Insured shares definition
Insured shares means the total amount of a credit union’s share, share draft and share certificate accounts authorized to be issued to members, other credit unions or public units, exclusive of amounts in excess of insurance coverage limits as provided in 12 CFR Part 745, and, in the case of a federally insured state chartered credit union, shall include deposit accounts of members, other credit unions and public units if authorized by state law;
Insured shares means the total amount of a credit union’s share, share draft and share certificate accounts, or their equivalent under state law (which may include deposit accounts), authorized to be issued to members, other credit unions, public units, or nonmembers (where permitted under the Act). “Insured shares” does not include amounts in excess of insurance
Examples of Insured shares in a sentence
The Insured shares a percentage of the expenses for the health goods or services received, pursuant to the table of covered benefits and coinsurance that is included at the end of this Agreement.