For purposes of this part:

(a) Agency means the Farm Credit Administration.

(b) Board means the Farm Credit Administration Board.

(c) Exempt meeting and exempt portion of a meeting mean, respectively, a meeting or that part of a meeting designated as provided in § 604.430 of this part as closed to the public by reason of one or more of the exemptive provisions listed in § 604.420 of this part.

(d) Meeting means the deliberations of at least two (quorum) members of the Board where such deliberations determine or result in joint conduct or disposition of official Farm Credit Administration business.

(e) Member means any one of the members of the Board.

(f) Open meeting means a meeting or portion of a meeting which is not an exempt meeting or an exempt portion of a meeting.

(g) Public observation means the right of any member of the public to attend and observe, but not participate or interfere in any way in, an open meeting of the Board, within the limits of reasonable and comfortable accommodations made available for such purpose by the Farm Credit Administration.