Sections
Part I General Provisions 6:1131 – 6:1142
Part II Holding Companies 6:1151 – 6:1153
Part III Incorporation and Organization 6:1161 – 6:1167
Part IV Membership 6:1181 – 6:1191
Part V Capital 6:1201 – 6:1208.1
Part VI Investments 6:1221 – 6:1237
Part VII Withdrawable Accounts 6:1251 – 6:1264
Part VIII Voluntary Corporate Changes 6:1271 – 6:1286
Part IX Authority of Commissioner 6:1301 – 6:1314
Part X Conservatorships, Receiverships, and Involuntary Liquidations 6:1321 – 6:1322
Part XI Enforcement Powers 6:1331 – 6:1341
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Terms Used In Louisiana Revised Statutes > Title 6 > Chapter 17 - Louisiana Savings Banks

  • Abandoned cemetery: means any cemetery for which the board, in its discretion and after having been provided with the requisite title information establishing the title owner of the property, determines it is impossible or impractical to locate the current owner based upon its findings, including but not limited to a presentation of title history by the applicant for an abandoned cemetery sales and management license. See Louisiana Revised Statutes 8:411
  • Abandoned cemetery sales and management license: means any license issued by the board pursuant to the provisions of this Chapter. See Louisiana Revised Statutes 8:411
  • Acquittal:
    1. Judgement that a criminal defendant has not been proved guilty beyond a reasonable doubt.
    2. A verdict of "not guilty."
     
  • Actuarial equivalent: means a benefit of equivalent value to the accumulated contributions, annuity, or benefits, as the case may be, computed upon the basis of such interest and mortality assumptions as are adopted by the board or provided in law. See Louisiana Revised Statutes 11:3682
  • Address: means street and municipal number, or other definite and ascertainable physical location if street and municipal number are not available; and, if a building not wholly occupied by the addressee, the location in the building. See Louisiana Revised Statutes 12:201
  • Administrator: means the state treasurer. See Louisiana Revised Statutes 9:153
  • Adult: means an individual who has attained the age of eighteen years. See Louisiana Revised Statutes 9:2260.1
  • Adviser: means a person who, at the request of the issuer, a confirmor, or another adviser, notifies, or requests another adviser to notify, the beneficiary that a letter of credit has been issued, confirmed, or amended. See Louisiana Revised Statutes 10:5-102
  • Affidavit: A written statement of facts confirmed by the oath of the party making it, before a notary or officer having authority to administer oaths.
  • Affiliate: as used in this Chapter , means a specific person who is directly or indirectly, through one or more intermediaries, controlled by, or controls, or is under common control with the person specified. See Louisiana Revised Statutes 9:3516
  • Affirmed: In the practice of the appellate courts, the decree or order is declared valid and will stand as rendered in the lower court.
  • Agreement: means the bargain of the parties in fact, as found in their language or inferred from other circumstances and from rules, regulations, and procedures given the effect of agreements under laws otherwise applicable to a particular transaction. See Louisiana Revised Statutes 9:2602
  • Agricultural products: includes products such as horticultural, and dairy products, livestock, wildlife, poultry, bees, forest products, fish and shell fish, and any products thereof, including processed and manufactured products, and any and all products raised or produced on farms and any processed or manufactured products thereof. See Louisiana Revised Statutes 9:3516
  • Agricultural purpose: means a purpose related to the production, harvest, exhibition, marketing, transportation, processing, or manufacture of agricultural products by a natural person who cultivates, plants, propagates or nurtures the agricultural products. See Louisiana Revised Statutes 9:3516
  • Allegation: something that someone says happened.
  • Allocated value: means (1) the par value of par-value shares, plus any amounts in excess of par value transferred from surplus to stated capital in respect of such shares, less any part of such amounts transferred from stated capital to capital surplus as permitted by this Chapter, and (2) the amount allocated to stated capital upon issuance of shares without par value, plus any amounts thereafter transferred from surplus to stated capital in respect of such shares, less any part of such amounts transferred from stated capital to capital surplus as permitted by this Chapter. See Louisiana Revised Statutes 12:201
  • Amount deferred: means the cash price, subtracting any down payment, under a consumer credit sale, revolving charge or seller credit card account, plus any other charges, fees and closing costs authorized by law, that are financed by the creditor under the transaction or included in or added to the balance of the consumer's indebtedness subject to credit service charges. See Louisiana Revised Statutes 9:3516
  • Amount financed: means the amount borrowed under a consumer loan, revolving loan or lender credit card account, plus any other charges, fees, and closing costs authorized by law, that are financed by the creditor under the transaction, or included in or added to the balance of the consumer's indebtedness subject to loan finance charges. See Louisiana Revised Statutes 9:3516
  • Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year.
  • Answer: The formal written statement by a defendant responding to a civil complaint and setting forth the grounds for defense.
  • Apparent owner: means a person whose name appears on the records of a holder as the person entitled to property held, issued, or owed by the holder. See Louisiana Revised Statutes 9:153
  • Appellate: About appeals; an appellate court has the power to review the judgement of another lower court or tribunal.
  • Applicant: means a person at whose request or for whose account a letter of credit is issued. See Louisiana Revised Statutes 10:5-102
  • Applicant: means any person who has submitted an application form to the board, paid the application fee, and who has provided such additional information as the board may require. See Louisiana Revised Statutes 37:2352
  • Appraisal: A determination of property value.
  • Arraignment: A proceeding in which an individual who is accused of committing a crime is brought into court, told of the charges, and asked to plead guilty or not guilty.
  • Arrest: Taking physical custody of a person by lawful authority.
  • Articles: means the original articles of incorporation, and all amendments thereto including those contained in merger agreements, or if restated, the latest restatement thereof, except in those instances in which the context expressly refers to the original articles of incorporation only. See Louisiana Revised Statutes 12:201
  • Assets: means all of a corporation's property and rights of every kind. See Louisiana Revised Statutes 12:201
  • Attorney-in-fact: A person who, acting as an agent, is given written authorization by another person to transact business for him (her) out of court.
  • Audiologist: means any person who represents himself to the public by title or description of services, methods, or procedures as one who offers to provide or provides services involving the application of principles, methods, and procedures of the science and profession of audiology. See Louisiana Revised Statutes 37:2651
  • Average final compensation: means the average annual earned compensation of an employee for any period of thirty-six successive or joined months of service as an employee during which the said earned compensation was the highest. See Louisiana Revised Statutes 11:3682
  • Bail: Security given for the release of a criminal defendant or witness from legal custody (usually in the form of money) to secure his/her appearance on the day and time appointed.
  • Bailiff: a court officer who enforces the rules of behavior in courtrooms.
  • Baseline: Projection of the receipts, outlays, and other budget amounts that would ensue in the future without any change in existing policy. Baseline projections are used to gauge the extent to which proposed legislation, if enacted into law, would alter current spending and revenue levels.
  • Beneficiary: means a person who under the terms of a letter of credit is entitled to have its complying presentation honored. See Louisiana Revised Statutes 10:5-102
  • Beneficiary: means an individual for whom property has been transferred to or held under a declaration of trust by a custodial trustee for the individual's use and benefit under this Chapter. See Louisiana Revised Statutes 9:2260.1
  • Beneficiary: means any person designated to receive a pension, an annuity, a retirement allowance, or other benefit as provided by this Subpart. See Louisiana Revised Statutes 11:3682
  • billing cycle: means the time interval between regular periodic billing statement dates. See Louisiana Revised Statutes 9:3516
  • Board: means the Louisiana Cemetery Board. See Louisiana Revised Statutes 8:1
  • Board: means the Louisiana Cemetery Board. See Louisiana Revised Statutes 8:411
  • Board: means the Louisiana State Board of Examiners of Psychologists. See Louisiana Revised Statutes 37:2352
  • Board: means the board of trustees of the Assessors' Retirement Fund. See Louisiana Revised Statutes 11:1402
  • board: means the board provided for in Louisiana Revised Statutes 11:3682
  • Board of commissioners: means a group of persons appointed under the provisions of law to exercise certain authorities over and have oversight and control of a levee district or levee and drainage district. See Louisiana Revised Statutes 38:281
  • Boat trailer: means a noncommercial vehicle of the trailer or semitrailer type used solely and exclusively for transporting pleasure watercraft and having a loaded gross weight of not more than one thousand five hundred pounds. See Louisiana Revised Statutes 47:451
  • Burial: means the placement of human remains in a grave. See Louisiana Revised Statutes 8:1
  • Business association: means a corporation, joint stock company, investment company, partnership, unincorporated association, joint venture, limited liability company, business trust, trust company, savings and loan association, building and loan association, savings bank, industrial bank, land bank, safe deposit company, safekeeping depository, bank, banking organization, financial organization, insurance company, mutual fund, credit union, utility, or other business entity consisting of one or more persons, whether or not for profit. See Louisiana Revised Statutes 9:153
  • Business corporation: means a corporation for profit formed under the laws of this state. See Louisiana Revised Statutes 12:201
  • Candidate: means any person whose application and related materials have been approved by the board. See Louisiana Revised Statutes 37:2352
  • Capital surplus: means the aggregate of:

    (a)  The amount of the consideration received on issuance of issued shares in excess of the aggregate allocated value thereof; and

    (b)  Amounts transferred to capital surplus as permitted by this Chapter; and

    (c)  Surplus arising from revaluation to reflect unrealized appreciation in value of assets; less

    (d)  Transfers from, or other reductions in, capital surplus required or permitted by this Chapter. See Louisiana Revised Statutes 12:201

  • care funds: includes both general and special care funds. See Louisiana Revised Statutes 8:1
  • Cash advance: means an advance of cash or a cash equivalent under a lender credit card account including but not limited to the purchase of a money order, wire transfer services, or the use of a convenience check to purchase goods or services. See Louisiana Revised Statutes 9:3516
  • Cemetery: means a place used or intended to be used for the interment of the human dead and, to the extent allowed in accordance with this Title, pet remains. See Louisiana Revised Statutes 8:1
  • Cemetery authority: means any person, firm, corporation, limited liability company, trustee, partnership, association, or municipality owning, operating, controlling, or managing a cemetery or holding lands within this state for interment purposes. See Louisiana Revised Statutes 8:1
  • Cemetery management organization: means a legal entity contracting as an independent contractor with a cemetery authority to manage a cemetery, but does not mean individual managers employed by or contracting directly with cemetery authorities operating under this title. See Louisiana Revised Statutes 8:1
  • Cemetery sales organization: means any legal entity contracting as an independent contractor with a cemetery authority to conduct sales of one or more cemetery spaces, whether by deed, servitude, grant of right to use, or otherwise, or cemetery products. See Louisiana Revised Statutes 8:1
  • Cemetery space: means a grave, crypt, vault, niche, tomb, lawn crypt, or any other property used or intended to be used for the interment of human remains. See Louisiana Revised Statutes 8:1
  • Chambers: A judge's office.
  • Charge to the jury: The judge's instructions to the jury concerning the law that applies to the facts of the case on trial.
  • Check: means any check, draft, item, orders or requests for payment of money, negotiable orders, withdrawal or any other instrument used to pay a debt or transfer money from one to another. See Louisiana Revised Statutes 9:3516
  • Chief judge: The judge who has primary responsibility for the administration of a court but also decides cases; chief judges are determined by seniority.
  • college: means any regional accredited university or other institution of higher learning offering a full-time doctoral course of study in psychology that is approved by the board. See Louisiana Revised Statutes 37:2352
  • commercial paper: means short-term obligations having a maturity ranging from two to two hundred seventy days issued by banks, corporations, or other borrowers. See Louisiana Revised Statutes 6:1223
  • Commercial vehicle: means every vehicle used or operated upon the public highways in connection with any business function except that of a common carrier or a contract or charter carrier, and except vehicles owned and used by churches, church schools, and religious orders for their purposes. See Louisiana Revised Statutes 47:451
  • Commissioner: means the commissioner of financial institutions. See Louisiana Revised Statutes 9:3516
  • Commissioner: means the secretary of the Department of Public Safety as provided for in Louisiana Revised Statutes 47:451
  • Common law: The legal system that originated in England and is now in use in the United States. It is based on judicial decisions rather than legislative action.
  • Computer program: means a set of statements or instructions to be used directly or indirectly in an information processing system in  order to bring about a certain result. See Louisiana Revised Statutes 9:2602
  • Concurrent resolution: A legislative measure, designated "S. Con. Res." and numbered consecutively upon introduction, generally employed to address the sentiments of both chambers, to deal with issues or matters affecting both houses, such as a concurrent budget resolution, or to create a temporary joint committee. Concurrent resolutions are not submitted to the President/Governor and thus do not have the force of law.
  • Confirmor: means a nominated person who undertakes, at the request or with the consent of the issuer, to honor a presentation under a letter of credit issued by another. See Louisiana Revised Statutes 10:5-102
  • Conservation servitude: means a nonpossessory interest of a holder in immovable property imposing limitations or affirmative obligations the purposes of which include retaining or protecting natural, scenic, or open-space values of immovable property, assuring its availability for agricultural, forest, recreational, or open-space use, protecting natural resources, maintaining or enhancing air or water quality, or preserving the historical, archaeological, or cultural aspects of unimproved immovable property. See Louisiana Revised Statutes 9:1272
  • Consumer: means a natural person who purchases goods, services, or movable or immovable property or rights therein, for a personal, family, or household purpose and includes a purchaser or buyer in a consumer credit sale or transaction made with the use of a seller credit card or otherwise, or a borrower or debtor in a consumer loan, revolving loan account, or a lender credit card. See Louisiana Revised Statutes 9:3516
  • Consumer credit insurance: means insurance, other than insurance on property, by which the satisfaction of debt in whole or in part is a benefit provided, but does not include

    (a)  insurance issued as an isolated transaction on the part of the insurer not related to an agreement or plan for insuring debtors of the creditor; or

    (b)  insurance indemnifying the creditor against loss due to the debtor's default. See Louisiana Revised Statutes 9:3516

  • Consumer credit transaction: means a consumer loan or a consumer credit sale but does not include a motor vehicle credit transaction made pursuant to Louisiana Revised Statutes 9:3516
  • Consumer loan: means a loan of money or its equivalent made by a supervised financial organization, a licensed lender, or lender in which the debtor is a consumer, and the loan is entered into primarily for personal, family, or household purposes and includes debts created by the use of a lender credit card, revolving loan account, or similar arrangement, as well as insurance premium  financing. See Louisiana Revised Statutes 9:3516
  • Continuance: Putting off of a hearing ot trial until a later time.
  • Contract: means the total legal obligation resulting from the agreement of the parties as affected by this Chapter and other applicable law. See Louisiana Revised Statutes 9:2602
  • Corporation: means any corporation or limited liability company which is authorized by its articles or an operating agreement to conduct any one or more of the businesses of a cemetery. See Louisiana Revised Statutes 8:1
  • Court: means any court of competent jurisdiction where the registered office of the corporation is located. See Louisiana Revised Statutes 12:201
  • Court: means a court of competent jurisdiction. See Louisiana Revised Statutes 9:2260.1
  • Credit card: means any card, plate, coupon book, or other single credit device that may be used from time to time to obtain credit. See Louisiana Revised Statutes 9:3516
  • Credit service charge: means the sum of the following:

    (i)  All charges payable directly or indirectly by the consumer and imposed directly or indirectly by the seller as an incident to the extension of credit, including any of the following types of charges that are applicable: time price differential; service; carrying or other charge, however denominated; premium or other charge for any guarantee or insurance protecting the seller against the consumer's default or other credit loss; and

    (ii)  Charges paid by the consumer for investigating the collateral or credit worthiness of the consumer or for commissions or brokerage for obtaining the credit, irrespective of the person to whom the charges are paid or payable, unless the seller had no notice of the charges when the credit was granted. See Louisiana Revised Statutes 9:3516

  • Creditable service: means service for which credit is allowable as provided in Louisiana Revised Statutes 11:3682
  • creditor: as used in this Chapter includes a seller in a consumer credit sale, revolving charge account, or transaction made with the use of a seller credit card or otherwise, or a lender in a consumer loan, a revolving loan account, or a lender credit card transaction. See Louisiana Revised Statutes 9:3516
  • Cremated remains: means human remains after cremation in a crematory. See Louisiana Revised Statutes 8:1
  • Cremation: means the reduction of the body of a deceased person to cremated remains in a crematory. See Louisiana Revised Statutes 8:1
  • Crematory: means a building or structure containing one or more retorts for the reduction of bodies of deceased persons to cremated remains. See Louisiana Revised Statutes 8:1
  • Curator: means a person appointed or qualified by a court to manage the estate of an individual or a person legally authorized to perform substantially the same functions. See Louisiana Revised Statutes 9:2260.1
  • Custodial trust property: means an interest in property transferred to or held under a declaration of trust by a custodial trustee under this Chapter and the income from and proceeds of that interest. See Louisiana Revised Statutes 9:2260.1
  • Custodial trustee: means a person designated as trustee of a custodial trust under this Chapter or a substitute or successor to the person designated. See Louisiana Revised Statutes 9:2260.1
  • Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
  • Dealer: means every person engaged regularly in the business of buying, selling, or exchanging motor vehicles, trailers, semitrailers, trucks, tractors, or other character of commercial or industrial motor vehicles in this state, and having an established place of business in this state, and using a special license plate issued hereunder solely for or in the bona fide transaction of such business and not otherwise, howsoever, or by whomsoever. See Louisiana Revised Statutes 47:451
  • Deed: The legal instrument used to transfer title in real property from one person to another.
  • Defendant: In a civil suit, the person complained against; in a criminal case, the person accused of the crime.
  • Defined benefit plan: means a pension plan established and maintained by an employer primarily to provide systematically for the payment of definitely determinable benefits to employees over a period of years after retirement based upon factors such as years of service and compensation received by employees. See Louisiana Revised Statutes 11:3682
  • Defined contribution plan: means a pension plan established and maintained by an employer which provides benefits based upon amounts contributed to an employee's individual account, plus any earnings allocated to the account, for distribution to the employee or his beneficiary either at retirement, after a fixed number of years, or upon the occurrence of some special event. See Louisiana Revised Statutes 11:3682
  • Department: means the Louisiana Department of Transportation and Development, acting directly through its duly authorized officers and agents, or whatever state board, official, or body may hereafter be authorized by law to exercise the functions now devolving upon it under the law. See Louisiana Revised Statutes 47:451
  • Devise: To gift property by will.
  • Direct rollover: means a payment by the system to the eligible retirement plan specified by the distributee. See Louisiana Revised Statutes 11:3682
  • Directors: means the board of directors, board of trustees, or other governing body of a cemetery authority, cemetery sales organization, or cemetery management organization. See Louisiana Revised Statutes 8:1
  • Directors: means persons designated in the articles as such, and persons designated, elected or appointed by any other name or title to act as directors, and their successors. See Louisiana Revised Statutes 12:201
  • Discovery: Lawyers' examination, before trial, of facts and documents in possession of the opponents to help the lawyers prepare for trial.
  • Dismissal: The dropping of a case by the judge without further consideration or hearing. Source:
  • Disposition: means the interment, burial, cremation, or anatomical donation of the body of a deceased person or parts of the body of a deceased person. See Louisiana Revised Statutes 8:1
  • Distributee: means a member or former member. See Louisiana Revised Statutes 11:3682
  • Disturb: includes excavating, removing, exposing, defacing, mutilating, destroying, molesting, or desecrating in any way any unmarked burial sites or any human skeletal remains, burial artifacts, or burial markers on or in an unmarked burial site without a permit. See Louisiana Revised Statutes 8:673
  • Division: means the division of archaeology of the office of cultural development within the Department of Culture, Recreation and Tourism. See Louisiana Revised Statutes 8:411
  • Docket: A log containing brief entries of court proceedings.
  • Document: means a draft or other demand, document of title, investment security, certificate, invoice, or other record, statement, or representation of fact, law, right, or opinion (i) which is presented in a written or other medium permitted by the letter of credit, or unless prohibited by the letter of credit, by the standard practice referred to in La. See Louisiana Revised Statutes 10:5-102
  • Domicile: means the state of incorporation of a corporation and the state of the principal place of business of a holder other than a corporation. See Louisiana Revised Statutes 9:153
  • Donee: The recipient of a gift.
  • Donor: The person who makes a gift.
  • Down payment: means an amount, including the value of any property used as a trade-in, paid to a seller to reduce the cash price of goods or services purchased under a consumer credit sale. See Louisiana Revised Statutes 9:3516
  • Earned compensation: means the full amount of compensation earned by an employee for a given month, but shall not include overtime. See Louisiana Revised Statutes 11:3682
  • Earned surplus: means the excess of surplus over capital surplus. See Louisiana Revised Statutes 12:201
  • Electronic: means relating to technology having electrical, digital, magnetic, wireless, optical, electromagnetic, or similar capabilities. See Louisiana Revised Statutes 9:2602
  • Electronic funds transfer: The transfer of money between accounts by consumer electronic systems-such as automated teller machines (ATMs) and electronic payment of bills-rather than by check or cash. (Wire transfers, checks, drafts, and paper instruments do not fall into this category.) Source: OCC
  • Electronic record: means a record created, generated, sent, communicated, received, or stored by electronic means. See Louisiana Revised Statutes 9:2602
  • Electronic signature: means an electronic sound, symbol, or process attached to or logically associated with a record and executed or adopted by a person with the intent to sign the record. See Louisiana Revised Statutes 9:2602
  • Eligible retirement plan: means an individual retirement account described in Section 408(a), an individual retirement annuity described in Section 408(b), an annuity plan described in Section 403(a), or a qualified trust described in Section 401(a), all of the Internal Revenue Code, that accepts the member's eligible rollover distribution. See Louisiana Revised Statutes 11:3682
  • Eligible rollover distribution: means any distribution of all or any portion of the balance to the credit of a member, except that an eligible rollover distribution does not include any distribution that is one of a series of substantially equal periodic payments not less frequently than annually, made for the life or life expectancy of the member or the joint lives or joint life expectancies of the member and the member's designated beneficiary, or for a specified period of ten years or more, or any distribution to the extent such distribution is required under Section 401(a)(9) of the Internal Revenue Code, or the portion of any distribution that is not includable in gross income. See Louisiana Revised Statutes 11:3682
  • Embezzlement: In most states, embezzlement is defined as theft/larceny of assets (money or property) by a person in a position of trust or responsibility over those assets. Embezzlement typically occurs in the employment and corporate settings. Source: OCC
  • Employee: means any commissioned member or employee of the Harbor Police Department of the Port of New Orleans prior to July 1, 2004, or any commissioned member of the Harbor Police Department of the Port of New Orleans on or after July 1, 2004 and hired on or before June 30, 2014. See Louisiana Revised Statutes 11:3682
  • Employer: means the Board of Commissioners of the Port of New Orleans. See Louisiana Revised Statutes 11:3682
  • En banc: In the bench or "full bench." Refers to court sessions with the entire membership of a court participating rather than the usual quorum. U.S. courts of appeals usually sit in panels of three judges, but may expand to a larger number in certain cases. They are then said to be sitting en banc.
  • endowed care cemetery: means a cemetery wherein lots and other interment spaces are sold or transferred under the representation that the cemetery will receive perpetual or endowed care. See Louisiana Revised Statutes 8:1
  • Entitlement: A Federal program or provision of law that requires payments to any person or unit of government that meets the eligibility criteria established by law. Entitlements constitute a binding obligation on the part of the Federal Government, and eligible recipients have legal recourse if the obligation is not fulfilled. Social Security and veterans' compensation and pensions are examples of entitlement programs.
  • Episode: shall mean a singular instance in which a youth is placed under the supervision, care, or custody of the office of juvenile justice. See Louisiana Revised Statutes 15:932
  • Escheat: Reversion of real or personal property to the state when 1) a person dies without leaving a will and has no heirs, or 2) when the property (such as a bank account) has been inactive for a certain period of time. Source: OCC
  • Extradition: The formal process of delivering an accused or convicted person from authorities in one state to authorities in another state.
  • Fair market value: The price at which an asset would change hands in a transaction between a willing, informed buyer and a willing, informed seller.
  • Fair market value: means the value of the lands or improvements actually taken, used, damaged, or destroyed for levees or levee drainage purposes as determined in accordance with the uniform criteria for determining fair market value as defined in Louisiana Revised Statutes 38:281
  • Family burial ground: means a cemetery in which no lots are sold to the public and in which interments are restricted to a group of persons related to each other by blood or marriage. See Louisiana Revised Statutes 8:1
  • Federal Deposit Insurance Corporation: A government corporation that insures the deposits of all national and state banks that are members of the Federal Reserve System. Source: OCC
  • federal funds: shall mean funds which a savings bank has on deposit at a depository which are exchangeable for funds on deposit at a Federal Reserve Bank or a Federal Home Loan Bank; and

    (c)  The term "business day" shall mean any day on which the savings bank, the depository, the Federal Reserve Bank, and the Federal Home Loan Bank where the funds are on deposit are all open for general business. See Louisiana Revised Statutes 6:1223

  • Federal Reserve System: The central bank of the United States. The Fed, as it is commonly called, regulates the U.S. monetary and financial system. The Federal Reserve System is composed of a central governmental agency in Washington, D.C. (the Board of Governors) and twelve regional Federal Reserve Banks in major cities throughout the United States. Source: OCC
  • Fiduciary agent: means a representative of an owner whose services provided to the owner include locating, delivering, recovering, or assisting in the recovery of property to the owner, and shall be limited to Louisiana licensed attorneys, certified public accountants, and financial advisors. See Louisiana Revised Statutes 9:153
  • Finance charge: The total cost of credit a customer must pay on a consumer loan, including interest. The Truth in Lending Act requires disclosure of the finance charge. Source: OCC
  • Fixed Rate: Having a "fixed" rate means that the APR doesn't change based on fluctuations of some external rate (such as the "Prime Rate"). In other words, a fixed rate is a rate that is not a variable rate. A fixed APR can change over time, in several circumstances:
    • You are late making a payment or commit some other default, triggering an increase to a penalty rate
    • The bank changes the terms of your account and you do not reject the change.
    • The rate expires (if the rate was fixed for only a certain period of time).
  • Forbearance: A means of handling a delinquent loan. A
  • Force majeure: means any of the following circumstances:

                (a) A major storm, major flood, or other similar natural disaster. See Louisiana Revised Statutes 8:1

  • Foreclosure: A legal process in which property that is collateral or security for a loan may be sold to help repay the loan when the loan is in default. Source: OCC
  • Foreign corporation: means a corporation formed under the laws of any jurisdiction other than this state. See Louisiana Revised Statutes 12:201
  • foreign trust: shall mean any of the following:

    (1)  A trust which by the terms of the trust instrument is governed by the law of a jurisdiction other than Louisiana. See Louisiana Revised Statutes 9:2262.1

  • Foreign vehicles: means every motor vehicle, trailer, or semitrailer which shall be brought into the state otherwise than in the ordinary course of business by or through a manufacturer or dealer and which had not been registered in this state. See Louisiana Revised Statutes 47:451
  • Garnishment: Generally, garnishment is a court proceeding in which a creditor asks a court to order a third party who owes money to the debtor or otherwise holds assets belonging to the debtor to turn over to the creditor any of the debtor
  • Germane: On the subject of the pending bill or other business; a strict standard of relevance.
  • Governing body: means the board or body in which the bond issuing power of a governmental unit is vested. See Louisiana Revised Statutes 13:5121
  • Governmental agency: means an executive, legislative, or judicial agency, department, board, commission, authority, institution, unit, or instrumentality of the federal government or of a state or of a county or parish, municipality, or other political subdivision of a state. See Louisiana Revised Statutes 9:2602
  • Grand jury: agreement providing that a lender will delay exercising its rights (in the case of a mortgage,
  • Grantor: The person who establishes a trust and places property into it.
  • Grave: means a space of ground in a cemetery, used or intended to be used, for burial. See Louisiana Revised Statutes 8:1
  • Gross weight: means the weight of a vehicle or vehicle combination without load on all axles, including the steering axle plus the weight of any load thereon. See Louisiana Revised Statutes 47:451
  • Guardian: A person legally empowered and charged with the duty of taking care of and managing the property of another person who because of age, intellect, or health, is incapable of managing his (her) own affairs.
  • Habeas corpus: A writ that is usually used to bring a prisoner before the court to determine the legality of his imprisonment. It may also be used to bring a person in custody before the court to give testimony, or to be prosecuted.
  • Highway: includes every way or place of whatever nature open to the use of the public, for the purpose of vehicular travel. See Louisiana Revised Statutes 47:451
  • Holder: means a person obligated to hold for the account of, or deliver or pay to, the owner of property that is subject to this Chapter. See Louisiana Revised Statutes 9:153
  • Holder: means :

    (a)  A governmental body empowered to hold an interest in immovable property under the laws of this state or the United States; or

    (b)  A charitable corporation, charitable association, or charitable trust, the purposes or powers of which include retaining or protecting the natural, scenic, or open-space values of immovable property, assuring the availability of immovable property for agricultural, forest, recreational, or open-space use, protecting natural resources, maintaining or enhancing air or water quality, or preserving the historical, archaeological, or cultural aspects of unimproved immovable property. See Louisiana Revised Statutes 9:1272

  • Home protection plan: means a contract between the homeowner and a warranty or service company wherein the company is obligated to pay or reimburse the cost to repair or replace the covered built-in appliances or major mechanical systems of the consumer's home in the event of a breakdown. See Louisiana Revised Statutes 9:3516
  • home solicitation sale: as used in this Part , shall be defined as provided in Louisiana Revised Statutes 9:3538
  • Human remains: means the body of a deceased person and includes the body in any stage of decomposition, as well as cremated remains. See Louisiana Revised Statutes 8:1
  • Human skeletal remains: means any part of the body of a deceased human being in any stage of decomposition. See Louisiana Revised Statutes 8:673
  • Incapacitated: means lacking the ability to manage property and business affairs effectively by reason of mental illness, mental deficiency, physical illness or disability, chronic use of drugs, chronic intoxication, confinement, detention by a foreign power, disappearance, minority, or other disabling cause. See Louisiana Revised Statutes 9:2260.1
  • Incorporator: means one of the signers of the original articles of incorporation. See Louisiana Revised Statutes 12:201
  • Indemnification: In general, a collateral contract or assurance under which one person agrees to secure another person against either anticipated financial losses or potential adverse legal consequences. Source: FDIC
  • Indictment: The formal charge issued by a grand jury stating that there is enough evidence that the defendant committed the crime to justify having a trial; it is used primarily for felonies.
  • Information: includes data, text, images, sounds, codes, computer programs, software, and databases, or the like. See Louisiana Revised Statutes 9:2602
  • Initial physical therapy evaluation: means the physical therapy assessment and resulting interpretation of a patient's condition through use of patient history, signs, symptoms, objective tests, or measurements to determine neuromusculoskeletal and biomechanical dysfunctions to determine the need for physical therapy. See Louisiana Revised Statutes 37:2407
  • institution-affiliated party: means :

    (1)  A director, officer, employee, agent, or controlling stockholder of a savings bank operating under this Chapter. See Louisiana Revised Statutes 6:1335

  • Insurance company: means an association, corporation, or fraternal or mutual benefit organization, whether or not for profit, engaged in the business of providing insurance including accident, burial, casualty, credit life, contract performance, dental, fidelity, fire, health, hospitalization, illness, life insurance, life endowments and annuities, malpractice, marine, mortgage, surety, and wage protection insurance. See Louisiana Revised Statutes 9:153
  • Intangible property: Property that has no intrinsic value, but is merely the evidence of value such as stock certificates, bonds, and promissory notes.
  • Inter vivos: Transfer of property from one living person to another living person.
  • Interest rate: The amount paid by a borrower to a lender in exchange for the use of the lender's money for a certain period of time. Interest is paid on loans or on debt instruments, such as notes or bonds, either at regular intervals or as part of a lump sum payment when the issue matures. Source: OCC
  • Interment: means the disposition of human remains by inurnment, scattering, entombment, or burial in a place used or intended to be used, and dedicated, for cemetery purposes. See Louisiana Revised Statutes 8:1
  • Interrogatories: Written questions asked by one party of an opposing party, who must answer them in writing under oath; a discovery device in a lawsuit.
  • Intestate: Dying without leaving a will.
  • investment grade: means being rated in one of the four highest categories by at least one nationally recognized rating service. See Louisiana Revised Statutes 6:1223
  • Issued shares: means outstanding shares and treasury shares. See Louisiana Revised Statutes 12:201
  • Issuer: means a financial institution or other person that issues a letter of credit, but does not include an individual who makes an engagement for personal, family, or household purposes. See Louisiana Revised Statutes 10:5-102
  • Jurisprudence: The study of law and the structure of the legal system.
  • Juror: A person who is on the jury.
  • Law clerk: Assist judges with research and drafting of opinions.
  • Lawn crypts: means space for interment in preplaced chambers or burial vaults, either side by side or multiple depth, covered by earth or sod and known also as below-ground crypts, Westminster crypts, or turf top crypts. See Louisiana Revised Statutes 8:1
  • Lawsuit: A legal action started by a plaintiff against a defendant based on a complaint that the defendant failed to perform a legal duty, resulting in harm to the plaintiff.
  • Legal representative: means a personal representative, tutor, or curator. See Louisiana Revised Statutes 9:2260.1
  • Legatee: A beneficiary of a decedent
  • lender credit card: includes a travel and entertainment credit card account that is not subject to loan finance charges or credit service charges. See Louisiana Revised Statutes 9:3516
  • Letter of credit: means a definite undertaking that satisfies the requirements of La. See Louisiana Revised Statutes 10:5-102
  • Levee and drainage district: means a political subdivision of this state organized for the purpose and charged with the duty of constructing and maintaining levees, drainage, and all other things incidental thereto within its territorial limits. See Louisiana Revised Statutes 38:281
  • Levee commissioner: means a member of a board of commissioners of a levee board or a levee and drainage board. See Louisiana Revised Statutes 38:281
  • Levee district: means a political subdivision of this state organized for the purpose and charged with the duty of constructing and maintaining levees, and all other things incidental thereto within its territorial limits. See Louisiana Revised Statutes 38:281
  • Licensed lender: means a person licensed by the commissioner to make consumer loans pursuant to this Chapter. See Louisiana Revised Statutes 9:3516
  • Licensed specialist in school psychology: means any person licensed as a specialist in school psychology who applies his knowledge of both psychology and education during consultation and collaboration with others and engages in specific services for students, such as direct and indirect interventions that focus on academic skills, learning, socialization, and mental health. See Louisiana Revised Statutes 37:2352
  • Licensee: means any person who has been issued an abandoned cemetery sales and management license by the board. See Louisiana Revised Statutes 8:411
  • Litigation: A case, controversy, or lawsuit. Participants (plaintiffs and defendants) in lawsuits are called litigants.
  • Loan finance charge: means the sum of the following:

    (i)  All charges payable directly or indirectly by the consumer and imposed directly or indirectly by the lender as a requirement of the extension of credit, including any of the following types of charges that are applicable: interest or any amount payable under a point, discount, or other system of charges, however denominated; and

    (ii)  Charges paid by the consumer for investigating the collateral or credit worthiness of the consumer. See Louisiana Revised Statutes 9:3516

  • Manufacturer: means every person engaged in the business of designing, manufacturing, constructing or assembling new motor vehicles, trailers or semitrailers. See Louisiana Revised Statutes 47:451
  • Markup: The process by which congressional committees and subcommittees debate, amend, and rewrite proposed legislation.
  • Medical board: means the board of physicians provided for in Louisiana Revised Statutes 11:3682
  • Meeting: means a duly called meeting of the membership of a board when payment of per diem is authorized and such meeting is called for the express purpose of discussing activities or plans pertinent to the functions of the levee board itself. See Louisiana Revised Statutes 38:281
  • Member: means each natural or artificial person admitted to membership in a corporation, and, unless the context indicates otherwise, includes shareholders. See Louisiana Revised Statutes 12:201
  • Member: includes any employees, as defined in Paragraph (16) of this Section, included in the membership of this plan as provided in Louisiana Revised Statutes 11:3682
  • Membership: means an interest in a corporation entitling the holder thereof to participate in the control of the corporation or to a pro rata share of its net assets upon dissolution. See Louisiana Revised Statutes 12:201
  • Membership service: means service as an employee while a member of the Harbor Police Retirement System or this plan. See Louisiana Revised Statutes 11:3682
  • Mineral: means gas, oil, coal, other gaseous liquid and solid hydrocarbons, oil shale, cement material, sand and gravel, road material, building stone, chemical substance, gemstone, fissionable and nonfissionable ores, colloidal and other clay, steam and other geothermal resource, or any other substance defined as a mineral by the law of this state. See Louisiana Revised Statutes 9:153
  • Mineral proceeds: means amounts payable for the extraction, production, or sale of minerals, or, upon the abandonment of those payments, all payments that become payable thereafter. See Louisiana Revised Statutes 9:153
  • Money order: includes an express money order and a personal money order, on which the remitter is the purchaser. See Louisiana Revised Statutes 9:153
  • Mortgage loan: A loan made by a lender to a borrower for the financing of real property. Source: OCC
  • Mortgagee: The person to whom property is mortgaged and who has loaned the money.
  • Mortgagor: The person who pledges property to a creditor as collateral for a loan and who receives the money.
  • Motor vehicle: means every vehicle, as herein defined, which is self propelled. See Louisiana Revised Statutes 47:451
  • Motorcycle: means every motor vehicle designed to travel on not more than three wheels in contact with the ground, except any such vehicles as may be included within the classification "tractor" as herein defined. See Louisiana Revised Statutes 47:451
  • Net assets: means the excess of assets over liabilities. See Louisiana Revised Statutes 12:201
  • Niche: means a space in a columbarium used or intended to be used for inurnment of cremated human remains. See Louisiana Revised Statutes 8:1
  • Nolo contendere: No contest-has the same effect as a plea of guilty, as far as the criminal sentence is concerned, but may not be considered as an admission of guilt for any other purpose.
  • Nominated person: means a person whom the issuer (i) designates or authorizes to pay, accept, negotiate, or otherwise give value under a letter of credit and (ii) undertakes by agreement or custom and practice to reimburse. See Louisiana Revised Statutes 10:5-102
  • nonprofit corporation: means a corporation formed under this Chapter, as well as a corporation formed under the laws of this state before January 1, 1969 but of a class of corporations that might be formed under this Chapter. See Louisiana Revised Statutes 12:201
  • Nonresident: means every person who is not a resident of this state but does not include persons dwelling outside of this state whose occupation or business requires them to spend one-half or more of their working hours in this state in pursuance of their business or employment. See Louisiana Revised Statutes 47:451
  • office: shall mean the Department of Public Safety and Corrections, youth services, office of juvenile justice. See Louisiana Revised Statutes 15:932
  • Open-end credit: A credit agreement (typically a credit card) that allows a customer to borrow against a preapproved credit line when purchasing goods and services. The borrower is only billed for the amount that is actually borrowed plus any interest due. (Also called a charge account or revolving credit.) Source: OCC
  • Organization: means corporation, government or governmental subdivision or agency, trust, estate, partnership, cooperative, or association. See Louisiana Revised Statutes 9:3516
  • Orleans Levee District: shall mean the levee district and political subdivision of the state which is referred to as the "Orleans Levee District" the "Board of Commissioners of the Orleans Levee District" or the "Orleans Levee Board". See Louisiana Revised Statutes 38:281
  • Owner: means a person to whom the cemetery authority has transferred full title to or the right of use of or interment in any cemetery space and who appears as the title holder in the official records of the cemetery authority. See Louisiana Revised Statutes 8:1
  • Owner: means a person who has a legal or equitable interest in property subject to this Chapter or the person's legal representative. See Louisiana Revised Statutes 9:153
  • Owner: means a person who holds the legal title to a vehicle or in the event a vehicle is the subject of an agreement for the conditional sale, lease, or transfer of the possession, howsoever, thereof with right of purchase upon performance of the conditions stated in the agreement and with the right of immediate possession vested in such vendee, lessee, possessor, or in the event such similar transaction is had by means of mortgage and the mortgagor of a vehicle is entitled to possession, then such conditional vendee or lessee or possessor or mortgagor shall be deemed the owner for the purpose of this Chapter. See Louisiana Revised Statutes 47:451
  • Owner: means owner at the time of severance. See Louisiana Revised Statutes 47:634
  • Person: means an individual, corporation, limited liability company, partnership, joint venture, association, trust, or any other legal entity. See Louisiana Revised Statutes 8:1
  • Person: means an individual, business association, estate, trust, partnership, government, governmental subdivision, agency, or instrumentality, public corporation, or any other legal or commercial entity. See Louisiana Revised Statutes 9:153
  • Person: means an individual, corporation, business trust, estate, trust, partnership, joint venture, association, or any other legal or commercial entity. See Louisiana Revised Statutes 9:2260.1
  • Person: means an individual, corporation, business trust, estate, trust, partnership, limited liability company, association, joint venture, governmental agency, public corporation, or any other legal or commercial entity. See Louisiana Revised Statutes 9:2602
  • Person: means any individual, partnership, corporation, or other legal entity, except that only an individual shall be eligible for license or be issued a license under this Chapter. See Louisiana Revised Statutes 37:2651
  • Person: as used in this Chapter means an individual or corporation, partnership, trust, association, joint venture pool, syndicate, sole proprietorship, unincorporated organization, or any other form of entity not specifically listed herein. See Louisiana Revised Statutes 9:3516
  • Person: means every natural person, individual, firm, copartnership, corporation, company, association, or joint stock association or other organization. See Louisiana Revised Statutes 47:451
  • Personal representative: means an executor, administrator, or representative of a decedent's estate, a person legally authorized to perform substantially the same functions, or a successor to any of them. See Louisiana Revised Statutes 9:2260.1
  • Persons: includes an individual, firm, partnership, association, or corporation. See Louisiana Revised Statutes 37:2352
  • Physical therapist: includes equally physiotherapist, physical therapist, and P. See Louisiana Revised Statutes 37:2407
  • Physical therapist assistant: includes equally physical therapist assistant, physiotherapist assistant, and P. See Louisiana Revised Statutes 37:2407
  • Plaintiff: The person who files the complaint in a civil lawsuit.
  • Plan: means the Harbor Police Retirement Plan established in this Subpart and administered as a plan within the Louisiana State Employees' Retirement System pursuant to Louisiana Revised Statutes 11:3682
  • Plea: In a criminal case, the defendant's statement pleading "guilty" or "not guilty" in answer to the charges, a declaration made in open court.
  • Plea agreement: An arrangement between the prosecutor, the defense attorney, and the defendant in which the defendant agrees to plead guilty in exchange for special considerations. Source:
  • Pleadings: Written statements of the parties in a civil case of their positions. In the federal courts, the principal pleadings are the complaint and the answer.
  • Port commission: means the Board of Commissioners of the Port of New Orleans. See Louisiana Revised Statutes 11:3682
  • Precomputed consumer credit transaction: means a consumer credit transaction under which loan finance charges or credit service charges are computed in advance over the entire scheduled term of the transaction and capitalized into the face amount of the debtor's promissory note or other evidence of indebtedness. See Louisiana Revised Statutes 9:3516
  • Presentation: means delivery of a document to an issuer or nominated person for honor or giving of value under a letter of credit. See Louisiana Revised Statutes 10:5-102
  • Pretrial conference: A meeting of the judge and lawyers to discuss which matters should be presented to the jury, to review evidence and witnesses, to set a timetable, and to discuss the settlement of the case.
  • Principal: means the amount financed or amount deferred under a consumer credit transaction. See Louisiana Revised Statutes 9:3516
  • Prior service: means service rendered prior to August 1, 1971 for which credit is allowable as provided in Louisiana Revised Statutes 11:3682
  • Pro rata: as used in this chapter refers to a method of computing deferral charges by dividing the precomputed loan finance charge or precomputed credit service charge by the total number of days in the contract and multiplying the sum by the number of days that are deferred. See Louisiana Revised Statutes 9:3516
  • Probable cause: A reasonable ground for belief that the offender violated a specific law.
  • Probate: Proving a will
  • Probation officers: Screen applicants for pretrial release and monitor convicted offenders released under court supervision.
  • Property: means a fixed and certain interest in intangible property that is held, issued, or owed in the course of a holder's business, or by a government or governmental entity, and all income or increments therefrom. See Louisiana Revised Statutes 9:153
  • Prosecute: To charge someone with a crime. A prosecutor tries a criminal case on behalf of the government.
  • Provisional licensed psychologist: means a person provisionally licensed in accordance with the provisions of this Chapter. See Louisiana Revised Statutes 37:2352
  • Psychologist: means any person licensed as a psychologist in accordance with the provisions of this Chapter. See Louisiana Revised Statutes 37:2352
  • Public law: A public bill or joint resolution that has passed both chambers and been enacted into law. Public laws have general applicability nationwide.
  • Qualified participant: means a member of the system who first became a member before January 1, 1990. See Louisiana Revised Statutes 11:3682
  • Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
  • Recess: A temporary interruption of the legislative business.
  • Reclassification of stock: means amendment of the articles to change the authorized number of shares of an existing class or series; to authorize shares of a new class or series; to change the designation, par value (including change of par-value shares to shares without par value or vice versa), preferences, limitations or relative rights, including cancellation or modification of the right to receive accumulated dividends which have not been declared, or variations in relative rights, of the issued, and authorized but unissued, shares of any existing class or series; or to change the issued shares of any existing class or series into a greater or smaller number of shares of the same class or series (subject to such changes as the reclassification may make in the designation, par value, preferences, limitations or relative rights, or variations in relative rights, thereof) or of another class or series, and to cancel any issued shares in connection with a reduction in the number thereof. See Louisiana Revised Statutes 12:201
  • Record: means information that is inscribed on a tangible medium, or that is stored in an electronic or other medium and is retrievable in perceivable form. See Louisiana Revised Statutes 10:5-102
  • Record: means information that is inscribed on a tangible medium or that is stored in an electronic or other medium and is retrievable in perceivable form. See Louisiana Revised Statutes 9:153
  • Record: means information that is inscribed on a tangible medium or that is stored in an electronic or other medium and is retrievable in perceivable form. See Louisiana Revised Statutes 9:2602
  • Recourse: An arrangement in which a bank retains, in form or in substance, any credit risk directly or indirectly associated with an asset it has sold (in accordance with generally accepted accounting principles) that exceeds a pro rata share of the bank's claim on the asset. If a bank has no claim on an asset it has sold, then the retention of any credit risk is recourse. Source: FDIC
  • Registered office: means that office maintained by the corporation in this state, the address of which is kept on file in the office of the Secretary of State in the manner required by this Chapter. See Louisiana Revised Statutes 12:201
  • Remand: When an appellate court sends a case back to a lower court for further proceedings.
  • Rescission: The cancellation of budget authority previously provided by Congress. The Impoundment Control Act of 1974 specifies that the President may propose to Congress that funds be rescinded. If both Houses have not approved a rescission proposal (by passing legislation) within 45 days of continuous session, any funds being withheld must be made available for obligation.
  • Restitution: The court-ordered payment of money by the defendant to the victim for damages caused by the criminal action.
  • Retirement: means withdrawal from active service with a retirement allowance granted under the provisions of this Subpart. See Louisiana Revised Statutes 11:3682
  • Retirement allowance: means any benefit paid to a member under Louisiana Revised Statutes 11:3682
  • reuse: means the act of removing and disposing of a previously interred casket and the gathering and placing of human remains in an alternative container within the same cemetery space in order to accommodate additional interments. See Louisiana Revised Statutes 8:1
  • Revolving charge account: means an arrangement between a seller or issuer of a seller credit card honored by the seller and a consumer pursuant to which:

    (a)  The creditor permits the consumer to purchase goods or services on a preauthorized basis;

    (b)  The creditor reasonably contemplates repeated transactions;

    (c)  The creditor may impose a credit service charge from time to time on the outstanding unpaid balance of the consumer's account;

    (d)  The amount of credit that may be extended to the consumer, up to any limit set by the creditor, is generally made available to the extent that any outstanding balance is repaid; and

    (e)  No credit service charges may be imposed upon the consumer for a billing period if the account is paid in full within a period of twenty-five days from the billing date. See Louisiana Revised Statutes 9:3516

  • Revolving credit: A credit agreement (typically a credit card) that allows a customer to borrow against a preapproved credit line when purchasing goods and services. The borrower is only billed for the amount that is actually borrowed plus any interest due. (Also called a charge account or open-end credit.) Source: OCC
  • Revolving loan account: means an arrangement between a lender and a consumer pursuant to which:

    (i)  The creditor may permit the consumer to obtain consumer loan advances on a preauthorized basis;

    (ii)  The creditor reasonably contemplates repeated transactions;

    (iii)  The creditor may impose a loan finance charge from time to time on the outstanding unpaid balance of the consumer's account; and

    (iv)  The amount of credit that may be extended to the consumer under the account, up to any limit set by the creditor, is generally made available to the extent that any unpaid balance is repaid. See Louisiana Revised Statutes 9:3516

  • Right of rescission: Right to cancel, within three business days, a contract that uses the home of a person as collateral, except in the case of a first mortgage loan. There is no fee to the borrower, who receives a full refund of all fees paid. The right of rescission is guaranteed by the Truth in Lending Act (TILA). Source: OCC
  • Right of survivorship: The ownership rights that result in the acquisition of title to property by reason of having survived other co-owners.
  • Road machinery: means all vehicles constructed, designed, and used solely for the purpose of constructing, erecting, repairing, maintaining, demolishing or upkeeping of public roads, highways, and bridges, and not including vehicles temporarily or casually so used, constructed, or designed, or vehicles not intended to be so constructed, designed, and used or vehicles merely converted or susceptible to such use occasionally or vehicles so altered as to avoid and evade the registration or classification otherwise properly applicable thereto. See Louisiana Revised Statutes 47:451
  • Sale: means the sale of the full title to any cemetery space or the sale of the right of use of or interment in any cemetery space. See Louisiana Revised Statutes 8:1
  • School system: means any institution or facility which provides for education of children in grades one or above, which may include kindergarten or prekindergarten attached thereto. See Louisiana Revised Statutes 37:2352
  • Secretary: means the secretary of the Department of Culture, Recreation and Tourism or the person designated by the secretary to administer the provisions of this Chapter. See Louisiana Revised Statutes 8:673
  • Seller credit card: means a revolving charge account that may be accessed by use of a credit card. See Louisiana Revised Statutes 9:3516
  • Semitrailer: means every single vehicle without motive power designed for carrying property or passengers and so designed in conjunction and used with a motor vehicle that some part of its own weight and that of its own load rests upon or is carried by another vehicle and having itself one or more load-carrying axles. See Louisiana Revised Statutes 47:451
  • Service: means service rendered as an employee as described in Paragraph (16) of this Section. See Louisiana Revised Statutes 11:3682
  • Service of process: The service of writs or summonses to the appropriate party.
  • Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
  • Severed: means the point at which the natural resources are severed from the surface of the earth or water. See Louisiana Revised Statutes 47:634
  • Share: means an interest in a corporation, represented by a stock certificate issued after payment for the shares represented thereby, entitling the holder thereof to participate in the control of the corporation or to a pro rata share of its net assets upon dissolution. See Louisiana Revised Statutes 12:201
  • Shareholder: means a natural or artificial person who is the owner of a property interest in a corporation represented by a certificate for shares of stock. See Louisiana Revised Statutes 12:201
  • Simple interest transaction: means a consumer credit transaction under which loan finance charges or credit service charges are assessed by application of a contractual simple interest rate or rates to the unpaid balance of the debtor's promissory note, account or other evidence of indebtedness. See Louisiana Revised Statutes 9:3516
  • Sole ownership: The type of property ownership in which one individual holds legal title to the property and has full control of it.
  • Speech-language pathologist: means any person who represents himself to the public by title or by description of services, methods, or procedures as one who offers to provide or provides services involving the application of principles, methods, and procedures of the science and profession of speech-language pathology. See Louisiana Revised Statutes 37:2651
  • Spouse: means that person who is legally married to the member on the member's effective date of retirement or effective date of participation in the Deferred Retirement Option Plan, whichever is earlier. See Louisiana Revised Statutes 11:3682
  • State: means a state of the United States, the District of Columbia, the Commonwealth of Puerto Rico, or any territory or insular possession subject to the jurisdiction of the United States. See Louisiana Revised Statutes 9:153
  • State: means a state, territory, or possession of the United States, the District of Columbia, or the Commonwealth of Puerto Rico. See Louisiana Revised Statutes 9:2260.1
  • State: means this state or another state of the United States, the District of Columbia, Puerto Rico, the United States Virgin Islands, or any territory or insular possession subject to the jurisdiction of the United States. See Louisiana Revised Statutes 9:2602
  • Stated capital: means the aggregate amount of:

    (a)  The aggregate allocated value of the issued shares; and

    (b)  Any other amounts transferred from surplus to stated capital; less

    (c)  Transfers from, or other reductions in, stated capital required or permitted by this Chapter. See Louisiana Revised Statutes 12:201

  • Statute of limitations: A law that sets the time within which parties must take action to enforce their rights.
  • Subpoena duces tecum: A command to a witness to produce documents.
  • Subscriber: means one who subscribes for shares in a corporation, whether before or after incorporation. See Louisiana Revised Statutes 12:201
  • Subtitle: means and includes all the Chapters in Subtitle II of this Title 47 and any other Title of the Louisiana Revised Statutes of 1950 except the provisions of Chapter 1 of Subtitle IV of Title 47 of the Louisiana Revised Statutes of 1950 and estate taxes for the assessment, collection, administration, and enforcement of taxes, fees, licenses, penalties, and interest due the state of Louisiana which have been delegated to the Department of Revenue. See Louisiana Revised Statutes 47:1501
  • Summons: Another word for subpoena used by the criminal justice system.
  • Supervised financial organization: means either of the following:

    (a)  A banking or similar organization organized, certified, and supervised by an agency of either the United States of America or the state of Louisiana or any other state pursuant to the banking, currency, and related laws of the United States of America or of the state of Louisiana or any other state. See Louisiana Revised Statutes 9:3516

  • Surplus: means the excess of assets over liabilities plus stated capital. See Louisiana Revised Statutes 12:201
  • system: means the Louisiana State Employees' Retirement System. See Louisiana Revised Statutes 11:3682
  • Tandem truck: means every motor propelled single vehicle designed for the conveyance of property or things for hauling purposes and having one front or steering axle and two rear or load carrying axles, even though one of said load carrying axles is not permanently affixed to the frame of the vehicle and may be removed therefrom. See Louisiana Revised Statutes 47:451
  • taxidermist: means a person who, for a consideration, mounts, preserves, or otherwise prepares the body of any bird, animal, or fish, or any part thereof, for display. See Louisiana Revised Statutes 9:191
  • Temporary restraining order: Prohibits a person from an action that is likely to cause irreparable harm. This differs from an injunction in that it may be granted immediately, without notice to the opposing party, and without a hearing. It is intended to last only until a hearing can be held.
  • Temporary servitude: means the taking of lands for a limited time period where the lands are returned to the owner without substantial damage or destruction but shall not include barrow areas. See Louisiana Revised Statutes 38:281
  • Testator: A male person who leaves a will at death.
  • Third party right of enforcement: means a right provided in a conservation servitude to enforce any of its terms granted to a governmental body, charitable corporation, charitable association, or charitable trust, which, although eligible to be a holder, is not a holder. See Louisiana Revised Statutes 9:1272
  • tomb: means a structure or building for the entombment of human remains in crypts or vaults in a place used or intended to be used, and dedicated, for cemetery purposes. See Louisiana Revised Statutes 8:1
  • Tort: A civil wrong or breach of a duty to another person, as outlined by law. A very common tort is negligent operation of a motor vehicle that results in property damage and personal injury in an automobile accident.
  • Total voting power: means the entirety of the voting power. See Louisiana Revised Statutes 12:201
  • Trailer: means every single vehicle without motive power designed for carrying property or passengers wholly on its own structure and designed to be drawn by a truck, tractor, or another motor vehicle and having two or more load carrying axles. See Louisiana Revised Statutes 47:451
  • Transaction: means an action or set of actions occurring between two or more persons relating to the conduct of business,  commercial, or governmental affairs. See Louisiana Revised Statutes 9:2602
  • Transferor: means a person who creates a custodial trust by transfer or declaration. See Louisiana Revised Statutes 9:2260.1
  • Treasury shares: means issued shares which have been acquired by and belong to the corporation, if not required by the articles to be cancelled, or if not cancelled by order of the board of directors. See Louisiana Revised Statutes 12:201
  • Trial: A hearing that takes place when the defendant pleads "not guilty" and witnesses are required to come to court to give evidence.
  • Truck: means every motor propelled single vehicle for the conveyance of property or things for hauling purposes and having one front or steering axle and one rear or load carrying axle. See Louisiana Revised Statutes 47:451
  • Trust account: A general term that covers all types of accounts in a trust department, such as estates, guardianships, and agencies. Source: OCC
  • Trust company: means a financial institution, corporation, or other legal entity, authorized to exercise general trust powers. See Louisiana Revised Statutes 9:2260.1
  • Trust instrument: includes any lawful act, agreement, donation, testament or other document, by which the donor, settlor or testator transfers any property in trust, for any charitable, religious, benevolent, educational, scientific or literary purpose, or public benefaction of whatever name or nature. See Louisiana Revised Statutes 12:201
  • Trustee: means the separate legal entity designated as trustee of a cemetery care fund. See Louisiana Revised Statutes 8:1
  • Truth in Lending Act: The Truth in Lending Act is a federal law that requires lenders to provide standardized information so that borrowers can compare loan terms. In general, lenders must provide information on Source: OCC
  • Tutor: means a person appointed or qualified by a court to act as guardian of a minor's property or a person legally authorized to perform substantially the same functions. See Louisiana Revised Statutes 9:2260.1
  • Uniform Commercial Code: A set of statutes enacted by the various states to provide consistency among the states' commercial laws. It includes negotiable instruments, sales, stock transfers, trust and warehouse receipts, and bills of lading. Source: OCC
  • Unmarked burial site: means the immediate area where one or more human skeletal remains are found in the ground that is not in a recognized and maintained municipal, fraternal, religious, or family cemetery, or a cemetery authorized by the Louisiana Cemetery Board. See Louisiana Revised Statutes 8:673
  • Unpaid debt: as used in this Chapter means the total of the amount financed, loan finance charges, default charges, and delinquency charges including the amount due at the time of default plus all interest which may accrue from the time of default until the entire balance is paid. See Louisiana Revised Statutes 9:3516
  • User fees: Fees charged to users of goods or services provided by the government. In levying or authorizing these fees, the legislature determines whether the revenue should go into the treasury or should be available to the agency providing the goods or services.
  • Usury: Charging an illegally high interest rate on a loan. Source: OCC
  • Utility: means a person who owns or operates for public use any plant, equipment, real property, franchise, or license for the transmission of communications or the production, storage, transmission, sale, delivery, or furnishing of electricity, water, steam, or gas. See Louisiana Revised Statutes 9:153
  • Variable Rate: Having a "variable" rate means that the APR changes from time to time based on fluctuations in an external rate, normally the Prime Rate. This external rate is known as the "index." If the index changes, the variable rate normally changes. Also see Fixed Rate.
  • vault: means a space in a mausoleum of sufficient size, used or intended to be used, to entomb human remains. See Louisiana Revised Statutes 8:1
  • Vehicle: means every device in, upon, or by which any person, property, or thing is or may be transported or drawn upon a public highway excepting devices moved by human power or used exclusively upon stationary rails or tracks; provided, that for the purpose of this Chapter, a bicycle or a ridden animal shall not be deemed a vehicle, and provided further that a trailer or semitrailer shall be held and deemed each to be and constitute a separate vehicle. See Louisiana Revised Statutes 47:451
  • Venue: The geographical location in which a case is tried.
  • Verdict: The decision of a petit jury or a judge.
  • Veto: The procedure established under the Constitution by which the President/Governor refuses to approve a bill or joint resolution and thus prevents its enactment into law. A regular veto occurs when the President/Governor returns the legislation to the house in which it originated. The President/Governor usually returns a vetoed bill with a message indicating his reasons for rejecting the measure. In Congress, the veto can be overridden only by a two-thirds vote in both the Senate and the House.
  • Voir dire: The process by which judges and lawyers select a petit jury from among those eligible to serve, by questioning them to determine knowledge of the facts of the case and a willingness to decide the case only on the evidence presented in court. "Voir dire" is a phrase meaning "to speak the truth."
  • Voting member: means a person entitled to vote in accordance with the articles or by-laws. See Louisiana Revised Statutes 12:201
  • Voting power: means the right vested, by law or by the articles or the by-laws, in the members, or in one or more classes of members, to vote in the determination of any particular question or matter coming before meetings of the members. See Louisiana Revised Statutes 12:201
  • Writ of certiorari: An order issued by the Supreme Court directing the lower court to transmit records for a case for which it will hear on appeal.