Louisiana Revised Statutes 39:366.3 – In this Part, the following words and terms shall have the meanings ascribed in this Section unless the context clearly requires otherwise:
Terms Used In Louisiana Revised Statutes 39:366.3
- 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.
- Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
- 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
- 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.
- Obligation: means an amount which a government may be required legally to meet out of its resources. See Louisiana Revised Statutes 39:2
- person: includes a body of persons, whether incorporated or not. See Louisiana Revised Statutes 1:10
- Program: means a grouping of activities directed toward the accomplishment of a clearly defined objective or set of objectives. See Louisiana Revised Statutes 39:2
In this Part, the following words and terms shall have the meanings ascribed in this Section unless the context clearly requires otherwise:
(1) “Cooperative endeavor” means any agreement including one of cooperative financing, other than a competitive bid or competitively negotiated contract, whether contracted pursuant to Chapter 10 of Title 38 or Chapter 17 of Title 39 of the Louisiana Revised Statutes of 1950 or pursuant to a request for proposals, request for qualifications, solicitation for offers, or other recognized process for competitively seeking qualified contractors, to which the state is a party and pursuant to which the state has obligated state resources, whether funds, credit, property, or things of value of the state to a nonpublic person for the accomplishment of a public purpose or in the public interest, but shall not include projects contained in the comprehensive state capital outlay budget, projects pursuant to the Governor’s Economic Development Rapid Response Program, and integrated coastal protection programs and projects authorized in the annual coastal protection and restoration plan and administered by the Coastal Protection and Restoration Authority.
(2) “Cooperative financing” means any method of financing integral to a cooperative endeavor between and among the state or its agencies and any nonpublic person. Said methods shall include loans, loan guarantees, land write-downs, grants, lease guarantees or any form of financial subsidy or incentive.
(3) “Immediate family” means a person’s children, the spouses of his children, his brothers and their spouses, his sisters and their spouses, his parents, his spouse and the parents of his spouse.
(4) “Litigation settlement” means an action by an official, agent, or employee of the state which results in an obligation of the state to pay money to a person or otherwise to expend state funds, other than claims settled under the provisions of Chapter 16-A of Title 39 or Chapters 10 or 11 of Title 23 of the Louisiana Revised Statutes of 1950, as the result of a claim against the state which may lead to or has led to the filing of a suit against the state which obligation occurs prior to a final judgment of a court of competent jurisdiction on the matter.
(5) “Person” means a natural person or a corporation or other form of entity the organization of which is authorized by law.
Acts 2005, No. 329, §1, eff. Jan. 1, 2006; Acts 2010, No. 734, §4; Acts 2016, No. 430, §5.