Page:United States Statutes at Large Volume 110 Part 4.djvu/630

 110 STAT. 3009 -467 PUBLIC LAW 104-208—SEPT. 30, 1996 "(I)(aa) purchase at sale under a judgment or decree, power of sale, or nonjudicial foreclosure sale; "(bb) a deed in lieu of foreclosure, or similar conveyance from a trustee; or "(cc) repossession, if the vessel or facility was security for an extension of credit previously contracted; "(11) conveyance pursuant to an extension of credit previously contracted, including the termination of a lease agreement; or "(III) any other formal or informal manner by which the person acquires, for subsequent disposition, title to or possession of a vessel or facility in order to protect the security interest of the person. "(iv) LENDER.— The term 'lender' means— "(I) an insured depository institution (as defined in section 3 of the Federal Deposit Insurance Act (12 U.S.C. 1813)); "(II) an insured credit union (as defined in section 101 of the Federal Credit Union Act (12 U.S.C. 1752)); "(III) a bank or association chartered under the Farm Credit Act of 1971 (12 U.S.C. 2001 et seq.); "(IV) a leasing or trust company that is an affiliate of an insured depository institution; "(V) any person (including a successor or assignee of any such person) that makes a bona fide extension of credit to or takes or acquires a security interest from a nonaffiliated person; "(VI) the Federal National Mortgage Association, the Federal Home Loan Mortgage Corporation, the Federal Agricultural Mortgage Corporation, or any other entity that in a bona fide manner buys or sells loans or interests in loans; "(VII) a person that insures or guarantees against a default in the repayment of an extension of credit, or acts as a surety with respect to an extension of credit, to a nonaffiliated person; and "(VIII) a person that provides title insurance and that acquires a vessel or facility as a result of assignment or conveyance in the course of underwriting claims and claims settlement, "(v) OPERATIONAL FUNCTION. — The term 'operational function' includes a function such as that of a facility or plant manager, operations manager, chief operating officer, or chief executive officer. "(vi) SECURITY INTEREST. —The term 'security interest' includes a right under a mortgage, deed of trust, assignment, judgment lien, pledge, security agreement, factoring agreement, or lease and any other right accruing to a person to secure the repayment of money, the performance of a duty, or any other obligation by a nonaffiliated person.".

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