Terms Used In Louisiana Revised Statutes > Title 17 > Chapter 1 > Part VII-A - Summer Enrichment Programs

• Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
• commissioner: shall mean the commissioner of insurance. See Louisiana Revised Statutes 22:1451
• 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.
• Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
• Rate: means that cost of insurance per exposure unit, whether expressed as a single number or as a prospective loss cost, with an adjustment to account for the treatment of loss adjustment expenses, expenses, profit, and variation in expected future loss experience, prior to any application of individual risk variations based on actual past loss or expense considerations, and does not include minimum premiums. See Louisiana Revised Statutes 22:1452