---
kind: "section"
citation: "12 C.F.R. § 709.1"
title: "12"
number: "709.1"
heading: "Definitions."
url: "https://uscodex.org/cfr/12/709.1"
---

# §709.1. Definitions.


For the purposes of this part, the following definitions apply:

- (a) General Counsel means the General Counsel of the National Credit Union Administration or any attorney assigned to the General Counsel's staff.
- (b) Liquidating Agent means the NCUA Board or person(s) appointed by it with delegated authority to carry out the liquidation of the credit union.
- (c) Insolvent means insolvent as that term is defined in [§ 700.2](/cfr/12/700.2.md) of this chapter.
- (d) Claim 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](/cfr/12/part745.md) of this chapter.
- (e) Shareholder 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.

## Notes

### Amendments

[56 FR 56925, Nov. 7, 1991, as amended at 69 FR 27828, May 17, 2004; 78 FR 32545, May 31, 2013]

### Authority

Authority: 12 U.S.C. 1757, 1766, 1767, 1786(h), 1786(t), and 1787(b)(4), 1788, 1789, 1789a.

### Source

Source: 56 FR 56925, Nov. 7, 1991, unless otherwise noted.

### Amendments

[56 FR 56925, Nov. 7, 1991, as amended at 69 FR 27828, May 17, 2004; 78 FR 32545, May 31, 2013]