Terms Used In U.S. Code > Title 15 > Chapter 42

• Administration: means the National Credit Union Administration. See 12 USC 1752
• Appellate: About appeals; an appellate court has the power to review the judgement of another lower court or tribunal.
• Board: means the National Credit Union Administration Board. See 12 USC 1752
• branch: includes any branch credit union, branch office, branch agency, additional office, or any branch place of business located in any State of the United States, the District of Columbia, the several territories, including the trust territories, and possessions of the United States, the Panama Canal Zone, or the Commonwealth of Puerto Rico, at which member accounts are established or money lent. See 12 USC 1752
• Chairman: means the Chairman of the National Credit Union Administration Board. See 12 USC 1752
• Conviction: A judgement of guilt against a criminal defendant.
• Deed: The legal instrument used to transfer title in real property from one person to another.
• Defendant: In a civil suit, the person complained against; in a criminal case, the person accused of the crime.
• Dismissal: The dropping of a case by the judge without further consideration or hearing. ^Source:
• Escrow: Money given to a third party to be held for payment until certain conditions are met.
• Federal credit union: means a cooperative association organized in accordance with the provisions of this chapter for the purpose of promoting thrift among its members and creating a source of credit for provident or productive purposes. See 12 USC 1752
• Fee simple: Absolute title to property with no limitations or restrictions regarding the person who may inherit it.
• Fund: means the National Credit Union Share Insurance Fund. See 12 USC 1752
• insured credit union: means any credit union the member accounts of which are insured in accordance with the provisions of subchapter II of this chapter, and the term "noninsured credit union" means any credit union the member accounts of which are not so insured. See 12 USC 1752
• Lawsuit: A legal action started by a plaintiff against a defendant based on a complaint that the defendant failed to perform a legal duty, resulting in harm to the plaintiff.
• Lien: A claim against real or personal property in satisfaction of a debt.
• military: includes Army, Navy, Marine Corps, Air Force, and Coast Guard. See 12 USC 1748
• Misdemeanor: Usually a petty offense, a less serious crime than a felony, punishable by less than a year of confinement.
• mortgage: means a first mortgage on real estate, in fee simple, or on a leasehold (1) under a lease for not less than ninety-nine years which is renewable. See 12 USC 1748
• Mortgage loan: A loan made by a lender to a borrower for the financing of real property. ^{Source: OCC}
• Mortgagee: The person to whom property is mortgaged and who has loaned the money.
• mortgagee: includes the original lender under a mortgage, and his successors and assigns approved by the Secretary. See 12 USC 1748
• Mortgagor: The person who pledges property to a creditor as collateral for a loan and who receives the money.
• mortgagor: includes the original borrower under a mortgage, his successors and assigns. See 12 USC 1748
• personnel: shall include military and civilian personnel approved by the Secretary of Defense, or his designee, and the dependents of all such personnel. See 12 USC 1748
• Power of attorney: A written instrument which authorizes one person to act as another's agent or attorney. The power of attorney may be for a definite, specific act, or it may be general in nature. The terms of the written power of attorney may specify when it will expire. If not, the power of attorney usually expires when the person granting it dies. ^{Source: OCC}
• Service of process: The service of writs or summonses to the appropriate party.
• Sole ownership: The type of property ownership in which one individual holds legal title to the property and has full control of it.
• State: includes the several States, and Puerto Rico, the District of Columbia, Guam, the Virgin Islands, the Canal Zone, and Midway Island. See 12 USC 1748