For purposes of�ARM 2.59.2062� through 2.59.2066, the following definitions apply:�

(1)�"Commitment to lend or extend credit" includes, but is not limited to:

(a)�undisbursed portions of operating, construction, or other lines of credit, up to limits established by a written agreement between the lender and the borrower;

(b)�undisbursed portions of credit lines established to cover overdrafts;

(c)�undisbursed portions of credit card plans; and

(d)�standby letters of credit.

(2)�"Loan" or "extension of credit" includes, but is not limited to:

(a)�direct loans, whether on the mutual association's books or charged off the mutual association's books, subject to the exclusions in ARM 2.59.2066;

(b)�loans, extensions of credit, or participation in loans or extensions of credit sold with recourse to or guaranteed by the mutual association;

(c)�letters of credit, other than standby letters of credit;

(d)�overdrafts, excluding intra-day overdrafts for which the mutual association receives payment prior to its close of business; and

(e)�any credit exposure of a mutual association to a counterparty arising from a derivative transaction or a securities financing transaction as defined in ARM 2.59.125.

(3)�"Person" means an individual, a corporation, a government, governmental subdivision or agency, a business trust, an estate, a trust, a partnership or association, a limited liability company, two or more persons having a joint or common interest, or any other legal or commercial entity.

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