Subpart 2561 Native Allotments
Subpart 2562 Trade and Manufacturing Sites
Subpart 2563 Homesites or Headquarters
Subpart 2564 Native Townsites
Subpart 2565 Non-Native Townsites
Subpart 2566 Alaska Railroad Townsites
Subpart 2568 Alaska Native Allotments for Certain Veterans

Terms Used In CFR > Title 43 > Subtitle B > Chapter II > Subchapter B > Part 2560

  • Act: means the National Flood Insurance Act of 1968, as amended (42 U. See 43 CFR 2561.3
  • 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 43 CFR 2201.3-3
  • Administrator of FEMA: means the Administrator of the Federal Emergency Management Agency. See 43 CFR 2561.3
  • Agreement to initiate: means a written, nonbinding statement of present intent to initiate and pursue an exchange, which is signed by the parties and which may be amended by the written consent of the parties or terminated at any time upon written notice by any party. See 43 CFR 2200.0-5
  • Applicable state regulator: means the prudential state regulator of a state chartered corporate credit union. See 43 CFR 2201.3-3
  • Appropriate State official: means the commission, board or other supervisory authority having jurisdiction over credit unions chartered by the State which chartered the affected credit union. See 43 CFR 2201.3-1
  • Arbitration: means a process to resolve a disagreement among the parties as to appraised value, performed by an arbitrator appointed by the Secretary from a list recommended by the American Arbitration Association. See 43 CFR 2200.0-5
  • Assembled land exchange: means the consolidation of multiple parcels of Federal and/or non-Federal lands for purposes of one or more exchange transactions over a period of time. See 43 CFR 2200.0-5
  • Assistant Attorney General: means the Assistant Attorney General, Civil Rights Division, United States Department of Justice. See 43 CFR 2563.2
  • Authorized officer: means any employee of the Bureau of Land Management who has been delegated the authority and responsibility to make decisions and perform the duties described in this part. See 43 CFR 2200.0-5
  • 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 43 CFR 2563.2
  • 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 43 CFR 2201.3-3
  • Bargaining: means a process, other than arbitration, by which parties attempt to resolve a dispute concerning the appraised value of the lands involved in an exchange. See 43 CFR 2200.0-5
  • 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 43 CFR 2561.3
  • 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 43 CFR 2201.3-3
  • 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 43 CFR 2563.2
  • Condition: means the relative degree of soundness of a product which may affect its merchantability and includes those factors which are subject to change and may result from, but not necessarily limited to, age, improper handling, storage or lack of refrigeration. See 7 CFR 51.2
  • Contributed capital: means either perpetual or nonperpetual capital. See 43 CFR 2201.3-3
  • Corporate credit union: means an organization that:

    (1) Is chartered under Federal or state law as a credit union. See 43 CFR 2201.3-3

  • Credit union: means a Federal or State-chartered credit union that is insured by the National Credit Union Share Insurance Fund. See 43 CFR 2561.3
  • Credit union: means a federally insured, natural person credit union, whether federally- or State-chartered, as defined by 12 U. See 43 CFR 2201.3-1
  • Daily average net assets: means the average of net assets calculated for each day during the period. See 43 CFR 2201.3-3
  • Definitions: As used in this part, the term:

    (1) Application carries the meaning of that term as defined in 12 CFR 1002. See 43 CFR 2200.0-5

  • 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 43 CFR 2201.3-3
  • 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 43 CFR 2561.3
  • et seq: for federally-chartered credit unions, and as defined under State law for State-chartered credit unions. See 43 CFR 2201.3-1
  • Facility: means all or any portion of buildings, structures, equipment, roads, walks, parking lots, rolling stock or other conveyances, or other real or personal property. See 43 CFR 2563.2
  • Federal lands: means any lands or interests in lands, such as mineral or timber interests, that are owned by the United States and administered by the Secretary of the Interior through the Director of the Bureau of Land Management, without regard to how the United States acquired ownership, except: (1) Lands located on the Outer Continental Shelf. See 43 CFR 2200.0-5
  • 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 43 CFR 2547.6
  • 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 43 CFR 2547.6

  • Grade: means a class or rank of quality. See 7 CFR 51.2
  • Handicapped person: 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 43 CFR 2563.2
  • Hazardous substances: means those substances designated under Environmental Protection Agency regulations at 40 CFR part 302. See 43 CFR 2200.0-5
  • Highest and best use: means the most probable legal use of a property, based on market evidence as of the date of valuation, expressed in an appraiser's supported opinion. See 43 CFR 2200.0-5
  • Historic preservation programs: means programs conducted by the agency that have preservation of historic properties as a primary purpose. See 43 CFR 2563.2
  • Historic properties: means those properties that are listed or eligible for listing in the National Register of Historic Places or properties designated as historic under a statute of the appropriate State or local government body. See 43 CFR 2563.2
  • 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 43 CFR 2201.3-3
  • Lands: means any land and/or interests in land. See 43 CFR 2200.0-5
  • Ledger account: means an accounting mechanism that tracks the differential in dollar value of lands conveyed throughout a series of transactions. See 43 CFR 2200.0-5
  • Leverage ratio: means the ratio of Tier 1 capital to moving daily average net assets. See 43 CFR 2201.3-3
  • Market value: means the most probable price in cash, or terms equivalent to cash, that lands or interests in lands should bring in a competitive and open market under all conditions requisite to a fair sale, where the buyer and seller each acts prudently and knowledgeably, and the price is not affected by undue influence. See 43 CFR 2200.0-5
  • Mineral laws: means the mining laws, mineral leasing laws, and the Geothermal Steam Act, but not the Materials Sales Act, administered by the Secretary of the Interior through the Bureau of Land Management. See 43 CFR 2200.0-5
  • 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 43 CFR 2201.3-3
  • mobile home: includes a manufactured home as that term is used in the NFIP. See 43 CFR 2561.3
  • 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 43 CFR 2201.3-3
  • NCUA: means NCUA Board (Board), unless the particular action has been delegated by the Board. See 43 CFR 2201.3-3
  • NCUA: means the National Credit Union Administration. See 43 CFR 2547.6
  • 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 43 CFR 2201.3-3
  • 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 43 CFR 2201.3-1
  • 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 43 CFR 2201.3-1
  • NFIP: means the National Flood Insurance Program authorized under the Act. See 43 CFR 2561.3
  • 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 43 CFR 2547.6
  • 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 43 CFR 2201.3-3
  • Obligor: means the primary party obligated to repay an investment, e. See 43 CFR 2201.3-3
  • Official: means any director or committee member. See 43 CFR 2201.3-3
  • Outstanding interests: means rights or interests in property held by an entity other than a party to an exchange. See 43 CFR 2200.0-5
  • Party: means the United States or any person, State or local government who enters into an agreement to initiate an exchange. See 43 CFR 2200.0-5
  • Person: means any individual, corporation, or other legal entity legally capable to hold title to and convey land. See 43 CFR 2200.0-5
  • Prohibited indemnification payment: means any payment or any agreement or arrangement to make any payment by any federally insured credit union for the benefit of any person who is or was an IAP of the federally insured credit union, to pay or reimburse such person for any civil money penalty, judgment, or other liability or legal expense resulting from any administrative or civil action instituted by NCUA or any appropriate state regulatory authority, in the case of a credit union or corporate credit union chartered by a state, that results in a final order or settlement pursuant to which such person:

    (i) Is assessed a civil money penalty. See 43 CFR 2547.6

  • Public land laws: means that body of general land laws administered by the Secretary of the Interior through the Bureau of Land Management, excepting, however, the mineral laws. See 43 CFR 2200.0-5
  • Quality: means the combination of the inherent properties or attributes of a product which determines its relative degree of excellence. See 7 CFR 51.2
  • 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 43 CFR 2201.3-3
  • Residential improved real estate: means real estate upon which a home or other residential building is located or to be located. See 43 CFR 2561.3
  • Resource values: means any of the various commodity values (e. See 43 CFR 2200.0-5
  • 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 43 CFR 2201.3-3
  • Sample: means any number of sample units to be used for inspection. See 7 CFR 51.2
  • Secretary: means the Secretary of the Interior or the individual to whom the authority and responsibilities of that official, as to matters considered in this part, have been delegated. See 43 CFR 2200.0-5
  • Securities lending: means lending a security to a counterparty, either directly or through an agent, and accepting collateral in return. See 43 CFR 2201.3-3
  • Segregation: means the removal for a limited period, subject to valid existing rights, of a specified area of the Federal lands from appropriation under the public land laws and mineral laws, pursuant to the authority of the Secretary of the Interior to allow for the orderly administration of the Federal lands. See 43 CFR 2200.0-5
  • Senior executive officer: means a chief executive officer, any assistant chief executive officer (e. See 43 CFR 2201.3-3
  • 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 43 CFR 2561.3

  • 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 43 CFR 2561.3
  • Statement of value: means a written report prepared by a qualified appraiser that states the appraiser's conclusion(s) of value. See 43 CFR 2200.0-5
  • Substantial impairment: means a significant loss of the integrity of finished materials, design quality, or special character resulting from a permanent alteration. See 43 CFR 2563.2
  • 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 43 CFR 2561.3
  • Total assets: means the sum of all a corporate credit union's assets as calculated under GAAP. See 43 CFR 2201.3-3
  • 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 43 CFR 2201.3-3
  • Total risk-based capital ratio: means the ratio of total capital to moving monthly average net risk-weighted assets. See 43 CFR 2201.3-3
  • 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 43 CFR 2201.3-3