§ 6701 Operation of State law
Subchapter I State Regulation of Insurance
Subchapter II Redomestication of Mutual Insurers
Subchapter III National Association of Registered Agents and Brokers
Subchapter IV Rental Car Agency Insurance Activities

Terms Used In U.S. Code > Title 15 > Chapter 93 - Insurance

  • application for restructuring: means a written request--

    (A) from a borrower for the restructuring of a distressed loan in accordance with a preliminary restructuring plan proposed by the borrower as a part of the application. See 12 USC 2202a

  • Bail: Security given for the release of a criminal defendant or witness from legal custody (usually in the form of money) to secure his/her appearance on the day and time appointed.
  • Balanced budget: A budget in which receipts equal outlays.
  • cost of foreclosure: includes --

    (A) the difference between the outstanding balance due on a loan made by a qualified lender and the liquidation value of the loan, taking into consideration the borrower's repayment capacity and the liquidation value of the collateral used to secure the loan. See 12 USC 2202a

  • Deed: The legal instrument used to transfer title in real property from one person to another.
  • Dependent: A person dependent for support upon another.
  • distressed loan: means a loan that the borrower does not have the financial capacity to pay according to its terms and that exhibits one or more of the following characteristics:

    (A) The borrower is demonstrating adverse financial and repayment trends. See 12 USC 2202a

  • Donor: The person who makes a gift.
  • Ex officio: Literally, by virtue of one's office.
  • 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
  • foreclosure proceeding: means --

    (A) a foreclosure or similar legal proceeding to enforce a lien on property, whether real or personal, that secures a nonaccrual or distressed loan. See 12 USC 2202a

  • Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
  • Lien: A claim against real or personal property in satisfaction of a debt.
  • loan: means a loan made to a farmer, rancher, or producer or harvester of aquatic products, for any agricultural or aquatic purpose and other credit needs of the borrower, including financing for basic processing and marketing directly related to the borrower's operations and those of other eligible farmers, ranchers, and producers or harvesters of aquatic products. See 12 USC 2202a
  • Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
  • 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
  • qualified lender: means --

    (A) a System institution that makes loans (as defined in paragraph (5)) except a bank for cooperatives. See 12 USC 2202a

  • Quorum: The number of legislators that must be present to do business.
  • Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.
  • restructuring: include rescheduling, reamortization, renewal, deferral of principal or interest, monetary concessions, and the taking of any other action to modify the terms of, or forbear on, a loan in any way that will make it probable that the operations of the borrower will become financially viable. See 12 USC 2202a
  • Secretary: means the Secretary of Health and Human Services. See 42 USC 201
  • Service: means the Public Health Service. See 42 USC 201
  • State: includes , in addition to the several States, only the District of Columbia, Guam, the Commonwealth of Puerto Rico, the Northern Mariana Islands, the Virgin Islands, American Samoa, and the Trust Territory of the Pacific Islands. See 42 USC 201
  • vehicle: includes every description of carriage or other artificial contrivance used, or capable of being used, as a means of transportation on land. See 1 USC 4
  • vessel: includes every description of watercraft or other artificial contrivance used, or capable of being used, as a means of transportation on water. See 1 USC 3