Louisiana Revised Statutes 6:1121 – Definitions
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Terms Used In Louisiana Revised Statutes 6:1121
- person: includes a body of persons, whether incorporated or not. See Louisiana Revised Statutes 1:10
For purposes of this Chapter, the following terms shall have the following meanings:
(1) “Credit agreement” means an agreement to lend or forbear repayment of money or goods or to otherwise extend credit, or make any other financial accommodation.
(2) “Creditor” means a financial institution or any other type of creditor that extends credit or extends a financial accommodation under a credit agreement with a debtor.
(3) “Debtor” means a person or entity that obtains credit or seeks a credit agreement with a creditor or who owes money to a creditor.
(4) “Financial institution” means a bank, savings and loan association, savings banks, or credit union authorized to transact business in this state.
Acts 1989, No. 531, §1.