12 CFR § 2.2 - Definitions.

---
identifier: "/us/cfr/t12/s2.2"
source: "ecfr"
legal_status: "authoritative_unofficial"
title: "12 CFR § 2.2 - Definitions."
title_number: 12
title_name: "Banks and Banking"
section_number: "2.2"
section_name: "Definitions."
chapter_name: "COMPTROLLER OF THE CURRENCY, DEPARTMENT OF THE TREASURY"
part_number: "2"
part_name: "SALES OF CREDIT LIFE INSURANCE"
positive_law: false
currency: "2026-04-05"
last_updated: "2026-04-05"
format_version: "1.1.0"
generator: "[email protected]"
authority: "12 U.S.C. 24 (Seventh), 93a, and 1818(n)."
regulatory_source: "61 FR 51781, Oct. 4, 1996, unless otherwise noted."
cfr_part: "2"
---


# 2.2 Definitions.

(a) *Bank* means a national banking association.

(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.

(c) *Owning an interest* includes:

(1) Ownership through a spouse or minor child;

(2) Ownership through a broker, nominee, or other agent; or

(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.

(d) *Officer, director, employee, or principal shareholder* includes the spouse and minor children of an officer, director, employee, or principal shareholder.

(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]