Terms Used In Louisiana Revised Statutes > Title 12 > Chapter 1 > Part 8 - Directors and Officers

• Accumulated Contributions: shall mean the sum of all the amounts deducted from the compensation of a member and credited to his individual account in the Annuity Savings Account, together with regular interest thereon as provided in Louisiana Revised Statutes 11:3002
• Acquiring person: means either of the following:

  (a)  A person acquiring tax sale title to a tax sale property. See Louisiana Revised Statutes 47:2122

• Actuarial Equivalent: shall mean a benefit of equal value to the accumulated contributions, annuity or benefit as the case may be, when computed upon the basis of such mortality tables as shall be adopted by the Board of Trustees and regular interest. See Louisiana Revised Statutes 11:3002
• Adjudicated property: means property of which tax sale title is acquired by a political subdivision pursuant to Louisiana Revised Statutes 47:2122
• 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.
• Agency: shall mean any governing body employing persons in the Service of the City of Alexandria. See Louisiana Revised Statutes 11:3002
• 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.
• 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.
• 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.
• Beneficiary: shall mean any person designated to receive a retirement allowance, an annuity or other benefit as provided by this Part. See Louisiana Revised Statutes 11:3002
• Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. ^{Source: OCC}
• Board: means the Louisiana Rice Promotion Board. See Louisiana Revised Statutes 3:3531
• Board: shall mean the Board of Trustees provided in Louisiana Revised Statutes 11:3002
• Buyer: means any person who purchases rice at the first point of sale only. See Louisiana Revised Statutes 3:3531
• Chambers: A judge's office.
• City: shall mean the City of Alexandria. See Louisiana Revised Statutes 11:3002
• Clerk of court: An officer appointed by the court to work with the chief judge in overseeing the court's administration, especially to assist in managing the flow of cases through the court and to maintain court records.
• Collection: means collecting and refunding the assessments. See Louisiana Revised Statutes 3:3531
• Commissioner: means the Commissioner of Agriculture for the state of Louisiana. See Louisiana Revised Statutes 3:3531
• Conviction: A judgement of guilt against a criminal defendant.
• Credit report: A detailed report of an individual's credit history prepared by a credit bureau and used by a lender in determining a loan applicant's creditworthiness. ^{Source: OCC}
• Creditable Service: shall mean "Prior Service" plus "Membership Service" for which credit is allowable as provided in Louisiana Revised Statutes 11:3002
• Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
• 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.
• Department: means the Department of Agriculture and Forestry. See Louisiana Revised Statutes 3:1
• Depositor: means a holder of a savings, demand, or other type of deposit account of an association. See Louisiana Revised Statutes 6:703
• Docket: A log containing brief entries of court proceedings.
• Donee: The recipient of a gift.
• Donor: The person who makes a gift.
• Earnable Compensation: shall mean the full amount earned by an employee for a given pay period. See Louisiana Revised Statutes 11:3002
• 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}
• Employee: means any person legally occupying a position in the Service of the City of Alexandria, and shall include the employees of the retirement system created hereunder. See Louisiana Revised Statutes 11:3002
• Employer: shall mean the City of Alexandria or any of its departments and agencies from which any employee receives his compensation. See Louisiana Revised Statutes 11:3002
• 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}
• Financial institution: means a thrift institution, association, commercial bank, or trust company. See Louisiana Revised Statutes 6:703
• Fiscal Year: shall mean the period beginning on January first in any year, and ending on December thirty-first of the same year. See Louisiana Revised Statutes 11:3002
• Fiscal year: means July first through June thirtieth of the following year. See Louisiana Revised Statutes 3:3531
• Fraud: Intentional deception resulting in injury to another.
• 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.
• Handler: means any person engaged in the business of handling rice. See Louisiana Revised Statutes 3:3531
• Hundredweight: means one hundred pounds, excluding tare. See Louisiana Revised Statutes 3:3531
• immovable property: means and includes not only land, city, town and village lots, but all things thereunto pertaining, and all structures and other appurtenances thereto, as pass to the vendee by the conveyance of the land or lot. See Louisiana Revised Statutes 47:1702
• Impaired condition: means a condition in which the assets of an association in the aggregate do not have a fair value equal to the aggregate amount of liabilities of the association. See Louisiana Revised Statutes 6:703
• 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.
• Insured association: means an association, the savings accounts or shares of which are insured by the Federal Savings and Loan Insurance Corporation or its successor. See Louisiana Revised Statutes 6:703
• 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}
• Legal tender: coins, dollar bills, or other currency issued by a government as official money. ^{Source: U.S. Mint}
• Lien: A claim against real or personal property in satisfaction of a debt.
• Louisiana Rice Council: means the Louisiana section of the Rice Council for Market Development. See Louisiana Revised Statutes 3:3531
• Medical Board: shall mean the Board of Physicians provided for in Louisiana Revised Statutes 11:3002
• Member: shall mean any employee in the City service included in the membership of the system as provided in Louisiana Revised Statutes 11:3002
• Membership Service: means service as an employee rendered while a member of the retirement system. See Louisiana Revised Statutes 11:3002
• Miller: means any person engaged within or without the state in the operation of milling rice. See Louisiana Revised Statutes 3:3531
• 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.
• 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.
• One borrower: means any person or entity which is, or which upon the making of a loan becomes, an obligor on a real estate loan or otherwise an obligor to the association, either directly or indirectly. See Louisiana Revised Statutes 6:703
• Ordinance: means :

  (a)  An act of a political subdivision that has the force and effect of law, including but not limited to an ordinance, a resolution, or a motion; or

  (b)  A rule or regulation promulgated by the State Land Office, the division of administration, or by another state agency with authority over adjudicated properties. See Louisiana Revised Statutes 47:2122

• Oversight: Committee review of the activities of a Federal agency or program.
• Owner: means a person who holds an ownership interest that has not been terminated pursuant to Louisiana Revised Statutes 47:2122
• Person: means an individual, partnership, firm, corporation, association or other business unit. See Louisiana Revised Statutes 3:3531
• 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.
• Political subdivision: means any of the following to the extent it has the power to levy ad valorem taxes and conduct tax sales for failure to pay ad valorem taxes:

  (a)  The state. See Louisiana Revised Statutes 47:2122

• Presiding officer: A majority-party Senator who presides over the Senate and is charged with maintaining order and decorum, recognizing Members to speak, and interpreting the Senate's rules, practices and precedents.
• Prior Service: shall mean service rendered prior to August 1, 1948 for which credit is allowable under Louisiana Revised Statutes 11:3002
• Producer: means any person who receives a share in the proceeds from the sale of rice produced in this state. See Louisiana Revised Statutes 3:3531
• Property: includes every form, character and kind of property, real, personal, and mixed, tangible and intangible, corporeal and incorporeal, and every share, right, title or interest therein or thereto, and every right, privilege, franchise, patent, copyright, trade-mark, certificate, or other evidence of ownership or interest; bonds, notes, judgments, credits, accounts, or other evidence of indebtedness, and every other thing of value, in possession, on hand, or under the control, at any time during the calendar year for which taxes are levied, within the State of Louisiana, of any person, firm, partnership, association of persons, or corporation, foreign or domestic whether the same be held, possessed, or controlled, as owner, agent, pledgee, mortgagee, or legal representative, or as president, cashier, treasurer, liquidator, assignee, master, superintendent, manager, sequestrator, receiver, trustee, stakeholder, depository, warehouseman, keeper, curator, executor, administrator, legatee, heir, beneficiary, parent, attorney, usufructuary, mandatary, fiduciary, or other capacity, whether the owner be known or unknown; except in the cases of fire, life, or other insurance companies, the notes, judgments, accounts, and credits of nonresident persons, firms, corporations, partnerships, associations, or companies doing business in the State of Louisiana, originating from the business done in this state, are hereby declared to be property with its situs within this state. See Louisiana Revised Statutes 47:1702
• Real estate loan: means any loan or other obligation secured, as provided for in this Chapter, by immovable property held in full ownership or under a lease extending or renewable automatically for a period of at least five years beyond the date scheduled for the final principal payment of such loan or obligation, or any transaction out of which a mortgage or vendor's privilege is created against such immovable property including but not limited to the purchase of such real estate by an association and the concurrent or immediate sale thereof on installment contract. See Louisiana Revised Statutes 6:703
• Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
• 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}
• Redemptive period: means the period in which a person may redeem property as provided in thethe Louisiana Constitution. See Louisiana Revised Statutes 47:2122
• Regular Interest: shall mean interest compounded annually at such rate as shall be determined by the Board in accordance with Louisiana Revised Statutes 11:3002
• Retirement Allowance: shall mean an annuity for life, as provided in this Part, payable each year in twelve equal monthly installments beginning as of the date fixed by the Board. See Louisiana Revised Statutes 11:3002
• Rice: means all marketable green and dry rough "paddy" rice produced within the state of Louisiana for milling, seed or other commercial purposes. See Louisiana Revised Statutes 3:3531
• Savings account: means an account to which earnings, including interest, is paid or accrued. See Louisiana Revised Statutes 6:703
• Savings liability: means the aggregate amount of savings accounts of depositors and shares of members, plus earnings credited to such accounts, less redemptions and withdrawals. See Louisiana Revised Statutes 6:703
• Send: means either of the following:

  (a)  To deposit in the mail or deliver for transmission by any other commercially reasonable means of communication with postage or cost of transmission provided for, and properly addressed to any address reasonable under the circumstances. See Louisiana Revised Statutes 47:2122

• Service organization: means a corporation in which the shares of stock may be owned by one or more associations, financial institutions, or other persons. See Louisiana Revised Statutes 6:703
• 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.
• Signed: includes using any symbol executed or adopted with present intention to adopt or accept a writing in tangible form. See Louisiana Revised Statutes 47:2122
• System: shall mean the City of Alexandria Employees' Retirement System established and described in Louisiana Revised Statutes 11:3002
• Tax debtor: means , as of the date of determination, the person listed on the tax roll in accordance with Louisiana Revised Statutes 47:2122
• Tax sale: means the sale or adjudication of tax sale title to property pursuant to Louisiana Revised Statutes 47:2122
• Tax sale certificate: means the written notice evidencing a tax sale to be filed in accordance with Louisiana Revised Statutes 47:2122
• Tax sale party: means the tax notice party, the owner of property, including the owner of record at the time of a tax sale, as shown in the conveyance records of the appropriate parish, and any other person holding an interest, such as a mortgage, privilege, or other encumbrance on the property, including a tax sale purchaser, as shown in the mortgage and conveyance records of the appropriate parish. See Louisiana Revised Statutes 47:2122
• Tax sale property: means property for which tax sale title is sold pursuant to Louisiana Revised Statutes 47:2122
• Tax sale title: means the set of rights acquired by a tax sale purchaser or, in the case of adjudicated property, on the applicable political subdivision, pursuant to this Chapter. See Louisiana Revised Statutes 47:2122
• Timberland: as used in this Part , means bona fide timberland being assessed at its use value as defined and determined pursuant to Louisiana Revised Statutes 3:4321
• Trial: A hearing that takes place when the defendant pleads "not guilty" and witnesses are required to come to court to give evidence.
• Withdrawal from Service: shall mean complete severance of employment in the City Service of any member by resignation, dismissal or discharge. See Louisiana Revised Statutes 11:3002
• Withdrawal value: means the amount credited to the shares of a member or to a savings or demand account, less lawful deductions therefrom, as shown on the records of the association. See Louisiana Revised Statutes 6:703
• Writ: A formal written command, issued from the court, requiring the performance of a specific act.
• writing: means information that is inscribed on a tangible medium or which is stored in an electronic or other medium and is retrievable in perceivable form. See Louisiana Revised Statutes 47:2122