Terms Used In Louisiana Revised Statutes > Title 3 > Chapter 28 > Part IX - Forestry Product Fairness Act

• 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.
• Commissioner: means the Louisiana commissioner of agriculture and forestry. See Louisiana Revised Statutes 3:4423
• Contract: A legal written agreement that becomes binding when signed.
• Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
• Department: means the Department of Agriculture and Forestry. See Louisiana Revised Statutes 3:1
• 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.
• Forest products: include the following:

  (a)  Products that are derived from woody biomass. See Louisiana Revised Statutes 3:4423

• Incentives: means any tax exemption, tax credit, tax exclusion, tax deduction, rebate, investment, contract, or grant made available by the state to directly support the purchase of forestry products. See Louisiana Revised Statutes 3:4423
• 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}
• Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
• Oversight: Committee review of the activities of a Federal agency or program.
• person: includes a body of persons, whether incorporated or not. See Louisiana Revised Statutes 1:10
• Taxable year: includes , in the case of a return made for a fractional part of a year under the provisions of this Chapter or under regulations prescribed by the collector, the period for which return is made. See Louisiana Revised Statutes 47:98
• Testimony: Evidence presented orally by witnesses during trials or before grand juries.