{"identifier":"/us/usc/t12/s1795a","title":12,"num":"\u00a7\u202f1795a.","heading":"Definitions","text":"\u00a7\u202f1795a.\nDefinitions\nAs used in this subchapter, the term\u2014\n(1) \u201cliquidity needs\u201d means the needs of credit unions primarily serving natural persons for\u2014\n(A) short-term adjustment credit available to assist in meeting temporary requirements for funds or to cushion more persist\u00adent outflows of funds pending an orderly adjustment of credit union assets and liabilities;\n(B) seasonal credit available for longer periods to assist in meeting seasonal needs for funds arising from a combination of expected patterns of movement in share and deposit accounts and loans; and\n(C) protracted adjustment credit available in the event of unusual or emergency circumstances of a longer term nature resulting from national, regional or local difficulties.\n1\n1 So in original. The period probably should be a semicolon.\n(2) \u201cCentral Liquidity Facility\u201d or \u201cFacility\u201d means the National Credit Union Central Liquidity Facility;\n(3) \u201cpaid-in and unimpaired capital and surplus\u201d means the balance of the paid-in share accounts and deposits as of a given date, less any loss that may have been incurred for which there is no reserve or which has not been charged against undivided earnings, plus the credit balance (or less the debit balance) of the undivided earnings account as of a given date, after all losses have been provided for and net earnings or net losses have been added thereto or deducted therefrom. Reserves shall not be considered as part of surplus,\n2\n2 So in original. The comma probably should be a semicolon.\n(4) \u201cmember\u201d means a Regular or an Agent member of the Facility.","url":"https://projectusc.org/usc/t12/s1795a.html","content":[{"t":"sec","id":"/us/usc/t12/s1795a","children":[{"t":"num","text":"\u00a7\u202f1795a."},{"t":"heading","text":"Definitions","tail":"\n"},{"t":"chapeau","text":"As used in this subchapter, the term\u2014"},{"t":"para","id":"/us/usc/t12/s1795a/1","children":[{"t":"num","text":"(1)"},{"t":"chapeau","text":" \u201cliquidity needs\u201d means the needs of credit unions primarily serving natural persons for\u2014"},{"t":"subpara","id":"/us/usc/t12/s1795a/1/A","children":[{"t":"num","text":"(A)"},{"t":"content","text":" short-term adjustment credit available to assist in meeting temporary requirements for funds or to cushion more persist\u00adent outflows of funds pending an orderly adjustment of credit union assets and liabilities;","tail":"\n"}],"tail":"\n"},{"t":"subpara","id":"/us/usc/t12/s1795a/1/B","children":[{"t":"num","text":"(B)"},{"t":"content","text":" seasonal credit available for longer periods to assist in meeting seasonal needs for funds arising from a combination of expected patterns of movement in share and deposit accounts and loans; and","tail":"\n"}],"tail":"\n"},{"t":"subpara","id":"/us/usc/t12/s1795a/1/C","children":[{"t":"num","text":"(C)"},{"t":"content","text":" protracted adjustment credit available in the event of unusual or emergency circumstances of a longer term nature resulting from national, regional or local difficulties.","children":[{"t":"ref","text":"1"},{"t":"num","text":"1","tail":"\u202fSo in original. The period probably should be a semicolon."},{"t":"text","text":"\u202fSo in original. The period probably should be a semicolon."}],"tail":"\n"}],"tail":"\n"}],"tail":"\n"},{"t":"para","id":"/us/usc/t12/s1795a/2","children":[{"t":"num","text":"(2)"},{"t":"content","text":" \u201cCentral Liquidity Facility\u201d or \u201cFacility\u201d means the National Credit Union Central Liquidity Facility;","tail":"\n"}],"tail":"\n"},{"t":"para","id":"/us/usc/t12/s1795a/3","children":[{"t":"num","text":"(3)"},{"t":"content","text":" \u201cpaid-in and unimpaired capital and surplus\u201d means the balance of the paid-in share accounts and deposits as of a given date, less any loss that may have been incurred for which there is no reserve or which has not been charged against undivided earnings, plus the credit balance (or less the debit balance) of the undivided earnings account as of a given date, after all losses have been provided for and net earnings or net losses have been added thereto or deducted therefrom. Reserves shall not be considered as part of surplus,","children":[{"t":"ref","text":"2"},{"t":"num","text":"2","tail":"\u202fSo in original. The comma probably should be a semicolon."},{"t":"text","text":"\u202fSo in original. The comma probably should be a semicolon.","tail":" and"}],"tail":"\n"}],"tail":"\n"},{"t":"para","id":"/us/usc/t12/s1795a/4","children":[{"t":"num","text":"(4)"},{"t":"content","text":" \u201cmember\u201d means a Regular or an Agent member of the Facility.","tail":"\n"}],"tail":"\n"},{"t":"text","text":"\n"},{"t":"text","text":"\n"}]}]}