Terms Used In Louisiana Revised Statutes > Title 37 > Chapter 17 - Louisiana Real Estate License Law

• Active licensee: means any currently licensed person whose license has not been transferred to inactive status and who is authorized to act in the capacity of a real estate broker or salesperson as provided for in this Chapter. See Louisiana Revised Statutes 37:1431
• Adult arcade: means any place to which the public is permitted or invited in which coin-operated, slug-operated, or electronically, electrically, or mechanically controlled still or motion picture machines, projectors, or other image-producing devices are regularly maintained to show images to five or fewer persons per machine at any one time, and in which the images so displayed are distinguished or characterized by their emphasis upon matter exhibiting or describing specified sexual activities or specified anatomical areas. See Louisiana Revised Statutes 23:1019.1
• Adult cabaret: means a nightclub, bar, juice bar, restaurant, bottle club, gentleman's club, strip club, or similar commercial establishment, whether or not alcoholic beverages are served, that regularly features any of the following:

              (a) Persons who appear in a state of nudity or seminudity for the purpose of enticing sexual arousal or otherwise sexually excite a patron or customer. See Louisiana Revised Statutes 23:1019.1

• Adult motion picture theater: means a commercial establishment where films, motion pictures, video cassettes, slides, or similar photographic reproductions that are distinguished or characterized by their emphasis upon the exhibition or description of specified sexual activities or specified anatomical areas are regularly shown for any form of consideration. See Louisiana Revised Statutes 23:1019.1
• Adult theater: means a theater, concert hall, auditorium, or similar commercial establishment that, for any form of consideration, regularly features persons who appear in a state of nudity or seminudity or live performances that are characterized by their emphasis upon the exposure of specified anatomical areas or specified sexual activities. See Louisiana Revised Statutes 23:1019.1
• adult video store: means a commercial establishment that, for any form of consideration, has as a significant or substantial portion of its stock-in-trade in, derives a significant or substantial portion of its revenues from, devotes a significant or substantial portion of its interior business or advertising to, or maintains a substantial section of its sales or display space for the sale or rental of any of the following:

              (a) Books, magazines, periodicals, or other printed matter, or photographs, films, motion pictures, video cassettes, compact discs, slides, or other visual representations, that are characterized by their emphasis upon the exhibition or description of specified sexual activities or specified anatomical areas. See Louisiana Revised Statutes 23:1019.1

• AEIC: means the Advance Earned Income Credit. See Louisiana Revised Statutes 23:1018.1
• Agent: means a licensee acting under the provisions of this Chapter in a real estate transaction. See Louisiana Revised Statutes 37:1431
• Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
• Appeal: A request made after a trial, asking another court (usually the court of appeals) to decide whether the trial was conducted properly. To make such a request is "to appeal" or "to take an appeal." One who appeals is called the appellant.
• Appraisal: A determination of property value.
• Arrest: Taking physical custody of a person by lawful authority.
• Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
• Associate broker: means a person who holds a broker's license and who is exclusively affiliated with and sponsored by another licensed real estate broker to participate in any activity described in this Section. See Louisiana Revised Statutes 37:1431
• Attachment: A procedure by which a person's property is seized to pay judgments levied by the court.
• Bankruptcy: Refers to statutes and judicial proceedings involving persons or businesses that cannot pay their debts and seek the assistance of the court in getting a fresh start. Under the protection of the bankruptcy court, debtors may discharge their debts, perhaps by paying a portion of each debt. Bankruptcy judges preside over these proceedings.
• Benefit: means any advantage, profit, privilege, gain, status, account or interest other than wages or salary for work performed that accrues by reason of the employment or an employer policy, plan or practice that includes rights and benefits under a pension plan, insurance coverage, vacation, or employee stock ownership plan. See Louisiana Revised Statutes 23:1017.1
• Buyer: includes a lessee. See Louisiana Revised Statutes 37:1431
• Child: means a person who is less than the maximum age specified for compulsory school attendance as provided in Louisiana Revised Statutes 23:1015.1
• Client: means one who engages the professional advice and services of a licensee as his agent and whose interests are protected by the specific duties and loyalties imposed by that relationship. See Louisiana Revised Statutes 37:1431
• Commission: means the Louisiana Workforce Commission. See Louisiana Revised Statutes 23:1
• Commission: means the Louisiana Real Estate Commission. See Louisiana Revised Statutes 37:1431
• Compensation: means normal or regular base pay, but does not include overtime, per diem, differential pay or any other allowance for expenses incurred. See Louisiana Revised Statutes 23:1017.1
• Deed: The legal instrument used to transfer title in real property from one person to another.
• Dependent: means the person or persons to whom, under the provisions of Part II of this Chapter, compensation shall be paid upon the death of the injured employee. See Louisiana Revised Statutes 23:1021
• Dependent: A person dependent for support upon another.
• Deposition: An oral statement made before an officer authorized by law to administer oaths. Such statements are often taken to examine potential witnesses, to obtain discovery, or to be used later in trial.
• Disability: means a physical or mental impairment, which substantially limits one or more of the major life activities including but not limited to: caring for one's self, walking, hearing, speaking, breathing, learning, performing manual tasks and earning a living. See Louisiana Revised Statutes 23:1017.1
• EITC: means the federal Earned Income Tax Credit. See Louisiana Revised Statutes 23:1018.1
• 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 a natural person who is paid compensation in return for the performance of services. See Louisiana Revised Statutes 23:1015.1
• Employee: means any person employed by any private or public employer including an elected or appointed official. See Louisiana Revised Statutes 23:1017.1
• Employee: means any person who is employed by an employer for compensation in return for the performance of services. See Louisiana Revised Statutes 23:1018.1
• Employee: means any individual employed by a sexually oriented business for remuneration pursuant to a contract for hire but does not include an independent contractor. See Louisiana Revised Statutes 23:1019.1
• Employer: means any person, as provided for in Article 24 of the Civil Code, who in this state pays compensation to an employee in exchange for the performance of services. See Louisiana Revised Statutes 23:1015.1
• Employer: means any Louisiana business establishment that has twenty or more full-time or part-time employees. See Louisiana Revised Statutes 23:1018.1
• Employer: means any entity who is required to pay and has paid into the fund. See Louisiana Revised Statutes 23:1371.1
• 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.
• Equitable: Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy. See damages. A separate court of "equity" could order someone to do something or to cease to do something. See, e.g., injunction. In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases. ^{Source: U.S. Courts}
• Escrow: Money given to a third party to be held for payment until certain conditions are met.
• Essential functions: means the fundamental job duties of the employment position that the person with a disability held. See Louisiana Revised Statutes 23:1017.1
• Executor: A male person named in a will to carry out the decedent
• First responder: means a volunteer engaged in activities involving the Governor's Office of Homeland Security and Emergency Preparedness pursuant to Louisiana Revised Statutes 23:1017.1
• Forgery: The fraudulent signing or alteration of another's name to an instrument such as a deed, mortgage, or check. The intent of the forgery is to deceive or defraud. ^{Source: OCC}
• Franchise agreement: means an agreement whereby one party, the franchisor, authorizes a real estate broker, the franchisee, to use registered trademarks or other advertising tools to create a common identity among several brokers nationally or regionally for marketing purposes. See Louisiana Revised Statutes 37:1431
• Fraud: Intentional deception resulting in injury to another.
• Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
• 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.
• Inactive licensee: means any currently licensed person whose license has been transferred to inactive status and who is not authorized to act in the capacity of a real estate broker or salesperson as provided for in this Chapter. See Louisiana Revised Statutes 37:1431
• Independent contractor: means an individual contracted to perform services for a sexually oriented business on a non-exclusive basis pursuant to a written agreement specifying that the individual is a contractor and not an employee of the sexually oriented business. See Louisiana Revised Statutes 23:1019.1
• 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.
• Individual real estate broker: means an individual person licensed as a real estate broker and does not mean a licensed corporation, limited liability company, or partnership licensed as a real estate broker. See Louisiana Revised Statutes 37:1431
• Injunction: An order of the court prohibiting (or compelling) the performance of a specific act to prevent irreparable damage or injury.
• 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.
• Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). ^{Source: OCC}
• Licensee: means any person who has been issued a license by the commission to participate in any activity described in this Section. See Louisiana Revised Statutes 37:1431
• Listing agent: means a licensee who has obtained a listing of real estate to act as an agent for compensation. See Louisiana Revised Statutes 37:1431
• Listing agreement: means a written document signed by all owners of real estate or their authorized attorney in fact authorizing a broker to offer or advertise real estate described in such document for sale or lease on specified terms for a defined period of time. See Louisiana Revised Statutes 37:1431
• Mold: means any form of multicellular fungi that live on plant or animal matter and in indoor or outdoor environments. See Louisiana Revised Statutes 37:1431
• Nudity: means the exposure of the vulva, penis, testicles, anus, female nipples, or female areola with less than a fully opaque covering. See Louisiana Revised Statutes 23:1019.1
• Office: means the office of workers' compensation administration established pursuant to Louisiana Revised Statutes 23:1021
• Operator: means any individual on the premises of a sexually oriented business authorized to manage the business, exercise overall operational control of the premises, or cause the business to function. See Louisiana Revised Statutes 23:1019.1
• parties: means the employee or his dependent and the employer or his insurer. See Louisiana Revised Statutes 23:1271
• Payor: means the entity responsible, whether by law or contract, for the payment of benefits incurred by a claimant as a result of a work related injury. See Louisiana Revised Statutes 23:1021
• Permanent partial disability: shall mean any permanent condition, whether congenital or due to injury or disease, of such seriousness as to constitute a hindrance or obstacle to obtaining employment, to retention by an employer, or to obtaining re-employment, if the employee becomes unemployed. See Louisiana Revised Statutes 23:1371.1
• Personal property: All property that is not real property.
• Power of attorney: A written instrument which authorizes one person to act as another's agent or attorney. The power of attorney may be for a definite, specific act, or it may be general in nature. The terms of the written power of attorney may specify when it will expire. If not, the power of attorney usually expires when the person granting it dies. ^{Source: OCC}
• Probable cause: A reasonable ground for belief that the offender violated a specific law.
• Property management: means the marketing, leasing, or overall management of real property for others for a fee, commission, compensation, or other valuable consideration. See Louisiana Revised Statutes 37:1431
• Property manager: means one who, for a fee, commission, or other valuable consideration, manages real estate, including the collection of rents, supervision of property maintenance, and accounting for fees received for another. See Louisiana Revised Statutes 37:1431
• Prosecute: To charge someone with a crime. A prosecutor tries a criminal case on behalf of the government.
• Qualifying broker: means the sponsoring broker for a licensed corporation, limited liability company, or partnership and is the individual real estate broker designated by a licensed corporation, limited liability company, or partnership, by resolution, as its representative in all matters relating to its real estate business activities in Louisiana and in administrative and regulatory matters before the commission. See Louisiana Revised Statutes 37:1431
• Quorum: The number of legislators that must be present to do business.
• Real estate: shall mean and include condominiums and leaseholds, as well as any other interest in land, with the exceptions of oil, gas and other minerals and whether the real estate is situated in this state or elsewhere. See Louisiana Revised Statutes 37:1431
• Real estate activity: means any activity relating to any portion of a real estate transaction performed for another by any person, partnership, limited liability company, association, or corporation, foreign or domestic, whether pursuant to a power of attorney or otherwise, who for a fee, commission, or other valuable consideration or with the intention, in the expectation, or upon the promise of receiving or collecting a fee, commission, or other valuable consideration:

              (a) Sells, exchanges, purchases, manages, rents, or leases or negotiates the sale, exchange, purchase, rental, or leasing of real estate. See Louisiana Revised Statutes 37:1431

• real estate broker: means a licensed real estate broker performing activities as an individual real estate broker, a sponsoring broker or designated qualifying broker, or a corporation, partnership, or limited liability company which has been granted a real estate license through a designated qualifying broker. See Louisiana Revised Statutes 37:1431
• Real estate continuing education vendor: means any school, place, individual, or institution certified by the Louisiana Real Estate Commission which offers courses or seminars in real estate and related subjects to fulfill continuing education requirements for license or certificate renewal purposes. See Louisiana Revised Statutes 37:1431
• Real estate salesperson: means a person, other than an associate broker, sponsored by a licensed real estate broker to participate in any activity described in this Section. See Louisiana Revised Statutes 37:1431
• Real estate school: includes any place or institution certified by the commission which is open to the public for the instruction or training of individuals to engage in the selling of real estate. See Louisiana Revised Statutes 37:1431
• Real estate transaction: means the selling, offering for sale, buying, offering to buy, soliciting for prospective purchasers, managing, offering to manage, leasing, offering to lease, renting, or offering to rent any real estate or improvements thereon, or any business or other entity whose assets include real estate or leases of real estate. See Louisiana Revised Statutes 37:1431
• Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
• Reasonable accommodation: means those actions taken by the employer including but not limited to training, changes to work schedule, job reassignment or modification, or physical modification to the work station that do not place an undue hardship on the employer or pose a direct threat or significant risk to the health and safety of the individual or others. See Louisiana Revised Statutes 23:1017.1
• 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}
• Representative: shall include , but not be limited to, third party administrators, attorneys, or adjusting firms of the party filing the claim on behalf of the employer, insurer or group self-insurance fund. See Louisiana Revised Statutes 23:1371.1
• School: means an accredited public or private educational institution that provides educational services to children of compulsory attendance age. See Louisiana Revised Statutes 23:1015.1
• Secretary: means the secretary of the commission. See Louisiana Revised Statutes 23:1
• Seller: includes a lessor. See Louisiana Revised Statutes 37:1431
• Seminudity: means any of the following:

              (i) Exposure of the female breast below a horizontal line across the top of the areola and extending across the width of the breasts at that point including the lower portion of the breasts. See Louisiana Revised Statutes 23:1019.1

• Sexually oriented business: means any business that is part of the sex industry that offers services that include the exposure of specified anatomical areas or specified sexual activities, or the purchase of erotic paraphernalia. See Louisiana Revised Statutes 23:1019.1
• Sponsoring broker: means any individual real estate broker who sponsors associate brokers or real estate salespersons who participate in any activity described in this Section. See Louisiana Revised Statutes 37:1431
• Subagent: means a licensee, other than a listing agent or a buyer's agent, who acts in cooperation with a listing agent in a real estate transaction. See Louisiana Revised Statutes 37:1431
• Subpoena duces tecum: A command to a witness to produce documents.
• Testify: Answer questions in court.
• Timeshare developer: means an individual, partnership, limited liability company, corporation, or other legal entity, or the successor or assignee thereof, who creates a timeshare plan or who is in the business of making sales of timeshare interests which it owns or purports to own. See Louisiana Revised Statutes 37:1431
• Timeshare interest salesperson: means a person who directly sells or offers to sell any timeshare interest. See Louisiana Revised Statutes 37:1431
• Timeshare registrant: means timeshare interest salespersons or timeshare developers registered by the commission. See Louisiana Revised Statutes 37:1431
• Trustee: A person or institution holding and administering property in trust.
• Uphold: The decision of an appellate court not to reverse a lower court decision.