PART 700—DEFINITIONS Authority: 12 U.S.C. 1752, 1757(6), 1766. § 700.1 Scope. The definitions in § 700.2 apply to terms used in this chapter unless the context indicates otherwise. Many additional definitions appear in the parts where the terms are used. [78 FR 32543, May 31, 2013] § 700.2 Definitions. As used in this chapter: Act et seq. Administration Board NCUA Board Credit union Federally insured credit union et seq. Insolvency. (i) It is determined by the Board that the facts that caused the deficient share-asset ratio no longer exist; and (ii) The likelihood of further depreciation of the share-asset ratio is not probable; and (iii) The return of the share-asset ratio to its normal limits within a reasonable time for the credit union concerned is probable; and (iv) The probability of a further potential loss to the insurance fund is negligible. (2) For purposes of this section, the following definitions are used: (i) Cash value of assets. (ii) Liabilities. NCUA Net worth. Non-federally insured credit union ONES credit union Paid-in and unimpaired capital and surplus unimpaired capital and surplus Regional Director Regional Office State Troubled condition (i) A federal credit union that has been assigned a 4 or 5 CAMELS composite rating by NCUA; or (ii) A federally insured, state-chartered credit union that has been assigned a 4 or 5 CAMELS composite rating by either NCUA, after an on-site contact, or its state supervisor; or (iii) A federal credit union or a federally insured, state-chartered credit union that has been granted assistance under section 208 of the Federal Credit Union Act, 12 U.S.C. 1788, that remains outstanding and unextinguished. (2) In the case of an insured corporate credit union: (i) A Federal credit union that has been assigned a 4 or 5 CAMELS rating by NCUA; or (ii) A federally insured, state-chartered credit union that has been assigned a 4 or 5 CAMELS rating by either NCUA, after an on-site contact, or its state supervisor; or (iii) A Federal credit union or a federally insured, state-chartered credit union that has been granted assistance under section 208 of the Federal Credit Union Act, 12 U.S.C 1788, that remains outstanding and unextinguished. Unimpaired capital and surplus [36 FR 23794, Dec. 15, 1971. Redesignated and amended at 66 FR 65624, Dec. 20, 2001; 86 FR 59288, Oct. 27, 2021] Editorial Note: For Federal Register