§ 709.1 Definitions.
Primary source
Verbatim text below is from the Electronic Code of Federal Regulations (eCFR), a public-domain U.S. government work. Always verify the current version with the eCFR before relying on it for any legal matter.
Full Text
For the purposes of this part, the following definitions apply:
General Counsel(a) means the General Counsel of the National Credit Union Administration or any attorney assigned to the General Counsel's staff.
Liquidating Agent(b) means the NCUA Board or person(s) appointed by it with delegated authority to carry out the liquidation of the credit union.
Insolvent(c) means insolvent as that term is defined in § 700.2 of this chapter.
Claim(d) means a creditor's claim against the credit union in liquidation. This term does not include insurance claims arising out of the liquidation of a federally insured credit union. Insurance claims are decided pursuant to part 745 of this chapter.
Shareholder(e) means members, nonmembers, accountholders or any other party or entity that is the owner of a share, share certificate or share draft account or the equivalent of such accounts under state law.
[56 FR 56925, Nov. 7, 1991, as amended at 69 FR 27828, May 17, 2004; 78 FR 32545, May 31, 2013]
This is legal information, not legal advice. Laws vary by jurisdiction and change frequently. Always verify current law with official sources and consult a licensed attorney in your jurisdiction for advice on your specific situation.