1. (a) Bank means a national banking association.
2. (b) Credit life insurance means credit life, health, and accident insurance, sometimes referred to as credit life and disability insurance, and mortgage life and disability insurance.

3. (c) Owning an interest includes:

   1. (1) Ownership through a spouse or minor child;
   2. (2) Ownership through a broker, nominee, or other agent; or
   3. (3) Ownership through any corporation, partnership, association, joint venture, or proprietorship, that is controlled by the director, officer, employee, or principal shareholder of the bank.
4. (d) Officer, director, employee, or principal shareholder includes the spouse and minor children of an officer, director, employee, or principal shareholder.
5. (e) Principal shareholder means any shareholder who directly or indirectly owns or controls an interest of more than ten percent of the bank's outstanding voting securities.

[61 FR 51781, Oct. 4, 1996, as amended at 73 FR 22235, Apr. 24, 2008]