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DocuSign Envelope ID:8B670D51-A7FD-4694-8E94-963553021305 <br /> CREDIT UNION ADVANTAGE ENDORSEMENT <br /> MANAGEMENT & PROFESSIONAL LIABILITY POLICY <br /> ADDITIONAL DEFINITIONS <br /> The following Definitions are added to the Management Liability Coverage. <br /> Borrower <br /> "Borrower" means any individual or organization to whom or to which the "insured organization" <br /> extends, agrees to extend or refuses to extend, a loan, lease or extension of credit, or any individual or <br /> organization guaranteeing such a loan,lease or extension of credit. <br /> Customer <br /> "Customer" means any natural person or entity with an account at the "insured organization" or any <br /> natural person or entity= that has received, is receiving or seeks to receive any service from the "insured <br /> organization." <br /> IRA/Keogh Act <br /> "IRA/Keogh act" means any error, misstatement, misleading statement, act, omission, neglect, or <br /> breach of duty actually or allegedly committed or attempted by any "insured," for a "customer" and in <br /> the "insured's" capacity as a trustee of any: <br /> a. Individual Retirement Account (IRA); <br /> b. Keogh Account (HR 10 Plan); <br /> c. Deferred compensation plan that meets the requirements of the Internal Revenue Code of 1986 <br /> (IRC) (26 U.S.C.A. § 1 et seq.); or <br /> d. Other plan under Section (3) of Employee Retirement Income Security= Act of 1974 (ERISA) (29 <br /> U.S.C.A. §1 et seq.), <br /> provided such trustee activity= is allowed under the limited trust authority= granted by such accounts or <br /> plans. <br /> Loan Servicing <br /> "Loan servicing" means the servicing of a loan,lease or extension of credit including: <br /> a. Record keeping; <br /> b. Billing; <br /> c. Disbursements of principal and interest for a loan; <br /> d. Credit reporting or statements of a "borrower's" creditworthiness; or <br /> e. Receipt or payment of insurance premiums and taxes. <br /> SCM 09/30/2014 <br /> MPL 0102 07 13 CUMIS Insurance Society, Inc. Page 2 of 7 <br />