[Code of Federal Regulations]

[Title 12, Volume 6]

[Revised as of January 1, 2006]

From the U.S. Government Printing Office via GPO Access

[CITE: 12CFR740.1]



[Page 594]

 

                       TITLE 12--BANKS AND BANKING

 

            CHAPTER VII--NATIONAL CREDIT UNION ADMINISTRATION

 

PART 740_ACCURACY OF ADVERTISING AND NOTICE OF INSURED STATUS--Table 

of Contents

 

Sec. 740.1  Definitions.



    (a) Account or accounts as used in this part means share, share 

certificate or share draft accounts (or their equivalent under state 

law, as determined by the Board in the case of insured state credit 

unions) of a member (which includes other credit unions, public units, 

and nonmembers where permitted under the Act) in a credit union of a 

type approved by the Board which evidences money or its equivalent 

received or held by a credit union in the usual course of business and 

for which it has given or is obligated to give credit to the account of 

the member.

    (b) Insured credit union as used in this part means a credit union 

insured by the National Credit Union Administration (NCUA).