[Code of Federal Regulations]
[Title 12, Volume 6]
[Revised as of January 1, 2008]
From the U.S. Government Printing Office via GPO Access
[CITE: 12CFR745.0]

[Page 651]
 
                       TITLE 12--BANKS AND BANKING
 
            CHAPTER VII--NATIONAL CREDIT UNION ADMINISTRATION
 
PART 745_SHARE INSURANCE AND APPENDIX--Table of Contents
 
  Subpart A_Clarification and Definition of Account Insurance Coverage
 
Sec. 745.0  Scope.


    The regulation and appendix contained in this part describe the 
insurance coverage of various types of member accounts. In general, all 
types of member share accounts received by the credit union in its usual 
course of business, including regular shares, share certificates, and 
share draft accounts, represent equity and are insured. For the purposes 
of applying the rules in this part, it is presumed that the owner of 
funds in an account is an insured credit union member or otherwise 
eligible to maintain an insured account in a credit union. These rules 
do not extend insurance coverage to persons not entitled to maintain an 
insured account or to account relationships that have not been approved 
by the Board as an insured account. Where there are multiple owners of a 
single account, generally only that part which is allocable to the 
member(s) is insured.