Terms Used In U.S. Code > Title 42 > Chapter 63A > Subchapter III > Part 2 - Gao Report

• Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
• individual: shall include every infant member of the species homo sapiens who is born alive at any stage of development. See 1 USC 8
• Oversight: Committee review of the activities of a Federal agency or program.
• 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}
• State: means a State, the District of Columbia, the Commonwealth of Puerto Rico, or any other territory or possession of the United States. See 1 USC 7