, share certificate or share draft accounts (or their equivalent under state law, as determined by the Board in the case of insured state credit unions) of a member (which includes other credit unions, public units, and nonmembers where permitted under the Act) in a credit union of a type approved by the Board which evidences money or its equivalent received or held by a credit union in the usual course of business and for which it has given or is obligated to give credit to the account of the member. See 12 CFR 740.1
  • Acreage rent: means rent assessed for solar and wind energy development grants and leases that is determined by the number of acres authorized for the grant or lease. See 43 CFR 2801.5
  • Act: means the Federal Land Policy and Management Act of 1976 (43 U. See 43 CFR 2801.5
  • Act: means the Federal Credit Union Act (12 U. See 12 CFR 700.2
  • Act: means the National Flood Insurance Act of 1968, as amended (42 U. See 12 CFR 760.2
  • Act: means the Community Development Banking and Financial Institutions Act (12 U. See 12 CFR 1815.102
  • Adjusted trading: means any method or transaction whereby a corporate credit union sells a security to a vendor at a price above its current market price and simultaneously purchases or commits to purchase from the vendor another security at a price above its current market price. See 12 CFR 704.2
  • Administration: means the National Credit Union Administration. See 12 CFR 700.2
  • Administrative Committee: means the Administrative Committee of the Federal Register established under section 1506 of title 44, United States Code. See 1 CFR 1.1
  • Administrative law judge: means an administrative law judge appointed pursuant to the provisions of 5 U. See 49 CFR 1515.3
  • Administrator: means the Under Secretary of Transportation for Security identified in 49 U. See 49 CFR 1500.3
  • Administrator of FEMA: means the Administrator of the Federal Emergency Management Agency. See 12 CFR 760.2
  • Advertisement: as used in this part means a commercial message, in any medium, that is designed to attract public attention or patronage to a product or business. See 12 CFR 740.1
  • Affidavit: A written statement of facts confirmed by the oath of the party making it, before a notary or officer having authority to administer oaths.
  • Agency: means the U. See 45 CFR 707.3
  • Agency: means each authority, whether or not within or subject to review by another agency, of the United States, other than the Congress, the courts, the District of Columbia, the Commonwealth of Puerto Rico, and the territories and possessions of the United States. See 1 CFR 1.1
  • Agent: means an Agent member of the Facility. See 12 CFR 725.2
  • Agent group: means an Agent member of the Facility consisting of a group of corporate credit unions, one of which is designated as the group's Agent group representative and authorized to transact business with the Facility on behalf of the group or any member of the group. See 12 CFR 725.2
  • Agent loan: means an advance of funds by an Agent to a member natural person credit union to meet liquidity needs which have been the basis for a Facility advance. See 12 CFR 725.2
  • Air carrier: means a citizen of the United States who undertakes directly to engage in or provide air transportation. See 49 CFR 1510.3
  • Air transportation: means continental interstate air transportation, continental intrastate air transportation, foreign air transportation, non-continental interstate air transportation, or non-continental intrastate air transportation. See 49 CFR 1510.3
  • Aircraft: means a device that is used or intended to be used for flight in the air. See 49 CFR 1510.3
  • aircraft operator: means an aircraft operator subject to this part as described in §1544. See 49 CFR 1544.1
  • Aircraft operator: means a person who uses, causes to be used, or authorizes to be used an aircraft, with or without the right of legal control (as owner, lessee, or otherwise), for the purpose of air navigation including the piloting of aircraft, or on any part of the surface of an airport. See 49 CFR 1540.5
  • Aircraft simulator: means a flight simulator or flight training device, as those terms are defined at 14 CFR 61. See 49 CFR 1552.1
  • Airport: means any landing area used regularly by aircraft for receiving or discharging passengers or cargo. See 49 CFR 1510.3
  • Airport security program: means a security program approved by TSA under §1542. See 49 CFR 1540.5
  • Airport tenant: means any person, other than an aircraft operator or foreign air carrier that has a security program under part 1544 or 1546 of this chapter, that has an agreement with the airport operator to conduct business on airport property. See 49 CFR 1540.5
  • Airport tenant security program: means the agreement between the airport operator and an airport tenant that specifies the measures by which the tenant will perform security functions, and approved by TSA, under §1542. See 49 CFR 1540.5
  • Alien: means any person not a citizen or national of the United States. See 49 CFR 1552.1
  • Allegation: something that someone says happened.
  • Amortization: Paying off a loan by regular installments.
  • Annual percentage rate: The cost of credit at a yearly rate. It is calculated in a standard way, taking the average compound interest rate over the term of the loan so borrowers can compare loans. Lenders are required by law to disclose a card account's APR. Source: FDIC
  • Answer: The formal written statement by a defendant responding to a civil complaint and setting forth the grounds for defense.
  • Applicable state regulator: means the prudential state regulator of a state chartered corporate credit union. See 12 CFR 704.2
  • Applicant: means an individual who has applied for one of the security threat assessments identified in 49 CFR 1515. See 49 CFR 1515.3
  • Application: means a request for assistance from the Fund submitted pursuant to parts 1805 or 1806 of this chapter. See 12 CFR 1815.102
  • Assignment: means the transfer, in whole or in part, of any right or interest in a right-of-way grant or lease from the holder (assignor) to a subsequent party (assignee) with the BLM's written approval. See 43 CFR 2801.5
  • Attachment: A procedure by which a person's property is seized to pay judgments levied by the court.
  • Auxiliary aids: means services or devices that enable persons with impaired sensory, manual, or speaking skills to have an equal opportunity to participate in, and enjoy the benefits of, programs or activities conducted by the Agency. See 45 CFR 707.3
  • Available to cover losses that exceed retained earnings: means that the funds are available to cover operating losses realized, in accordance with generally accepted accounting principles (GAAP), by the corporate credit union that exceed retained earnings and equity acquired in a combination. See 12 CFR 704.2
  • Average daily balance: The average daily balance over the calendar quarter. See 12 CFR 702.2
  • Base rent: means the dollar amount required from a grant or lease holder on BLM managed lands based on the communication use with the highest value in the associated facility or facilities, as calculated according to the communication use rent schedule. See 43 CFR 2801.5
  • Benefit plan: means any employee benefit plan, contract, agreement or other arrangement subject to the requirements in §701. See 12 CFR 750.1
  • BLM: means the Bureau of Land Management. See 43 CFR 2801.5
  • Building: means a walled and roofed structure, other than a gas or liquid storage tank, that is principally above ground and affixed to a permanent site, and a walled and roofed structure while in the course of construction, alteration, or repair. See 12 CFR 760.2
  • Candidate: means an alien or other individual designated by TSA who applies for flight training or recurrent training. See 49 CFR 1552.1
  • Cargo: means property tendered for air transportation accounted for on an air waybill. See 49 CFR 1540.5
  • Central Liquidity Facility: means the National Credit Union Administration Central Liquidity Facility. See 12 CFR 725.2
  • CEQ regulations: means the regulations for implementing the procedural provisions of the National Environmental Policy Act of 1969 as promulgated by the Council on Environmental Quality, Executive Office of the President, appearing at 40 CFR parts 1500-1508 and to which this part is a supplement. See 12 CFR 1815.102
  • certified cargo screening facility: refers to the legal entity that operates a CCSF at a particular location. See 49 CFR 1540.5
  • Chambers: A judge's office.
  • Charity: An agency, institution, or organization in existence and operating for the benefit of an indefinite number of persons and conducted for educational, religious, scientific, medical, or other beneficent purposes.
  • Checked baggage: means property tendered by or on behalf of a passenger and accepted by an aircraft operator for transport, which is inaccessible to passengers during flight. See 49 CFR 1540.5
  • Clear and conspicuous: means text in bold type in a font size at least one size larger than any other text used in the document (exclusive of headings), but in no event smaller than 12 point. See 12 CFR 708a.101
  • CLF-related bridge loan: means interim financing, extending up to ten business days, that a corporate credit union provides for a natural person credit union from the time the CLF approves a loan to the natural person credit union until the CLF funds the loan. See 12 CFR 704.2
  • Common law: The legal system that originated in England and is now in use in the United States. It is based on judicial decisions rather than legislative action.
  • Communication use rent schedule: is a schedule of rents for the following types of communication uses, including related technologies, located in a facility associated with a particular grant or lease. See 43 CFR 2801.5
  • Community: means a State or a political subdivision of a State that has zoning and building code jurisdiction over a particular area having special flood hazards. See 12 CFR 760.2
  • Compensation: means all salaries, fees, wages, bonuses, severance payments, current year contributions to employee benefit plans (for example, medical, dental, life insurance, and disability), current year contributions to deferred compensation plans and future severance payments, including payments in connection with a merger or similar combination (whether or not funded. See 12 CFR 704.2
  • Complete complaint: means a written statement that contains the complainant's name and address and describes the Agency's alleged discriminatory action in sufficient detail to inform the Agency of the nature and date of the alleged violation of section 504. See 45 CFR 707.3
  • Comprehensive Business Plan: means a document submitted as part of an Application pursuant to part 1805 of this chapter which describes an organization's proposed process for offering products or services to a particular market, including organizational requirements needed to serve that market effectively. See 12 CFR 1815.102
  • Consumer Loans: means loans to one or more individuals for household, family or other personal expenditures. See 12 CFR 1815.102
  • Continental interstate air transportation: means the carriage by aircraft of persons for compensation or hire within the continental United States. See 49 CFR 1510.3
  • Continental intrastate air transportation: means the carriage by aircraft of persons for compensation or hire wholly within the same state of the continental United States. See 49 CFR 1510.3
  • Continuance: Putting off of a hearing ot trial until a later time.
  • Continuing credit union: means the credit union that will continue in operation after the merger. See 12 CFR 708b.2
  • Contributed capital: means either perpetual or nonperpetual capital. See 12 CFR 704.2
  • Corporate credit union: means an organization that:

    (1) Is chartered under Federal or state law as a credit union. See 12 CFR 704.2

  • Corporate credit union: means a Federal or state-chartered credit union primarily serving other credit unions. See 12 CFR 725.2
  • Covered person: means the chief executive officer or manager (or a person acting in a similar capacity). See 12 CFR 708b.2
  • Credit Score: A number, roughly between 300 and 800, that measures an individual's credit worthiness. The most well-known type of credit score is the FICO score. This score represents the answer from a mathematical formula that assigns numerical values to various pieces of information in your credit report. Source: OCC
  • Credit union: means a federally insured, natural person credit union, whether federally- or State-chartered, as defined by 12 U. See 12 CFR 702.2
  • Credit union: means a nonprofit financial cooperative chartered under the Federal Credit Union Act or under the laws of any State, the District of Columbia, the several territories and possessions of the United States, or the Commonwealth of Puerto Rico, which laws provide for the organization of financial cooperatives similar in principle and objectives to cooperatives chartered under the Federal Credit Union Act. See 12 CFR 700.2
  • Credit union: means a Federal or State-chartered credit union that is insured by the National Credit Union Share Insurance Fund. See 12 CFR 760.2
  • Critical accounting policies: means those policies that are most important to the portrayal of a corporate credit union's financial condition and results and that require management's most difficult, subjective, or complex judgments, often as a result of the need to make estimates about the effect of matters that are inherently uncertain. See 12 CFR 704.2
  • CUSO: means a credit union service organization as described in 12 CFR 712 et seq. See 12 CFR 702.2
  • Customer: means an occupant who is paying a facility manager, facility owner, or tenant for using all or any part of the space in the facility, or for communication services, and is not selling communication services or broadcasting to others. See 43 CFR 2801.5
  • Daily average net assets: means the average of net assets calculated for each day during the period. See 12 CFR 704.2
  • Day: means calendar day. See 49 CFR 1515.3
  • Day: means a day from Monday through Friday, including State and local holidays but not Federal holidays, for any time period less than 11 days specified in this part. See 49 CFR 1552.1
  • Day: means calendar day. See 49 CFR 1572.400
  • Decisionmaker: means the Director of the Fund, unless an appropriate delegation of authority has been made. See 12 CFR 1815.102
  • Deed: The legal instrument used to transfer title in real property from one person to another.
  • Definitions: As used in this part, the term:

    (1) Application carries the meaning of that term as defined in 12 CFR 1002. See 12 CFR 701.31

  • Demonstration flight for marketing purposes: means a flight for the purpose of demonstrating an aircraft's or aircraft simulator's capabilities or characteristics to a potential purchaser, or to an agent of a potential purchaser, of the aircraft or simulator, including an acceptance flight after an aircraft manufacturer delivers an aircraft to a purchaser. See 49 CFR 1552.1
  • Deposition: An oral statement made before an officer authorized by law to administer oaths. Such statements are often taken to examine potential witnesses, to obtain discovery, or to be used later in trial.
  • Derivatives: means a financial contract which derives its value from the value and performance of some other underlying financial instrument or variable, such as an index or interest rate. See 12 CFR 704.2
  • Designated loan: means a loan secured by a building or mobile home that is located or to be located in a special flood hazard area in which flood insurance is available under the Act. See 12 CFR 760.2
  • Devise: To gift property by will.
  • Direct costs: means the expense actually expended to search, review, or duplicate in response to a FOIA request. See 21 CFR 1401.3
  • Dismissal: The dropping of a case by the judge without further consideration or hearing. Source:
  • Docket: A log containing brief entries of court proceedings.
  • Document: includes any Presidential proclamation or Executive order, and any rule, regulation, order, certificate, code of fair competition, license, notice, or similar instrument issued, prescribed, or promulgated by an agency. See 1 CFR 1.1
  • Duplicate: means the process of making a copy of a document. See 21 CFR 1401.3
  • EIS: means an environmental impact statement as defined in 40 CFR 1508. See 12 CFR 1815.102
  • Electronic funds transfer: The transfer of money between accounts by consumer electronic systems-such as automated teller machines (ATMs) and electronic payment of bills-rather than by check or cash. (Wire transfers, checks, drafts, and paper instruments do not fall into this category.) Source: OCC
  • Embedded option: means a characteristic of certain assets and liabilities which gives the issuer of the instrument the ability to change the features such as final maturity, rate, principal amount and average life. See 12 CFR 704.2
  • Embezzlement: In most states, embezzlement is defined as theft/larceny of assets (money or property) by a person in a position of trust or responsibility over those assets. Embezzlement typically occurs in the employment and corporate settings. Source: OCC
  • Enterprise risk management: means the process of addressing risk on an entity-wide basis. See 12 CFR 704.2
  • Equal Credit Opportunity Act: Prohibits creditors from discriminating against credit applicants on the basis of race, color, religion, national origin, sex, marital status, age, or because an applicant receives income from a public assistance program. Source: OCC
  • Equity security: means any security representing an ownership interest in an enterprise (for example, common, preferred, or other capital stock) or the right to acquire (for example, warrants and call options) or dispose of (for example, put options) an ownership interest in an enterprise at fixed or determinable prices. See 12 CFR 704.2
  • Escort: means to accompany or monitor the activities of an individual who does not have unescorted access authority into or within a secured area or SIDA. See 49 CFR 1540.5
  • Escrow: Money given to a third party to be held for payment until certain conditions are met.
  • Examination of internal control: means an engagement of an independent public accountant to report directly on internal control or on management's assertions about internal control. See 12 CFR 704.2
  • Exceptions: The term golden parachute payment does not include:

    (i) Any payment made pursuant to a deferred compensation plan under section 457(b) of the Internal Revenue Code of 1986, 26 U. See 12 CFR 750.1

  • Exclusive area: means any portion of a secured area, AOA, or SIDA, including individual access points, for which an aircraft operator or foreign air carrier that has a security program under part 1544 or 1546 of this chapter has assumed responsibility under §1542. See 49 CFR 1540.5
  • Exclusive area agreement: means an agreement between the airport operator and an aircraft operator or a foreign air carrier that has a security program under parts 1544 or 1546 of this chapter that permits such an aircraft operator or foreign air carrier to assume responsibility for specified security measures in accordance with §1542. See 49 CFR 1540.5
  • Executive session: A portion of the Senate's daily session in which it considers executive business.
  • FAA: means the Federal Aviation Administration. See 49 CFR 1540.5
  • Facility: means an improvement or structure, whether existing or planned, that is or would be owned and controlled by the grant or lease holder within a right-of-way. See 43 CFR 2801.5
  • Facility: means all or any portion of buildings, structures, equipment, roads, walks, parking lots, vehicles, or other real or personal property. See 45 CFR 707.3
  • Facility advance: means an advance of funds by the Facility to a Regular or Agent member. See 12 CFR 725.2
  • Facility lending officer: means any employee of the Facility or the National Credit Union Administration who has been designated by the NCUA Board as a Facility lending officer. See 12 CFR 725.2
  • Facility manager: means a person or entity that leases space in a facility to communication users and:

    (1) Holds a communication use grant or lease. See 43 CFR 2801.5

  • Facility owner: means a person or entity that may or may not lease space in a facility to communication users and:

    (1) Holds a communication use grant or lease. See 43 CFR 2801.5

  • Fair Credit Reporting Act: A federal law, established in 1971 and revised in 1997, that gives consumers the right to see their credit records and correct any mistakes. Source: OCC
  • Fair market value: The price at which an asset would change hands in a transaction between a willing, informed buyer and a willing, informed seller.
  • Fair value: means the price that would be received to sell an asset, or paid to transfer a liability, in an orderly transaction between market participants at the measurement date, as defined by GAAP. See 12 CFR 704.2
  • FAST: means Free and Secure Trade program of the Bureau of Customs and Border Protection (CBP), a cooperative effort between CBP and the governments of Canada and Mexico to coordinate processes for the clearance of commercial shipments at the border. See 49 CFR 1572.201
  • FBI Fee: means the fee required for the cost of the Federal Bureau of Investigation (FBI) to process fingerprint records. See 49 CFR 1572.400
  • Federal funds transaction: means a short-term or open-ended unsecured transfer of immediately available funds by one depository institution to another depository institution or entity. See 12 CFR 704.2
  • Federal Reserve System: The central bank of the United States. The Fed, as it is commonly called, regulates the U.S. monetary and financial system. The Federal Reserve System is composed of a central governmental agency in Washington, D.C. (the Board of Governors) and twelve regional Federal Reserve Banks in major cities throughout the United States. Source: OCC
  • Federally insured: means insured by the National Credit Union Administration (NCUA) through the National Credit Union Share Insurance Fund (NCUSIF). See 12 CFR 708b.2
  • Federally insured credit union: means any credit union whose member accounts are insured by NCUA according to the provisions of Title II of the Federal Credit Union Act (12 U. See 12 CFR 700.2
  • federally insured credit union: means a Federal credit union, state chartered credit union, or corporate credit union the member accounts of which are insured under the Act. See 12 CFR 750.1
  • Felony: A crime carrying a penalty of more than a year in prison.
  • Fiduciary: A trustee, executor, or administrator.
  • Filing: means making a document available for public inspection at the Office of the Federal Register during official business hours. See 1 CFR 1.1
  • Filing: means an application or notice submitted to the OCC under this part. See 12 CFR 5.3
  • Final Agency Order: means an order issued by the TSA Final Decision Maker. See 49 CFR 1515.3
  • Financial statement audit: means an audit of the financial statements of a corporate credit union performed in accordance with generally accepted auditing standards by an independent person who is licensed by the appropriate State or jurisdiction. See 12 CFR 704.2
  • Financial statements: means the presentation of a corporate credit union's financial data, including accompanying notes, derived from accounting records of the credit union, and intended to disclose the credit union's economic resources or obligations at a point in time, or the changes therein for a period of time, in conformity with GAAP. See 12 CFR 704.2
  • Financial statements: refers to a presentation of financial data, including accompanying notes, derived from accounting records of the credit union, and intended to disclose a credit union's economic resources or obligations at a point in time, or the changes therein for a period of time, in conformity with GAAP, as defined herein, or regulatory accounting procedures. See 12 CFR 715.2
  • Fixed Rate: Having a "fixed" rate means that the APR doesn't change based on fluctuations of some external rate (such as the "Prime Rate"). In other words, a fixed rate is a rate that is not a variable rate. A fixed APR can change over time, in several circumstances:
    • You are late making a payment or commit some other default, triggering an increase to a penalty rate
    • The bank changes the terms of your account and you do not reject the change.
    • The rate expires (if the rate was fixed for only a certain period of time).
  • Flight school: means any pilot school, flight training center, air carrier flight training facility, or flight instructor certificated under 14 CFR part 61, 121, 135, 141, or 142. See 49 CFR 1552.1
  • Flight school employee: means a flight instructor or ground instructor certificated under 14 CFR part 61, 141, or 142. See 49 CFR 1552.21
  • Flight training: means instruction received from a flight school in an aircraft or aircraft simulator. See 49 CFR 1552.1
  • Flightcrew member: means a pilot, flight engineer, or flight navigator assigned to duty in an aircraft during flight time. See 49 CFR 1540.5
  • Foreclosure: A legal process in which property that is collateral or security for a loan may be sold to help repay the loan when the loan is in default. Source: OCC
  • Foreign air carrier: means any person other than a citizen of the United States who undertakes directly to engage in or provide air transportation. See 49 CFR 1510.3
  • Foreign air transportation: means the carriage by aircraft of persons for compensation or hire between a place in the United States and any place outside of the United States. See 49 CFR 1510.3
  • Freedom of Information Act: A federal law that mandates that all the records created and kept by federal agencies in the executive branch of government must be open for public inspection and copying. The only exceptions are those records that fall into one of nine exempted categories listed in the statute. Source: OCC
  • Frequent flyer award: means a zero-fare award of air transportation that a domestic air carrier or foreign air carrier provides to a passenger in exchange for accumulated travel mileage credits in a customer loyalty program, whether or not the term frequent flyer is used in the definition of that program. See 49 CFR 1510.3
  • Fund: means the Community Development Financial Institutions Fund, established under section 104(a) of the Act (12 U. See 12 CFR 1815.102
  • GAAP: is an acronym for "generally accepted accounting principles" which refers to the conventions, rules, and procedures which define accepted accounting practice. See 12 CFR 715.2
  • GAAS: is an acronym for "generally accepted auditing standards" which refers to the standards approved and adopted by the American Institute of Certified Public Accountants which apply when an "independent, licensed certified public accountant" audits financial statements. See 12 CFR 715.2
  • Garnishment: Generally, garnishment is a court proceeding in which a creditor asks a court to order a third party who owes money to the debtor or otherwise holds assets belonging to the debtor to turn over to the creditor any of the debtor
  • golden parachute payment: means any payment or any agreement to make any payment in the nature of compensation by any federally insured credit union for the benefit of any current or former IAP pursuant to an obligation of the credit union that:

    (i) Is contingent on, or by its terms is payable on or after, the termination of the party's primary employment or affiliation with the credit union. See 12 CFR 750.1

  • Grace period: The number of days you'll have to pay your bill for purchases in full without triggering a finance charge. Source: Federal Reserve
  • Grant: means any authorization or instrument (e. See 43 CFR 2801.5
  • Grantor: The person who establishes a trust and places property into it.
  • Ground training: means classroom or computer-based instruction in the operation of aircraft, aircraft systems, or cockpit procedures. See 49 CFR 1552.1
  • Guarantor: A party who agrees to be responsible for the payment of another party's debts should that party default. Source: OCC
  • Guidelines: (1) Compliance with the Fair Housing Act is achieved when each loan applicant's creditworthiness is evaluated on an individual basis, without presuming that the applicant has certain characteristics of a group. See 12 CFR 701.31
  • Hazardous materials: means material that has been designated as hazardous under 49 U. See 49 CFR 1572.201
  • Holder: means any entity with a BLM right-of-way authorization. See 43 CFR 2801.5
  • Hours per year: means the total number of hours in a year, which, for purposes of this part, means 8,760 hours. See 43 CFR 2801.5
  • Immediate family member: means a spouse or other family member living in the same household. See 12 CFR 704.2
  • Indemnification: In general, a collateral contract or assurance under which one person agrees to secure another person against either anticipated financial losses or potential adverse legal consequences. Source: FDIC
  • Independent: means the impartiality necessary for the dependability of the compensated auditor's findings. See 12 CFR 715.2
  • Independent entity: means a company with experience in conducting corporate elections. See 12 CFR 708b.2
  • Independent entity: means a company with experience in conducting corporate elections. See 12 CFR 708a.101
  • Indictment: The formal charge issued by a grand jury stating that there is enough evidence that the defendant committed the crime to justify having a trial; it is used primarily for felonies.
  • Individual with disabilities: means any person who has a physical or mental impairment that substantially limits one or more major life activities, has a record of such an impairment, or is regarded as having such an impairment. See 45 CFR 707.3
  • Information Collection Fee: means the fee required, in this part, for the cost of collecting and transmitting fingerprints and other applicant information under 49 CFR part 1572. See 49 CFR 1572.400
  • Insolvency: (1) A credit union will be determined to be insolvent when the total amount of its shares exceeds the present cash value of its assets after providing for liabilities unless:

    (i) It is determined by the Board that the facts that caused the deficient share-asset ratio no longer exist. See 12 CFR 700.2

  • insured: refer to primary share or deposit insurance. See 12 CFR 708b.2
  • insured credit union: means a credit union whose accounts are insured by the National Credit Union Share Insurance Fund (NCUSIF). See 12 CFR 741.0
  • Intangible assets: means assets considered to be intangible assets under GAAP. See 12 CFR 704.2
  • Inter vivos: Transfer of property from one living person to another living person.
  • Interest rate: The amount paid by a borrower to a lender in exchange for the use of the lender's money for a certain period of time. Interest is paid on loans or on debt instruments, such as notes or bonds, either at regular intervals or as part of a lump sum payment when the issue matures. Source: OCC
  • Internal control: means the process, established by the corporate credit union's board of directors, officers and employees, designed to provide reasonable assurance of reliable financial reporting and safeguarding of assets against unauthorized acquisition, use, or disposition. See 12 CFR 704.2
  • Internal control: refers to the process, established by the credit union's board of directors, officers and employees, designed to provide reasonable assurance of reliable financial reporting and safeguarding of assets against unauthorized acquisition, use, or disposition. See 12 CFR 715.2
  • Internal control framework: means criteria such as that established in Internal Control--Integrated Framework, issued by the Committee of Sponsoring Organizations of the Treadway Commission (COSO), or comparable, reasonable, and U. See 12 CFR 704.2
  • Internal control over financial reporting: means a process effected by those charged with governance, management, and other personnel, designed to provide reasonable assurance regarding the preparation of reliable financial statements in accordance with accounting principles generally accepted in the United States of America. See 12 CFR 704.2
  • Interrogatories: Written questions asked by one party of an opposing party, who must answer them in writing under oath; a discovery device in a lawsuit.
  • IPD-GDP: means the Implicit Price Deflator, Gross Domestic Product, as published in the most recent edition of the Survey of Current Business of the Department of Commerce, Bureau of Economic Analysis. See 43 CFR 2801.5
  • Irrevocable trust: A trust arrangement that cannot be revoked, rescinded, or repealed by the grantor.
  • Jurisprudence: The study of law and the structure of the legal system.
  • Leverage ratio: means the ratio of Tier 1 capital to moving daily average net assets. See 12 CFR 704.2
  • Liabilities: Recorded liabilities which are due and payable, excluding shares of members and non-members, are considered liabilities. See 12 CFR 700.2
  • Life estate: A property interest limited in duration to the life of the individual holding the interest (life tenant).
  • Liquidity needs: means the needs of credit unions for:

    (1) Short-term adjustment credit available to assist in meeting temporary requirements for funds or to cushion more persistent outflows of funds pending an orderly adjustment of credit union assets and liabilities. See 12 CFR 725.2

  • Mail: includes U. See 49 CFR 1515.3
  • Management policies: means policies of a credit union with respect to membership, shares, deposits, dividends, interest rates, lending, investing, borrowing, safeguarding of assets, hiring, training and supervision of employees, and general operating and control practices and procedures. See 12 CFR 725.2
  • Markup: The process by which congressional committees and subcommittees debate, amend, and rewrite proposed legislation.
  • Member: means a Regular or Agent member of the Facility, unless the context indicates otherwise. See 12 CFR 725.2
  • Member natural person credit union: means a natural person credit union which is a member of an Agent or of any corporate credit union in an Agent group. See 12 CFR 725.2
  • members: as used in this part mean those persons enumerated in the credit union's field of membership who have been elected to membership in accordance with the Act or state law in the case of state-chartered credit unions. See 12 CFR 745.1
  • merger: includes any purported conversion of a credit union to a bank if the purported conversion is conducted pursuant to an agreement between a preexisting bank and the credit union that provides--

    (1) The credit union will not conduct business as a stand-alone bank, and

    (2) The purported conversion will be followed by the transfer of all, or substantially all, of the credit union's assets to the preexisting bank. See 12 CFR 708a.301

  • Merger-related financial arrangement: means a material increase in compensation or benefits because of, or in anticipation of, a merger that any covered person of a merging credit union has received during the 24 months before the date the boards of directors of both credit unions approve the merger plan. See 12 CFR 708b.2
  • Merging credit union: means the credit union that will cease to exist as an operating credit union at the time of the merger. See 12 CFR 708b.2
  • Microwave: means communication uses that:

    (i) Provide long-line intrastate and interstate public telephone, television, and data transmissions. See 43 CFR 2801.5

  • Minimal amount of credit risk: means the amount of credit risk when the issuer of a security has a very strong capacity to meet all financial commitments under the security for the projected life of the asset or exposure, even under adverse economic conditions. See 12 CFR 704.2
  • Misdemeanor: Usually a petty offense, a less serious crime than a felony, punishable by less than a year of confinement.
  • mobile home: includes a manufactured home as that term is used in the NFIP. See 12 CFR 760.2
  • Monitoring: means those actions the Federal government performs to ensure compliance with the terms, conditions, and stipulations of a grant. See 43 CFR 2801.5
  • Mortgage loan: A loan made by a lender to a borrower for the financing of real property. Source: OCC
  • Moving daily average net assets: means the average of daily average net assets for the month being measured and the previous eleven (11) months. See 12 CFR 704.2
  • Moving monthly average net risk-weighted assets: means the average of the net risk-weighted assets for the month being measured and the previous eleven (11) months. See 12 CFR 704.2
  • Mutual aid society: means an organization--

    (1) Whose members share a common religious, charitable, educational, or fraternal bond. See 12 CFR 760.2

  • Mutual combination: means a transaction or event in which a corporate credit union acquires another credit union, or acquires an integrated set of activities and assets that is capable of being conducted and managed as a credit union. See 12 CFR 704.2
  • National Bank: A bank that is subject to the supervision of the Comptroller of the Currency. The Office of the Comptroller of the Currency is a bureau of the U.S. Treasury Department. A national bank can be recognized because it must have "national" or "national association" in its name. Source: OCC
  • National Credit Union Administration: The federal regulatory agency that charters and supervises federal credit unions. (NCUA also administers the National Credit Union Share Insurance Fund, which insures the deposits of federal credit unions.) Source: OCC
  • Natural person credit union: means a Federal or state-chartered credit union primarily serving natural persons. See 12 CFR 725.2
  • NCUA: means NCUA Board (Board), unless the particular action has been delegated by the Board. See 12 CFR 704.2
  • NCUA: refers to the National Credit Union Administration. See 12 CFR 700.2
  • NCUA: means the National Credit Union Administration. See 12 CFR 750.1
  • NCUA Board: refer to the Board of the National Credit Union Administration. See 12 CFR 700.2
  • NCUSIF: means the National Credit Union Share Insurance Fund as defined by 12 U. See 12 CFR 702.2
  • NEPA: means the National Environmental Policy Act, as amended, 42 U. See 12 CFR 1815.102
  • Net assets: means total assets less Central Liquidity Facility (CLF) stock subscriptions, CLF-related bridge loans, loans guaranteed by the National Credit Union Share Insurance Fund (NCUSIF), and member reverse repurchase transactions. See 12 CFR 704.2
  • Net capacity factor: means the average operational time divided by the average potential operational time of a solar or wind energy development, multiplied by the current technology efficiency rates. See 43 CFR 2801.5
  • Net interest margin security: means a security collateralized by residual interests in collateralized mortgage obligations, residual interests in real estate mortgage investment conduits, or residual interests in other asset-backed securities. See 12 CFR 704.2
  • Net Worth: means (1) The retained earnings balance of the credit union at quarter-end as determined under generally accepted accounting principles, subject to paragraph (f)(3) of this section. See 12 CFR 702.2
  • Net worth: Unless otherwise noted, the term "net worth" as applied to credit unions, has the same meaning as set forth in §702. See 12 CFR 700.2
  • Net worth ratio: means the ratio of the net worth of the credit union (as defined in paragraph (f) of this section) to the total assets of the credit union (as defined by a measure chosen under paragraph (j) of this section). See 12 CFR 702.2
  • New credit union: means a federally insured credit union which both has been in operation for less than ten (10) years and has $10,000,000 or less in total assets. See 12 CFR 702.2
  • NFIP: means the National Flood Insurance Program authorized under the Act. See 12 CFR 760.2
  • Nolo contendere: No contest-has the same effect as a plea of guilty, as far as the criminal sentence is concerned, but may not be considered as an admission of guilt for any other purpose.
  • Non-continental interstate air transportation: means the carriage by aircraft of persons for compensation or hire within the United States, but outside the continental United States. See 49 CFR 1510.3
  • Non-continental intrastate air transportation: means the carriage by aircraft of persons for compensation or hire wholly within the same state, territory or possession of the United States, but outside the continental United States. See 49 CFR 1510.3
  • Nondiscriminatory: means that the plan, contract or arrangement applies to all employees of a federally insured credit union who meet reasonable and customary eligibility requirements applicable to all employees, such as minimum length of service requirements. See 12 CFR 750.1
  • Nonfederally insured: means insured by a private or cooperative insurance fund or guaranty corporation organized or chartered under state or territorial law. See 12 CFR 708b.2
  • Nonfederally insured credit union: as used in this part means a credit union with either no account insurance or with primary account insurance provided by some entity other than the National Credit Union Administration. See 12 CFR 740.1
  • Noninsured credit union: means a credit union chartered under the laws of any State, the District of Columbia, the several territories and possessions of the United States, the Panama Canal Zone, or the Commonwealth of Puerto Rico, whose member accounts are not insured by NCUA. See 12 CFR 700.2
  • Nonperpetual capital: means funds contributed by members or nonmembers that: are term certificates with an original minimum term of five years or that have an indefinite term (i. See 12 CFR 704.2
  • NPR-A: means the area formerly within Naval Petroleum Reserve Numbered 4 Alaska which was redesignated as the National Petroleum Reserve--Alaska by the Naval Petroleum Reserves Production Act of 1976 (42 U. See 43 CFR 3130.0-5
  • Oath: A promise to tell the truth.
  • Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
  • Obligor: means the primary party obligated to repay an investment, e. See 12 CFR 704.2
  • Official: means any director or committee member. See 12 CFR 704.2
  • One-way trip: means continuous air transportation, during which a stopover does not occur. See 49 CFR 1510.3
  • Oral argument: An opportunity for lawyers to summarize their position before the court and also to answer the judges' questions.
  • Origin point: means the location at which a trip on a complete air travel itinerary begins. See 49 CFR 1510.3
  • Oversight: Committee review of the activities of a Federal agency or program.
  • Paid-in and unimpaired capital and surplus: means shares and deposits plus post-closing, undivided earnings. See 12 CFR 725.2
  • Pair-off transaction: means a security purchase transaction that is closed out or sold at, or prior to, the settlement or expiration date. See 12 CFR 704.2
  • Party: means the applicant or the agency attorney. See 49 CFR 1515.3
  • Passenger seating configuration: means the total maximum number of seats for which the aircraft is type certificated that can be made available for passenger use aboard a flight, regardless of the number of seats actually installed, and includes that seat in certain aircraft that may be used by a representative of the FAA to conduct flight checks but is available for revenue purposes on other occasions. See 49 CFR 1540.5
  • Person: means an individual, corporation, company, association, firm, partnership, society, joint-stock company, or governmental authority. See 49 CFR 1500.3
  • Personal delivery: includes hand-delivery or use of a contract or express messenger service, but does not include the use of Government interoffice mail service. See 49 CFR 1515.3
  • Plea: In a criminal case, the defendant's statement pleading "guilty" or "not guilty" in answer to the charges, a declaration made in open court.
  • Pleadings: Written statements of the parties in a civil case of their positions. In the federal courts, the principal pleadings are the complaint and the answer.
  • political subdivision: includes any subdivision of a public unit, as defined in paragraph (c) of this section, or any principal department of such public unit, (1) the creation of which subdivision or department has been expressly authorized by state statute, (2) to which some functions of government have been delegated by state statute, and (3) to which funds have been allocated by statute or ordinance for its exclusive use and control. See 12 CFR 745.1
  • Precedent: A court decision in an earlier case with facts and law similar to a dispute currently before a court. Precedent will ordinarily govern the decision of a later similar case, unless a party can show that it was wrongly decided or that it differed in some significant way.
  • Presiding officer: A majority-party Senator who presides over the Senate and is charged with maintaining order and decorum, recognizing Members to speak, and interpreting the Senate's rules, practices and precedents.
  • Principal: means the aggregate amount of all passenger security services fees due to be remitted to the Transportation Security Administration by an air carrier as required by this part. See 49 CFR 1510.3
  • Private charter: means any aircraft operator flight--

    (1) For which the charterer engages the total passenger capacity of the aircraft for the carriage of passengers. See 49 CFR 1540.5

  • Private flood insurance: means an insurance policy that:

    (1) Is issued by an insurance company that is:

    (i) Licensed, admitted, or otherwise approved to engage in the business of insurance by the insurance regulator of the State or jurisdiction in which the property to be insured is located. See 12 CFR 760.2

  • Private label security: means a security that is not issued or guaranteed by the U. See 12 CFR 704.2
  • Private law: A private bill enacted into law. Private laws have restricted applicability, often addressing immigration and naturalization issues affecting individuals.
  • Project: means all closely related actions relating to a specific site. See 12 CFR 1815.102
  • Public charter: means any charter flight that is not a private charter. See 49 CFR 1540.5
  • Public lands: means any land and interest in land owned by the United States within the several states and administered by the Secretary of the Interior through BLM without regard to how the United States acquired ownership, except lands:

    (1) Located on the Outer Continental Shelf. See 43 CFR 2801.5

  • public unit: means the United States, any state of the United States, the District of Columbia, the Commonwealth of Puerto Rico, the Panama Canal Zone, any territory or possession of the United States, any county, municipality, or political subdivision thereof, or any Indian tribe as defined in section 3(c) of the Indian Financing Act of 1974. See 12 CFR 745.1
  • Quarter-end balance: The quarter-end balance of the calendar quarter as reported on the credit union's Call Report. See 12 CFR 702.2
  • Quorum: The number of legislators that must be present to do business.
  • Quoted market price: means a recent sales price or a price based on current bid and asked quotations. See 12 CFR 704.2
  • Rate of return: means the relationship of income (to the property owner) to revenue generated from authorized solar and wind energy development facilities based on the 10-year average of the 20-year U. See 43 CFR 2801.5
  • Real estate-related loan: means any loan for which application is made to finance or refinance the purchase, construction, improvement, repair, or maintenance of a dwelling. See 12 CFR 701.31
  • Recess: A temporary interruption of the legislative business.
  • Record: means information regardless of its physical form or characteristics including information created, stored, and retrievable by electronic means that is created or obtained by the Agency and under the control of the Agency at the time of the request, including information maintained for the Agency by an entity under Government contract for records management purposes. See 22 CFR 212.16
  • Record date: means a date announced by the board of directors of a merging credit union as the date by which a person must have been a member of the merging credit union to be eligible to vote on a proposed merger. See 12 CFR 708b.2
  • Recourse: An arrangement in which a bank retains, in form or in substance, any credit risk directly or indirectly associated with an asset it has sold (in accordance with generally accepted accounting principles) that exceeds a pro rata share of the bank's claim on the asset. If a bank has no claim on an asset it has sold, then the retention of any credit risk is recourse. Source: FDIC
  • Recurrent training: means periodic training required under 14 CFR part 61, 121,125, 135, or Subpart K of part 91. See 49 CFR 1552.1
  • Regional Director: means the representative of NCUA in the designated geographical area in which the office of the federally insured credit union is located or, for federally insured credit unions with $10 billion or more in assets, the Director of the Office of National Examinations and Supervision. See 12 CFR 700.2
  • Regional Director: means either the director for the NCUA Regional Office for the region where a natural person credit union's main office is located or the director of the NCUA's Office of Credit Union Resources and Expansion. See 12 CFR 708a.101
  • Regional Director: means either the director for the NCUA Regional Office for the region where a natural person credit union's main office is located or the director of the NCUA's Office of Credit Union Resources and Expansion. See 12 CFR 708b.2
  • Regional Office: means the office of NCUA located in the designated geographical areas in which the office of the federally insured credit union is located or, for federally insured credit unions with $10 billion or more in assets, the Office of National Examinations and Supervision. See 12 CFR 700.2
  • Reportable conditions: refers to a matter coming to the attention of the independent, compensated auditor which, in his or her judgment, represents a significant deficiency in the design or operation of the internal control structure of the credit union, which could adversely affect its ability to record, process, summarize, and report financial data consistent with the representations of management in the financial statements. See 12 CFR 715.2
  • Reporter: Makes a record of court proceedings and prepares a transcript, and also publishes the court's opinions or decisions (in the courts of appeals).
  • Repurchase transaction: means a transaction in which a corporate credit union agrees to purchase a security from a counterparty and to resell the same or any identical security to that counterparty at a specified future date and at a specified price. See 12 CFR 704.2
  • Request: means a letter or other written communication seeking records or information under FOIA. See 21 CFR 1401.3
  • Residential improved real estate: means real estate upon which a home or other residential building is located or to be located. See 12 CFR 760.2
  • Residential properties: means houses, condominiums, cooperative units, and manufactured homes. See 12 CFR 704.2
  • Residual interest: means the ownership interest in remainder cash flows from a CMO or ABS transaction after payments due bondholders and trust administrative expenses have been satisfied. See 12 CFR 704.2
  • Restitution: The court-ordered payment of money by the defendant to the victim for damages caused by the criminal action.
  • Retained earnings: means undivided earnings, regular reserve, reserve for contingencies, supplemental reserves, reserve for losses, GAAP equity acquired in a merger, and other appropriations from undivided earnings as designated by management or the NCUA. See 12 CFR 704.2
  • Retained earnings ratio: means the corporate credit union's retained earnings divided by its moving daily average net assets. See 12 CFR 704.2
  • Review: means the process of examining documents that are located during a search to determine if any portion should lawfully be withheld. See 21 CFR 1401.3
  • Revocable trust: A trust agreement that can be canceled, rescinded, revoked, or repealed by the grantor (person who establishes the trust).
  • Right of survivorship: The ownership rights that result in the acquisition of title to property by reason of having survived other co-owners.
  • Right-of-way: means the public lands that the BLM authorizes a holder to use or occupy under a particular grant or lease. See 43 CFR 2801.5
  • Risk-weighted assets: means a corporate credit union's risk-weighted assets as calculated in accordance with appendix C of this part. See 12 CFR 704.2
  • RMA: means the Ranally Metro Area Population Ranking as published in the most recent edition of the Rand McNally Commercial Atlas and Marketing Guide. See 43 CFR 2801.5
  • Round trip: means a trip on an air travel itinerary that terminates or has a stopover at the origin point (or co-terminal). See 49 CFR 1510.3
  • Scheduled passenger operation: means an air transportation operation (a flight) from identified air terminals at a set time, which is held out to the public and announced by timetable or schedule, published in a newspaper, magazine, or other advertising medium. See 49 CFR 1540.5
  • Screening function: means the inspection of individuals and property for weapons, explosives, and incendiaries. See 49 CFR 1540.5
  • Screening location: means each site at which individuals or property are inspected for the presence of weapons, explosives, or incendiaries. See 49 CFR 1540.5
  • Search: means to review, manually or by automated means, agency records for the purpose of locating those records responsive to a request. See 21 CFR 1401.3
  • Secret ballot: means no credit union employee or official can determine how a particular member voted. See 12 CFR 708b.2
  • Secret ballot: means no credit union employee or official can determine how a particular member voted. See 12 CFR 708a.101
  • Secured area: means a portion of an airport, specified in the airport security program, in which certain security measures specified in part 1542 of this chapter are carried out. See 49 CFR 1540.5
  • Securities lending: means lending a security to a counterparty, either directly or through an agent, and accepting collateral in return. See 12 CFR 704.2
  • Securitization: means the pooling and repackaging by a special purpose entity of assets or other credit exposures that can be sold to investors. See 12 CFR 704.2
  • Security threat assessment: means the threat assessment for which the applicant has applied, as described in 49 CFR 1515. See 49 CFR 1515.3
  • Selling carrier: means an air carrier or foreign air carrier that provides or offers to provide air transportation and has control over the operational functions performed in providing that air transportation. See 49 CFR 1510.3
  • Senior executive officer: means a senior executive officer as defined by 12 CFR 701. See 12 CFR 702.2
  • Senior executive officer: means a chief executive officer, any assistant chief executive officer (e. See 12 CFR 704.2
  • Senior management official: means a chief executive officer, an assistant chief executive officer, a chief financial officer, and any other senior executive officer as defined by the appropriate federal banking agencies pursuant to section 32(f) of the Federal Deposit Insurance Act. See 12 CFR 708a.101
  • Servicer: means the person responsible for:

    (1) Receiving any scheduled, periodic payments from a borrower under the terms of a loan, including amounts for taxes, insurance premiums, and other charges with respect to the property securing the loan. See 12 CFR 760.2

  • Settlement date: means the date originally agreed to by a corporate credit union and a counterparty for settlement of the purchase or sale of a security. See 12 CFR 704.2
  • Share insurance communication: means any written communication, excluding the forms in subpart C of this part, that is made by or on behalf of a federally insured credit union that is intended to be read by two or more credit union members and that mentions share insurance conversion or termination. See 12 CFR 708b.2
  • Shares: means deposits, shares, share certificates, share drafts, or any other depository account authorized by federal or state law. See 12 CFR 702.2
  • Short sale: means the sale of a security not owned by the seller. See 12 CFR 704.2
  • Site: means an area, such as a mountaintop, where a holder locates one or more communication or other right-of-way facilities. See 43 CFR 2801.5
  • Small business related security: means a security that represents an interest in one or more promissory notes or leases of personal property evidencing the obligation of a small business concern and originated by an insured depository institution, insured credit union, insurance company, or similar institution which is supervised and examined by a Federal or State authority, or a finance company or leasing company. See 12 CFR 704.2
  • Special flood hazard area: means the land in the flood plain within a community having at least a one percent chance of flooding in any given year, as designated by the Administrator of FEMA. See 12 CFR 760.2
  • Standard security program: means a security program issued by TSA that serves as a baseline for a particular type of operator. See 49 CFR 1540.5
  • State: means a state of the United States, the District of Columbia, any of the several territories and possessions of the United States, and the Commonwealth of Puerto Rico. See 12 CFR 700.2
  • state authority: means the appropriate state or territorial regulatory or supervisory authority for any such credit union. See 12 CFR 708b.2
  • State credit union: means any credit union organized and operated according to the laws of any state, the several territories and possessions of the United States, or the Commonwealth of Puerto Rico. See 12 CFR 708b.2
  • Sterile area: means a portion of an airport defined in the airport security program that provides passengers access to boarding aircraft and to which the access generally is controlled by TSA, or by an aircraft operator under part 1544 of this chapter or a foreign air carrier under part 1546 of this chapter, through the screening of persons and property. See 49 CFR 1540.5
  • Stock subscription: means the stock subscription required for membership in the Facility. See 12 CFR 725.2
  • Stopover: means a break in travel of more than:

    (1) Four (4) hours for continental interstate air transportation or continental intrastate air transportation, and

    (2) Twelve (12) hours for non-continental interstate air transportation, non-continental intrastate air transportation, or foreign air transportation. See 49 CFR 1510.3

  • Stripped mortgage-backed security: means a security that represents either the principal-only or interest-only portion of the cash flows of an underlying pool of mortgages. See 12 CFR 704.2
  • Subordinated security: means a security that, at the time of purchase, has a junior claim on the underlying collateral or assets to other securities in the same issuance. See 12 CFR 704.2
  • Subpoena duces tecum: A command to a witness to produce documents.
  • Substantial Evidence: means such relevant evidence as a reasonable person might accept as adequate to support a conclusion. See 49 CFR 1515.3
  • Summons: Another word for subpoena used by the criminal justice system.
  • Supervisory committee: refers to a supervisory committee as defined in Section 111(b) of the Federal Credit Union Act, 12 U. See 12 CFR 715.2
  • Supervisory committee audit: refers to an engagement under either §715. See 12 CFR 715.2
  • Table funding: means a settlement at which a loan is funded by a contemporaneous advance of loan funds and an assignment of the loan to the person advancing the funds. See 12 CFR 760.2
  • Television broadcast: means a use that broadcasts UHF and VHF audio and video signals for general public reception. See 43 CFR 2801.5
  • Tenancy in common: A type of property ownership in which two or more individuals have an undivided interest in property. At the death of one tenant in common, his (her) fractional percentage of ownership in the property passes to the decedent
  • Tenant: means an occupant who is paying a facility manager, facility owner, or other entity for occupying and using all or any part of a facility. See 43 CFR 2801.5
  • Terminates: means the location at which a trip on a complete air travel itinerary ends. See 49 CFR 1510.3
  • Terms: As used in this part, the term:

    Acreage rent means rent assessed for solar and wind energy development grants and leases that is determined by the number of acres authorized for the grant or lease. See 43 CFR 2801.5

  • Terms: As used in this part:

    Commercial driver's license (CDL) is used as defined in 49 CFR 383. See 49 CFR 1572.400

  • Testify: Answer questions in court.
  • Testimony: Evidence presented orally by witnesses during trials or before grand juries.
  • Threat Assessment Fee: means the fee required, in this part, for the cost of TSA adjudicating security threat assessments, appeals, and waivers under 49 CFR part 1572. See 49 CFR 1572.400
  • Total assets: (1) Total assets means a credit union's total assets as measured by either--

    (i) Average quarterly balance. See 12 CFR 702.2

  • Total assets: means the sum of all a corporate credit union's assets as calculated under GAAP. See 12 CFR 704.2
  • Total capital: means the sum of Tier 1 capital and Tier 2 capital, less the corporate credit union's equity investments not otherwise deducted when calculating Tier 1 capital. See 12 CFR 704.2
  • Total risk-based capital ratio: means the ratio of total capital to moving monthly average net risk-weighted assets. See 12 CFR 704.2
  • Tract: means land that may be included in an NPR-A oil and gas unit agreement and that may or may not be in a Federal lease. See 43 CFR 3137.5
  • Trade date: means the date a corporate credit union originally agrees, whether orally or in writing, to enter into the purchase or sale of a security. See 12 CFR 704.2
  • Transcript: A written, word-for-word record of what was said, either in a proceeding such as a trial or during some other conversation, as in a transcript of a hearing or oral deposition.
  • Trigger: means an event in a securitization that will redirect cash-flows if predefined thresholds are breached. See 12 CFR 704.2
  • Trust account: A general term that covers all types of accounts in a trust department, such as estates, guardianships, and agencies. Source: OCC
  • Trustee: A person or institution holding and administering property in trust.
  • Truth in Lending Act: The Truth in Lending Act is a federal law that requires lenders to provide standardized information so that borrowers can compare loan terms. In general, lenders must provide information on Source: OCC
  • TSA: means the Transportation Security Administration. See 49 CFR 1500.3
  • TSA agent: means an entity approved by TSA to collect and transmit fingerprints and applicant information, in accordance with 49 CFR part 1572, and fees in accordance with this part. See 49 CFR 1572.400
  • TSA Final Decision Maker: means the Administrator, acting in the capacity of the decision maker on appeal, or any person to whom the Administrator has delegated the Administrator's decision-making authority. See 49 CFR 1515.3
  • TWIC: A commercial motor vehicle driver who holds a TWIC satisfies the requirements of this section. See 49 CFR 1572.201
  • Unescorted access authority: means the authority granted by an airport operator, an aircraft operator, foreign air carrier, or airport tenant under part 1542, 1544, or 1546 of this chapter, to individuals to gain entry to, and be present without an escort in, secured areas and SIDA's of airports. See 49 CFR 1540.5
  • Unescorted access to cargo: means the authority granted by an aircraft operator or IAC to individuals to have access to air cargo without an escort. See 49 CFR 1540.5
  • Unimpaired capital and surplus: means the same as "paid-in and unimpaired capital and surplus" as defined in paragraph (f) of this section. See 12 CFR 700.2
  • Uninsured: means there is no share or deposit insurance available on the credit union accounts. See 12 CFR 708b.2
  • Unit agreement: means a BLM-approved agreement to cooperate in exploring, developing, operating and sharing in production of all or part of an oil or gas pool, field or like area, including at least one NPR-A lease, without regard to lease boundaries and ownership. See 43 CFR 3137.5
  • Variable Rate: Having a "variable" rate means that the APR changes from time to time based on fluctuations in an external rate, normally the Prime Rate. This external rate is known as the "index." If the index changes, the variable rate normally changes. Also see Fixed Rate.
  • Weighted average life: means the weighted-average time to the return of a dollar of principal, calculated by multiplying each portion of principal received by the time at which it is expected to be received (based on a reasonable and supportable estimate of that time) and then summing and dividing by the total amount of principal. See 12 CFR 704.2
  • Weighted-average life: means the weighted-average time to the return of a dollar of principal, calculated by multiplying each portion of principal received by the time at which it is expected to be received (based on a reasonable and supportable estimate of that time), and then summing and dividing by the total amount of principal. See 12 CFR 702.2
  • When-issued trading: means the buying and selling of securities in the period between the announcement of an offering and the issuance and payment date of the securities. See 12 CFR 704.2
  • Working papers: refers to the principal record, in any form, of the work performed by the auditor and/or supervisory committee to support its findings and/or conclusions concerning significant matters. See 12 CFR 715.2
  • Zone: means one of eight geographic groupings necessary for linear right-of-way rent assessment purposes, covering all lands in the contiguous United States. See 43 CFR 2801.5