Terms Used In Louisiana Revised Statutes > Title 11 > Subtitle II > Chapter 2 - Teachers' Retirement System of Louisiana

• Accumulated contributions: means the sum of all regular contributions, plus regular interest thereon, placed to the credit of the participant in the annuity savings account. See Louisiana Revised Statutes 11:951.1
• Accumulated contributions: means the sum of all the amounts deducted from the compensation of a member and credited to his individual account. See Louisiana Revised Statutes 11:952.1
• Activity: means a distinct subset of functions or services within a program. See Louisiana Revised Statutes 39:2
• Actuarial equivalent: means a benefit of equivalent value to the accumulated contributions, annuity, or benefits, as the case may be, computed on the basis of interest and mortality assumptions adopted in accordance with the provisions of Louisiana Revised Statutes 11:701
• Actuarial equivalent: means a benefit of equal value when computed upon the basis of the mortality tables adopted by the board of trustees plus regular interest. See Louisiana Revised Statutes 11:951.1
• Actuarial equivalent: means a benefit of equal value, when computed upon the basis of mortality tables adopted by the board of supervisors and regular interest. See Louisiana Revised Statutes 11:952.1
• Actuarial equivalent: means a benefit of equivalent value to the accumulated contributions, annuity, or benefits, as the case may be, computed upon the basis of such interest and mortality assumptions as are adopted by the board or provided in law. See Louisiana Revised Statutes 11:3682
• Advance fee: means any consideration which is assessed or collected prior to the issuance of a written commitment to make a loan that is binding on the lender, provided that certain conditions precedent are satisfied. See Louisiana Revised Statutes 9:3574.2
• Advertisement: means a commercial message in any medium that aids, promotes, or assists, directly or indirectly, a rental-purchase agreement. See Louisiana Revised Statutes 9:3352
• 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.
• Affiliate: as used in this Chapter , means a specific person who is directly or indirectly, through one or more intermediaries, controlled by, or controls, or is under common control with the person specified. See Louisiana Revised Statutes 9:3516
• Agency: means any state office, department, board, commission, institution, division, officer or other person, or functional group, heretofore existing or hereafter created, that is authorized to exercise, or that does exercise, any functions of the government of the state in the executive branch, but not any governing body or officer of any local government or subdivision of the state, or any parochial officer who exercises functions coterminous with the municipality in which he performs those functions. See Louisiana Revised Statutes 39:2
• Agreement: means the agreement or agreements, as authorized under this Subpart, between the state of Louisiana, as the seller, and the corporation, as the purchaser, of the tobacco assets. See Louisiana Revised Statutes 39:99.3
• Agreement: means the agreement or agreements, as authorized under this Subpart, between the state of Louisiana, as the seller, and the corporation, as the purchaser, of the revenue assets. See Louisiana Revised Statutes 39:99.27
• Agricultural products: includes products such as horticultural, and dairy products, livestock, wildlife, poultry, bees, forest products, fish and shell fish, and any products thereof, including processed and manufactured products, and any and all products raised or produced on farms and any processed or manufactured products thereof. See Louisiana Revised Statutes 9:3516
• Agricultural purpose: means a purpose related to the production, harvest, exhibition, marketing, transportation, processing, or manufacture of agricultural products by a natural person who cultivates, plants, propagates or nurtures the agricultural products. See Louisiana Revised Statutes 9:3516
• Allegation: something that someone says happened.
• Allocation fund: shall mean the Coronavirus Local Recovery Allocation Fund. See Louisiana Revised Statutes 39:100.42
• Allocation program: shall mean the Local Recovery Allocation Program administered by the commissioner of administration and GOHSEP. See Louisiana Revised Statutes 39:100.42
• Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
• Amount deferred: means the cash price, subtracting any down payment, under a consumer credit sale, revolving charge or seller credit card account, plus any other charges, fees and closing costs authorized by law, that are financed by the creditor under the transaction or included in or added to the balance of the consumer's indebtedness subject to credit service charges. See Louisiana Revised Statutes 9:3516
• Amount financed: means the amount borrowed under a consumer loan, revolving loan or lender credit card account, plus any other charges, fees, and closing costs authorized by law, that are financed by the creditor under the transaction, or included in or added to the balance of the consumer's indebtedness subject to loan finance charges. See Louisiana Revised Statutes 9:3516
• Ancillary contracts: means contracts described in Louisiana Revised Statutes 39:99.3
• Ancillary contracts: means contracts described in Louisiana Revised Statutes 39:99.27
• Annual percentage rate: The cost of credit at a yearly rate. It is calculated in a standard way, taking the average compound interest rate over the term of the loan so borrowers can compare loans. Lenders are required by law to disclose a card account's APR. ^{Source: FDIC}
• 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.
• Annuity: means payments for life derived from the "accumulated contributions" of a member. See Louisiana Revised Statutes 11:701
• Annuity: means annual payments for life, payable in equal monthly installments, derived from the accumulated contributions placed to the credit of the participant in the annuity reserve account. See Louisiana Revised Statutes 11:951.1
• Annuity reserve: means the present value of all payments to be made on account of an annuity or benefit in lieu of any annuity computed upon the basis of such mortality tables accepted by the board of trustees, plus regular interest. See Louisiana Revised Statutes 11:951.1
• Answer: The formal written statement by a defendant responding to a civil complaint and setting forth the grounds for defense.
• Appellate: About appeals; an appellate court has the power to review the judgement of another lower court or tribunal.
• Appraisal: A determination of property value.
• Appropriation: means an authorization by the legislature to a budget unit for a program to expend from public funds a sum of money, for purposes designated, under the procedure prescribed in this Chapter. See Louisiana Revised Statutes 39:2
• Aquaculture: means the producing, raising, managing, harvesting, transporting, or marketing of aquatic livestock in privately owned waters or ponds as defined in Louisiana Revised Statutes 3:559.3
• Aquatic livestock: means domestic aquatic, nongame, native, freshwater organisms produced, raised, managed, or harvested within or from a constructed impoundment in compliance with rules and regulations adopted pursuant to this Part. See Louisiana Revised Statutes 3:559.3
• Aquatic producer: means any person engaged in producing, raising, managing, harvesting, or marketing aquatic livestock. See Louisiana Revised Statutes 3:559.3
• Arrest: Taking physical custody of a person by lawful authority.
• association: means a corporation, or unincorporated association, owned by or composed of the unit owners and through which the unit owners manage and regulate the condominium. See Louisiana Revised Statutes 9:1121.103
• Attachment: A procedure by which a person's property is seized to pay judgments levied by the court.
• average compensation: means his average earnable compensation for the five highest successive years of employment, or the highest five successive joined years where interruption of service occurred. See Louisiana Revised Statutes 11:701
• Average final compensation: means the average annual earned compensation of an employee for any period of thirty-six successive or joined months of service as an employee during which the said earned compensation was the highest. See Louisiana Revised Statutes 11:3682
• Average regular compensation: means the average annual rate of regular compensation of a member for any period of thirty-six successive months ending with full month's pay of service as an employee during which said earned compensation was the highest. See Louisiana Revised Statutes 11:952.1
• Bail: Security given for the release of a criminal defendant or witness from legal custody (usually in the form of money) to secure his/her appearance on the day and time appointed.
• 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.
• Bench trial: Trial without a jury in which a judge decides the facts.
• 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}
• Beneficiary: means the eligible recipient of a pension, annuity, retirement allowance, or other benefit provided in this Chapter. See Louisiana Revised Statutes 11:701
• Beneficiary: means any person in receipt of a pension, an annuity, a retirement allowance or other benefits provided for in this Part. See Louisiana Revised Statutes 11:951.1
• Beneficiary: means any person in receipt of a retirement allowance or other benefit provided for in this part. See Louisiana Revised Statutes 11:952.1
• Beneficiary: means any person designated to receive a pension, an annuity, a retirement allowance, or other benefit as provided by this Subpart. See Louisiana Revised Statutes 11:3682
• Bequest: Property gifted by will.
• billing cycle: means the time interval between regular periodic billing statement dates. See Louisiana Revised Statutes 9:3516
• Board: means the Louisiana Board of Animal Health. See Louisiana Revised Statutes 3:561
• Board: means the Louisiana Board of Animal Health augmented by the persons named in Louisiana Revised Statutes 3:663
• Board: shall mean the Louisiana Strawberry Marketing Board. See Louisiana Revised Statutes 3:730.2
• Board: means the board of trustees of the Assessors' Retirement Fund. See Louisiana Revised Statutes 11:1402
• board: means the board provided for in Louisiana Revised Statutes 11:3682
• Board: means the board of the corporation. See Louisiana Revised Statutes 39:99.3
• Board: means the board of the corporation. See Louisiana Revised Statutes 39:99.27
• Board of supervisors: means the Board of Supervisors of Louisiana State University and Agricultural and Mechanical College. See Louisiana Revised Statutes 11:952.1
• Board of trustees: means the board provided for in Part V of this Chapter to administer the retirement system. See Louisiana Revised Statutes 11:701
• Board of trustees: means and includes the members of the board of trustees of the retirement system. See Louisiana Revised Statutes 11:951.1
• Bonds: means tobacco bonds and refunding bonds, notes and other evidences of indebtedness issued by the corporation pursuant to this Subpart. See Louisiana Revised Statutes 39:99.3
• Bonds: means bonds and refunding bonds, notes, and other evidences of indebtedness issued by the corporation pursuant to this Subpart. See Louisiana Revised Statutes 39:99.27
• Borrower: means a person obtaining or desiring to obtain a loan of money, a credit card, or a line of credit. See Louisiana Revised Statutes 9:3574.2
• Brand: means an identification mark hot or cold branded into or onto the hide of a live animal. See Louisiana Revised Statutes 3:731
• Budget request: means the document with its accompanying explanations, in which a budget unit states its financial requirements and requests appropriations. See Louisiana Revised Statutes 39:2
• Budget unit: means any spending agency of the state which is declared to be a budget unit by the division of administration and which is identified for accounting purposes by a five-digit number code. See Louisiana Revised Statutes 39:2
• Buyer: means an individual who is solicited to purchase or who purchases the services of a credit repair services organization. See Louisiana Revised Statutes 9:3573.2
• CARES Act: shall mean the Coronavirus Aid, Relief, and Economic Security Act, Public Law 116-136 and any guidance or regulations issued by the United States Department of the Treasury as of the date of this Act or thereafter relative to the CARES Act. See Louisiana Revised Statutes 39:100.42
• Case: means a standard thirty dozen egg case. See Louisiana Revised Statutes 3:836
• Cash advance: means an advance of cash or a cash equivalent under a lender credit card account including but not limited to the purchase of a money order, wire transfer services, or the use of a convenience check to purchase goods or services. See Louisiana Revised Statutes 9:3516
• Cash price: means the price at which the lessor would have sold the property to the consumer for cash on the date of the rental-purchase agreement. See Louisiana Revised Statutes 9:3352
• Chambers: A judge's office.
• Charter: means the charter for livestock market operations authorized under this Part. See Louisiana Revised Statutes 3:663
• Check: means any check, draft, item, orders or requests for payment of money, negotiable orders, withdrawal or any other instrument used to pay a debt or transfer money from one to another. See Louisiana Revised Statutes 9:3516
• Church: means a nonprofit religious organization made up of a group of religious believers. See Louisiana Revised Statutes 12:1854
• 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.
• Closing date: means the date of delivery of the first issue of tobacco bonds. See Louisiana Revised Statutes 39:99.3
• Closing date: means the date of delivery of the first issue of bonds. See Louisiana Revised Statutes 39:99.27
• commission: means the Judiciary Commission provided for by Louisiana Revised Statutes 13:32
• Commission: means the Livestock Brand Commission. See Louisiana Revised Statutes 3:731
• Commission: means the Louisiana Egg Commission. See Louisiana Revised Statutes 3:836
• Commissioner: means the commissioner of the office of financial institutions. See Louisiana Revised Statutes 9:3578.3
• Commissioner: means the Louisiana commissioner of agriculture and forestry. See Louisiana Revised Statutes 3:559.3
• Commissioner: means the Louisiana commissioner of agriculture and forestry. See Louisiana Revised Statutes 3:663
• Commissioner: shall mean the commissioner of agriculture and forestry. See Louisiana Revised Statutes 3:730.2
• Commissioner: means the commissioner of agriculture. See Louisiana Revised Statutes 3:731
• Commissioner: means the Louisiana commissioner of agriculture and forestry. See Louisiana Revised Statutes 3:836
• Commissioner: means the commissioner of financial institutions. See Louisiana Revised Statutes 9:3516
• Commissioner: shall mean the commissioner of the division of administration of the state. See Louisiana Revised Statutes 39:100.42
• Common elements: means the portion of the condominium property not a part of the individual units. See Louisiana Revised Statutes 9:1121.103
• Common expenses: means :

  (a)  Expenses of administration, maintenance, repair, and replacement of the common elements. See Louisiana Revised Statutes 9:1121.103

• Common law: The legal system that originated in England and is now in use in the United States. It is based on judicial decisions rather than legislative action.
• Compensation: means a payment of money, objects, services, or anything else having monetary value. See Louisiana Revised Statutes 9:2718.1
• Complaint: A written statement by the plaintiff stating the wrongs allegedly committed by the defendant.
• Condominium parcel: means a unit together with the undivided interest in the common elements which is an inseparable component part of the unit. See Louisiana Revised Statutes 9:1121.103
• Condominium property: means all interests in land, improvements thereon, and all servitudes and rights attaching to the condominium. See Louisiana Revised Statutes 9:1121.103
• Conduit individual retirement account: means an account which is covered by the provisions of Section 408(a) of the United States Internal Revenue Code, provided the account only contains assets rolled over to the account as an eligible rollover distribution from a qualified plan, plus earnings on those assets, but does not contain any other assets. See Louisiana Revised Statutes 11:701
• Consent decree: means the settlement agreement and related documents between the state of Louisiana and other gulf coast states, the United States, and BP Exploration & Production Inc. See Louisiana Revised Statutes 39:99.27
• Constituent entity: means each entity that is a party to a merger or consolidation under this Chapter. See Louisiana Revised Statutes 9:3441
• Consumer: means a natural person who rents personal property under a rental-purchase agreement to be used primarily for personal, family, or household purposes. See Louisiana Revised Statutes 9:3352
• Consumer: means a natural person who purchases goods, services, or movable or immovable property or rights therein, for a personal, family, or household purpose and includes a purchaser or buyer in a consumer credit sale or transaction made with the use of a seller credit card or otherwise, or a borrower or debtor in a consumer loan, revolving loan account, or a lender credit card. See Louisiana Revised Statutes 9:3516
• Consumer credit insurance: means insurance, other than insurance on property, by which the satisfaction of debt in whole or in part is a benefit provided, but does not include

  (a)  insurance issued as an isolated transaction on the part of the insurer not related to an agreement or plan for insuring debtors of the creditor; or

  (b)  insurance indemnifying the creditor against loss due to the debtor's default. See Louisiana Revised Statutes 9:3516

• Consumer credit transaction: means a consumer loan or a consumer credit sale but does not include a motor vehicle credit transaction made pursuant to Louisiana Revised Statutes 9:3516
• Consumer loan: means a loan of money or its equivalent made by a supervised financial organization, a licensed lender, or lender in which the debtor is a consumer, and the loan is entered into primarily for personal, family, or household purposes and includes debts created by the use of a lender credit card, revolving loan account, or similar arrangement, as well as insurance premium  financing. See Louisiana Revised Statutes 9:3516
• Consummation: means the time when a consumer becomes contractually obligated on a rental-purchase agreement. See Louisiana Revised Statutes 9:3352
• Continuance: Putting off of a hearing ot trial until a later time.
• control: means exercising the power to make policy decisions and "operate" means being actively involved in the day-to-day management of the business. See Louisiana Revised Statutes 39:100.42
• Corporation: means the Tobacco Settlement Financing Corporation created pursuant to this Subpart. See Louisiana Revised Statutes 39:99.3
• Corporation: means the Coastal Protection and Restoration Financing Corporation created pursuant to this Subpart. See Louisiana Revised Statutes 39:99.27
• Court reporter: A person who makes a word-for-word record of what is said in court and produces a transcript of the proceedings upon request.
• Credit card: means any card, plate, coupon book, or other single credit device that may be used from time to time to obtain credit. See Louisiana Revised Statutes 9:3516
• Credit repair services organization: means a person who, with respect to a buyer, in return for the payment of money or other valuable consideration, directly or indirectly, provides or represents that he can or will, directly or indirectly, provide any of the following services:

  (a)  Improving a buyer's credit record, history, or rating. See Louisiana Revised Statutes 9:3573.2

• 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}
• Credit Score: A number, roughly between 300 and 800, that measures an individual's credit worthiness. The most well-known type of credit score is the FICO score. This score represents the answer from a mathematical formula that assigns numerical values to various pieces of information in your credit report. ^{Source: OCC}
• Credit service charge: means the sum of the following:

  (i)  All charges payable directly or indirectly by the consumer and imposed directly or indirectly by the seller as an incident to the extension of credit, including any of the following types of charges that are applicable: time price differential; service; carrying or other charge, however denominated; premium or other charge for any guarantee or insurance protecting the seller against the consumer's default or other credit loss; and

  (ii)  Charges paid by the consumer for investigating the collateral or credit worthiness of the consumer or for commissions or brokerage for obtaining the credit, irrespective of the person to whom the charges are paid or payable, unless the seller had no notice of the charges when the credit was granted. See Louisiana Revised Statutes 9:3516

• Creditable service: means "Prior Service" plus "Membership Service" for which credit is allowable as provided in Part III of this Chapter. See Louisiana Revised Statutes 11:701
• Creditable service: means prior service plus subsequent service for which credit is allowable as provided for in this Part. See Louisiana Revised Statutes 11:951.1
• Creditable service: means service for which credit is allowable as provided in Louisiana Revised Statutes 11:3682
• Credited service: means service for which credit is allowable as provided in Louisiana Revised Statutes 11:952.1
• creditor: as used in this Chapter includes a seller in a consumer credit sale, revolving charge account, or transaction made with the use of a seller credit card or otherwise, or a lender in a consumer loan, a revolving loan account, or a lender credit card transaction. See Louisiana Revised Statutes 9:3516
• Decedent: A deceased person.
• Declarant: means :

  (a)  If the condominium has not yet been created, any person who offers to dispose of or disposes of his interest in a unit not previously disposed of; or

  (b)  If the condominium has been created, any person who has executed a declaration, or an amendment to a declaration to add additional property to the condominium regime, other than persons holding interests in the property solely as security for a debt or persons whose interest in the property will not be conveyed to unit owners. See Louisiana Revised Statutes 9:1121.103

• declaration: means the instrument by which immovable property is made subject to this Part. See Louisiana Revised Statutes 9:1121.103
• Deed: The legal instrument used to transfer title in real property from one person to another.
• Deferred presentment transaction: means a transaction made pursuant to a written agreement whereby a licensee:

  (a)  Accepts a check from the issuer dated as of the date it was written;

  (b)  Agrees to hold the check for a period of time not to exceed thirty days prior to negotiation or presentment; and

  (c)  Pays to the issuer of the check the amount of the check less the fee permitted in Louisiana Revised Statutes 9:3578.3

• Defined benefit plan: means a pension plan established and maintained by an employer primarily to provide systematically for the payment of definitely determinable benefits to employees over a period of years after retirement based upon factors such as years of service and compensation received by employees. See Louisiana Revised Statutes 11:3682
• Defined contribution plan: means a pension plan established and maintained by an employer which provides benefits based upon amounts contributed to an employee's individual account, plus any earnings allocated to the account, for distribution to the employee or his beneficiary either at retirement, after a fixed number of years, or upon the occurrence of some special event. See Louisiana Revised Statutes 11:3682
• Department: means the Department of Agriculture and Forestry. See Louisiana Revised Statutes 3:1
• Department: means the Department of Insurance. See Louisiana Revised Statutes 12:1854
• Department: means the Louisiana Department of Agriculture and Forestry. See Louisiana Revised Statutes 3:559.3
• Department: shall mean the Department of Agriculture and Forestry. See Louisiana Revised Statutes 3:730.2
• Department: means the Louisiana Department of Agriculture and Forestry. See Louisiana Revised Statutes 3:836
• Dependent: A person dependent for support upon another.
• Deposition: An oral statement made before an officer authorized by law to administer oaths. Such statements are often taken to examine potential witnesses, to obtain discovery, or to be used later in trial.
• Derivative instrument: means a contract whose value is based on the performance of an underlying financial asset, index, or other investment. See Louisiana Revised Statutes 39:99.27
• Devise: To gift property by will.
• Direct rollover: means a payment by the system to the eligible retirement plan specified by the distributee. See Louisiana Revised Statutes 11:3682
• Director: means the director of the commission. See Louisiana Revised Statutes 3:731
• Distributee: means a member or former member. See Louisiana Revised Statutes 11:3682
• Docket: A log containing brief entries of court proceedings.
• Donee: The recipient of a gift.
• Down payment: means an amount, including the value of any property used as a trade-in, paid to a seller to reduce the cash price of goods or services purchased under a consumer credit sale. See Louisiana Revised Statutes 9:3516
• DWH NRD assets: means all rights, title, and interest in and to the portion of the state allocation of DWH natural resource damages as set forth in the consent decree that may be sold to the corporation from time to time. See Louisiana Revised Statutes 39:99.27
• DWH NRD bonds: means the bonds, notes, and other obligations issued by the corporation, exclusive of bonds that the corporation may issue to refund bonds, the net proceeds, after financing costs, of the first issue of which shall be used by the corporation to pay a portion of the purchase price to the state of Louisiana to purchase the DWH NRD assets. See Louisiana Revised Statutes 39:99.27
• DWH NRD payments: means the monies paid or payable for natural resource damages, pursuant to the consent decree, to the corporation and the agreement as in effect from time to time. See Louisiana Revised Statutes 39:99.27
• Earnable compensation: means the compensation earned by a member during the full normal working time as a teacher. See Louisiana Revised Statutes 11:701
• Earnable compensation: means the full rate of the compensation that would be payable to a participant if he worked the full normal working time during the year. See Louisiana Revised Statutes 11:951.1
• Earned compensation: means the full amount of compensation earned by an employee for a given month, but shall not include overtime. See Louisiana Revised Statutes 11:3682
• Egg products: means shell eggs, whether in cooked, dried, frozen, liquid, or raw form, and any product made from shell eggs, egg whites, egg yolks, or any combination thereof. See Louisiana Revised Statutes 3:836
• Eggs: means pullet and hen eggs only. See Louisiana Revised Statutes 3:836
• 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}
• Eligible business: means a for-profit corporation, a limited liability company, a partnership, or a sole proprietorship that meets all of the following criteria:

              (a) Was domiciled in Louisiana as of March 1, 2020. See Louisiana Revised Statutes 39:100.42

• Eligible retirement plan: means an individual retirement account described in Section 408(a), an individual retirement annuity described in Section 408(b), an annuity plan described in Section 403(a), or a qualified trust described in Section 401(a), all of the Internal Revenue Code, that accepts the member's eligible rollover distribution. See Louisiana Revised Statutes 11:3682
• Eligible rollover distribution: means a distribution as defined in Louisiana Revised Statutes 11:701
• Eligible rollover distribution: means any distribution of all or any portion of the balance to the credit of a member, except that an eligible rollover distribution does not include any distribution that is one of a series of substantially equal periodic payments not less frequently than annually, made for the life or life expectancy of the member or the joint lives or joint life expectancies of the member and the member's designated beneficiary, or for a specified period of ten years or more, or any distribution to the extent such distribution is required under Section 401(a)(9) of the Internal Revenue Code, or the portion of any distribution that is not includable in gross income. See Louisiana Revised Statutes 11:3682
• Employee: means any person regularly employed in any capacity under the control of the Orleans Parish School Board who is not a teacher or whose legal employment does not require the holding of a teacher's certificate, including employees of the public school lunch department, all skilled and unskilled employees of the maintenance department, managers, custodians, subcustodians, and others who are not temporarily employed, and are paid out of funds under the control of the Orleans Parish School Board, who are not now eligible for membership in any other retirement system created or established by the State of Louisiana or any of its political subdivisions. See Louisiana Revised Statutes 11:951.1
• Employee: means a person employed in any classification of University employees other than a student, and the word "student" includes a graduate assistant, medical intern, and medical resident. See Louisiana Revised Statutes 11:952.1
• Employee: means any commissioned member or employee of the Harbor Police Department of the Port of New Orleans prior to July 1, 2004, or any commissioned member of the Harbor Police Department of the Port of New Orleans on or after July 1, 2004 and hired on or before June 30, 2014. See Louisiana Revised Statutes 11:3682
• Employer: means the state of Louisiana, any city, parish, or other local school board, the State Board of Elementary and Secondary Education, any board created by La. See Louisiana Revised Statutes 11:701
• Employer: means the Board of Commissioners of the Port of New Orleans. See Louisiana Revised Statutes 11:3682
• En banc: In the bench or "full bench." Refers to court sessions with the entire membership of a court participating rather than the usual quorum. U.S. courts of appeals usually sit in panels of three judges, but may expand to a larger number in certain cases. They are then said to be sitting en banc.
• Encumbrance: means any lien, privilege, judgment, mortgage, pledge, pawn, claim, charge, or any other encumbrance of like nature. See Louisiana Revised Statutes 3:1
• Enrolled bill: The final copy of a bill or joint resolution which has passed both chambers in identical form. It is printed on parchment paper, signed by appropriate officials, and submitted to the President/Governor for signature.
• 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.
• Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
• Ex officio: Literally, by virtue of one's office.
• Excess benefit participant: means any member whose retirement benefit as determined on the basis of all qualified plans of the employer without regard to the limitations of Louisiana Revised Statutes 11:701
• Executive budget: means the document submitted to the legislature at each regular session, pursuant to the provisions of this Chapter and Louisiana Revised Statutes 39:2
• Expenses: means amounts represented by cash paid out or by obligations to pay cash or partly by each for maintaining and operating government services. See Louisiana Revised Statutes 39:2
• Extradition: The formal process of delivering an accused or convicted person from authorities in one state to authorities in another state.
• Facility: means any piece of property that contains a constructed impoundment or other area where aquatic livestock are produced, raised, managed, harvested, or marketed. See Louisiana Revised Statutes 3:559.3
• Fair Credit Reporting Act: A federal law, established in 1971 and revised in 1997, that gives consumers the right to see their credit records and correct any mistakes. ^{Source: OCC}
• Federal Reserve System: The central bank of the United States. The Fed, as it is commonly called, regulates the U.S. monetary and financial system. The Federal Reserve System is composed of a central governmental agency in Washington, D.C. (the Board of Governors) and twelve regional Federal Reserve Banks in major cities throughout the United States. ^{Source: OCC}
• Fiduciary: A trustee, executor, or administrator.
• Finance charge: The total cost of credit a customer must pay on a consumer loan, including interest. The Truth in Lending Act requires disclosure of the finance charge. ^{Source: OCC}
• Financing costs: means all capitalized interest, costs, fees, reserves, and credit and liquidity enhancements as the corporation determines to be desirable in issuing, securing and marketing the bonds. See Louisiana Revised Statutes 39:99.3
• Financing costs: means all capitalized interest, costs, fees, reserves, and credit and liquidity enhancements as the corporation determines to be desirable in issuing, securing and marketing the bonds. See Louisiana Revised Statutes 39:99.27
• Fiscal year: means the period beginning July first of any year and ending June thirtieth of the next succeeding year. See Louisiana Revised Statutes 11:701
• Fixed Rate: Having a "fixed" rate means that the APR doesn't change based on fluctuations of some external rate (such as the "Prime Rate"). In other words, a fixed rate is a rate that is not a variable rate. A fixed APR can change over time, in several circumstances:
  • You are late making a payment or commit some other default, triggering an increase to a penalty rate
  • The bank changes the terms of your account and you do not reject the change.
  • The rate expires (if the rate was fixed for only a certain period of time).
• Forbearance: A means of handling a delinquent loan. A
• Foreclosure: A legal process in which property that is collateral or security for a loan may be sold to help repay the loan when the loan is in default. ^{Source: OCC}
• Fraud: Intentional deception resulting in injury to another.
• Full-time employee: means an employee who works the number of hours required by the department or division under applicable university policies for a full-time employee. See Louisiana Revised Statutes 11:952.1
• Functions: means duties, jurisdiction, powers, rights, and obligations, conferred or imposed upon, or vested in, any agency by law, or exercised, performed, or discharged by any agency without contravention of any provision of law. See Louisiana Revised Statutes 39:2
• Fund: means the self-insurance fund established pursuant to this Chapter to provide property insurance for churches and nonprofit religious organizations and shall be known as the Louisiana Churches and Nonprofit Religious Organizations Self-Insured Fund. See Louisiana Revised Statutes 12:1854
• Fund: means the Assessors' Retirement Fund. See Louisiana Revised Statutes 11:1402
• Fund: means an independent fiscal and accounting entity with a self-balancing set of accounts recording cash or other resources together with all related liabilities, obligations, reserves, and equities which are segregated for the purpose of carrying on specific activities or attaining certain objectives in accordance with regulations, restrictions, and limitations. See Louisiana Revised Statutes 39:2
• funded system: means the funded Louisiana State University and Agricultural and Mechanical College Retirement System as defined in Louisiana Revised Statutes 11:952.1
• Garnishment: Generally, garnishment is a court proceeding in which a creditor asks a court to order a third party who owes money to the debtor or otherwise holds assets belonging to the debtor to turn over to the creditor any of the debtor
• Genetic gestational carrier: means the process by which a woman attempts to carry and give birth to a child using her own gametes and either the gametes of a person who intends to parent the child or donor gametes, when there is an agreement to relinquish the custody of and all rights and obligations to the child. See Louisiana Revised Statutes 9:2718.1
• Gestational carrier: means a woman who agrees to engage in a process by which she attempts to carry and give birth to a child born as a result of an in utero transfer of a human embryo to which she makes no genetic contribution. See Louisiana Revised Statutes 9:2718.1
• Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
• GOHSEP: shall mean the Governor's Office of Homeland Security and Emergency Preparedness. See Louisiana Revised Statutes 39:100.42
• Grace period: The number of days you'll have to pay your bill for purchases in full without triggering a finance charge. ^{Source: Federal Reserve}
• Grant: means an award by the treasurer to an eligible business. See Louisiana Revised Statutes 39:100.42
• Gross estate: The total fair market value of all property and property interests, real and personal, tangible and intangible, of which a decedent had beneficial ownership at the time of death before subtractions for deductions, debts, administrative expenses, and casualty losses suffered during estate administration.
• Guarantor: A party who agrees to be responsible for the payment of another party's debts should that party default. ^{Source: OCC}
• 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.
• Habeas corpus: A writ that is usually used to bring a prisoner before the court to determine the legality of his imprisonment. It may also be used to bring a person in custody before the court to give testimony, or to be prosecuted.
• Hazardous financial condition: means a condition in which, based upon its present or reasonably anticipated financial condition, the fund, although not yet financially impaired or insolvent, is unlikely to be able to:

              (a) Meet obligations with respect to known claims and reasonably anticipated claims. See Louisiana Revised Statutes 12:1854

• Hearsay: Statements by a witness who did not see or hear the incident in question but heard about it from someone else. Hearsay is usually not admissible as evidence in court.
• Home protection plan: means a contract between the homeowner and a warranty or service company wherein the company is obligated to pay or reimburse the cost to repair or replace the covered built-in appliances or major mechanical systems of the consumer's home in the event of a breakdown. See Louisiana Revised Statutes 9:3516
• home solicitation sale: as used in this Part , shall be defined as provided in Louisiana Revised Statutes 9:3538
• Impoundment: means any private, constructed pond, lake, reservoir, tank, cage, or other means of containment that has no inlet from or outlet to any public waters. See Louisiana Revised Statutes 3:559.3
• In utero embryo transfer: means the medical procedure whereby the genetic mother's egg is fertilized with the sperm of the genetic father, with the resulting embryo transferred into the uterus of the gestational carrier. See Louisiana Revised Statutes 9:2718.1
• Income: means the tobacco settlement payments and all fees, charges, payments, and other income and receipts paid or payable to the corporation or a trustee or other party for the account of the corporation or the holders. See Louisiana Revised Statutes 39:99.3
• Income: means the payments and all fees, charges, payments, and other income and receipts paid or payable to the corporation or a trustee or other party for the account of the corporation or the holders. See Louisiana Revised Statutes 39:99.27
• 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}
• Indenture trustee: means the trust company or bank at the time serving as trustee under the trust indenture referred to in Louisiana Revised Statutes 39:99.3
• Indenture trustee: means the trust company or bank at the time serving as trustee under the trust indenture referred to in Louisiana Revised Statutes 39:99.27
• 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.
• Injunction: An order of the court prohibiting (or compelling) the performance of a specific act to prevent irreparable damage or injury.
• Insolvency: means the condition existing when the fund's liabilities are greater than the fund's assets as determined in accordance with generally accepted accounting principles as delineated in the fund's financial statement audited by an independent certified public accountant and calculated before a member's distribution is payable or before a dividend is declared. See Louisiana Revised Statutes 12:1854
• Intangible property: Property that has no intrinsic value, but is merely the evidence of value such as stock certificates, bonds, and promissory notes.
• Intended parents: means a married couple who each exclusively contribute their own gametes to create their embryo and who enter into an enforceable gestational carrier contract, as defined in this Chapter, with a gestational carrier pursuant to which the intended parents will be the legal parents of the child resulting from an in utero embryo transfer. See Louisiana Revised Statutes 9:2718.1
• Inter vivos: Transfer of property from one living person to another living person.
• Interest rate: The amount paid by a borrower to a lender in exchange for the use of the lender's money for a certain period of time. Interest is paid on loans or on debt instruments, such as notes or bonds, either at regular intervals or as part of a lump sum payment when the issue matures. ^{Source: OCC}
• Internal Revenue Code: means the United States Internal Revenue Code of 1986, as amended. See Louisiana Revised Statutes 11:701
• Interrogatories: Written questions asked by one party of an opposing party, who must answer them in writing under oath; a discovery device in a lawsuit.
• Interruption of business: means business interruption caused by forced or voluntary closures or restricted operations, including but not limited to social distancing measures, decreased customer demand, cleaning or disinfection expenses, and providing personal protective equipment, related to COVID-19. See Louisiana Revised Statutes 39:100.42
• Joint committee: Committees including membership from both houses of teh legislature. Joint committees are usually established with narrow jurisdictions and normally lack authority to report legislation.
• 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.
• Jurisprudence: The study of law and the structure of the legal system.
• Law clerk: Assist judges with research and drafting of opinions.
• 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.
• Legacy: A gift of property made by will.
• Legatee: A beneficiary of a decedent
• lender credit card: includes a travel and entertainment credit card account that is not subject to loan finance charges or credit service charges. See Louisiana Revised Statutes 9:3516
• Lessor: means a person who regularly provides the use of property through rental-purchase agreements and to whom rental payments are initially payable on the face of the rental-purchase agreement. See Louisiana Revised Statutes 9:3352
• Liability: means a debt arising out of a transaction where goods or services have been received or rendered which must be liquidated, renewed, or refunded at some future date. See Louisiana Revised Statutes 39:2
• Licensed lender: means a person licensed by the commissioner to make consumer loans pursuant to this Chapter. See Louisiana Revised Statutes 9:3516
• Licensee: means a person licensed pursuant to this Chapter that offers deferred presentment transactions or small loans, or both. See Louisiana Revised Statutes 9:3578.3
• Lien: A claim against real or personal property in satisfaction of a debt.
• Limited common elements: means those common elements reserved in the condominium declaration for the exclusive use of a certain unit or certain units. See Louisiana Revised Statutes 9:1121.103
• Litigation: A case, controversy, or lawsuit. Participants (plaintiffs and defendants) in lawsuits are called litigants.
• Livestock: means cattle, buffalo, bison, oxen, and other bovine; horses, mules, donkeys, and other equine; sheep; goats; swine; domestic rabbits; fish, turtles, and other animals identified with aquaculture that are located in artificial reservoirs or enclosures that are both on privately owned property and constructed so as to prevent, at all times, the ingress and egress of fish life from public waters; imported exotic deer and antelope, elk, farm-raised white-tailed deer, farm-raised ratites, and other farm-raised exotic animals; chickens, turkeys, and other poultry; and animals placed under the jurisdiction of the commissioner of agriculture and forestry and any hybrid, mixture, or mutation of any such animal. See Louisiana Revised Statutes 3:561
• Livestock: means cattle, buffalo, bison, oxen, and other bovine; horses, mules, donkeys, and other equine; sheep; goats; swine; domestic rabbits; fish, turtles, and other animals identified with aquaculture that are located in artificial reservoirs or enclosures that are both on privately owned property and constructed so as to prevent, at all times, the ingress and egress of fish life from public waters; imported exotic deer and antelope, elk, farm-raised white-tailed deer, farm-raised ratites, and other farm-raised exotic animals; chickens, turkeys, and other poultry; and animals placed under the jurisdiction of the commissioner of agriculture and forestry and any hybrid, mixture, or mutation of any such animal. See Louisiana Revised Statutes 3:663
• Livestock dealer: means any person, not a market agency, engaged in the business of buying or selling livestock. See Louisiana Revised Statutes 3:561
• Livestock market: means any place, establishment or facility commonly known as a "buying station" "livestock market" "livestock auction market" "sales ring" "stockyard" or the like, operated for compensation or profit as a market for livestock, consisting of pens, or other enclosures, and their appurtenances, in which livestock are received, held, sold, or kept for sale or shipment. See Louisiana Revised Statutes 3:663
• Loan finance charge: means the sum of the following:

  (i)  All charges payable directly or indirectly by the consumer and imposed directly or indirectly by the lender as a requirement of the extension of credit, including any of the following types of charges that are applicable: interest or any amount payable under a point, discount, or other system of charges, however denominated; and

  (ii)  Charges paid by the consumer for investigating the collateral or credit worthiness of the consumer. See Louisiana Revised Statutes 9:3516

• Loan originator or broker: means any person, except any regulated or supervised financial organization, credit union, licensed commercial or consumer lender, insurance company, consumer loan broker, or mortgage broker or lender, provided that the person excepted is licensed or registered with and subject to regulation or supervision by an agency of the United States or any state and is acting within the scope of the license, charter, or other permit, who:

  (a)  For, or in expectation of, consideration paid by the borrower, directly or indirectly arranges or attempts to arrange, or offers to fund or make a loan of money, a credit card, or a line of credit. See Louisiana Revised Statutes 9:3574.2

• Local government unit: means a parish, municipality, town, township, village or other unit of general government below the state level with parishwide jurisdiction including but not limited to sheriffs, coroners, and district attorneys. See Louisiana Revised Statutes 39:100.42
• Louisiana taxes: means all taxes administered by the secretary of the Department of Revenue pursuant to Title 47 of the Louisiana Revised Statutes of 1950, as amended. See Louisiana Revised Statutes 39:100.42
• Marital deduction: The deduction(s) that can be taken in the determination of gift and estate tax liabilities because of the existence of a marriage or marital relationship.
• Mark: means a distinct marking or device placed on or in a live animal sufficient to distinguish the animal readily if it becomes intermixed with other animals, including a tattoo or an electronic device. See Louisiana Revised Statutes 3:731
• Market agency: means any persons, firm, or corporation engaged in the business of buying or selling livestock in commerce on a commission basis, either at a public stockyard or at a privately owned and operated sales pen or concentration point, or any persons engaged in the furnishing of services for the conduct of such business, including but not limited to livestock video auctions. See Louisiana Revised Statutes 3:561
• Markup: The process by which congressional committees and subcommittees debate, amend, and rewrite proposed legislation.
• Maximum benefit: means the retirement benefit a member is entitled to receive from the system set forth in Part IV of this Chapter in any month after giving effect to Louisiana Revised Statutes 11:701
• Medical board: shall mean the State Medical Disability Board. See Louisiana Revised Statutes 11:701
• Medical board: means the board of physicians provided for in this Part. See Louisiana Revised Statutes 11:951.1
• Medical board: means the board of physicians provided for in Louisiana Revised Statutes 11:3682
• Member: means any teacher included in the membership of the system as provided in Part II of this Chapter. See Louisiana Revised Statutes 11:701
• Member: means any employee included in the membership of the funded system as provided in Louisiana Revised Statutes 11:952.1
• Member: includes any employees, as defined in Paragraph (16) of this Section, included in the membership of this plan as provided in Louisiana Revised Statutes 11:3682
• Membership service: means service as a teacher rendered while a member of the retirement system. See Louisiana Revised Statutes 11:701
• Membership service: means service as an employee while a member of the Harbor Police Retirement System or this plan. See Louisiana Revised Statutes 11:3682
• Minor child: means an unmarried child under the age of twenty-one years or an unmarried student under the age of twenty-three years who is the issue of a marriage of a member of this system, the legally adopted child of a member of this system, a child born outside of marriage of a female member of this system, or the child of a male member of this system if a court of competent jurisdiction has, pursuant to the provisions of the Civil Code rendered a judgment of filiation declaring the paternity of such member for the child. See Louisiana Revised Statutes 11:701
• Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
• Mortgage loan: A loan made by a lender to a borrower for the financing of real property. ^{Source: OCC}
• 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.
• Natural person: means a human being. See Louisiana Revised Statutes 11:701
• New entity: means the entity into which constituent entities consolidate, as identified in the agreement or certificate of consolidation provided for in this Chapter. See Louisiana Revised Statutes 9:3441
• 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.
• non-bargaining employee: shall mean any employee of the Louisiana Association of Educators whose employment is not covered by a collective bargaining agreement. See Louisiana Revised Statutes 11:701
• Nonprofit religious organization: means an active corporation or other entity organized under the United States Internal Revenue Code as a nonprofit organization defined as any one of the following:

              (a) A church or religious house of worship. See Louisiana Revised Statutes 12:1854

• Nonrecurring revenue: means revenue received by the state from a source identified by the Revenue Estimating Conference as being of a nonrecurring nature. See Louisiana Revised Statutes 39:2
• Normal service retirement age: means age sixty. See Louisiana Revised Statutes 11:951.1
• Oath: A promise to tell the truth.
• Objective: is a specific and measurable target for achievement which describes the exact results sought, which is expressed in an outcome-oriented statement that may reflect effectiveness, efficiency, or quality of work, and which may be either numeric or non-numeric. See Louisiana Revised Statutes 39:2
• Obligation: means an amount which a government may be required legally to meet out of its resources. See Louisiana Revised Statutes 39:2
• Office: means the Office of Financial Institutions in the office of the governor. See Louisiana Revised Statutes 9:3574.2
• Official forecast: means the most recently adopted estimate of money available for appropriation by the Revenue Estimating Conference as provided in Louisiana Revised Statutes 39:2
• Offshore Royalty Revenue: means all monies constituting the state of Louisiana's allocable share pursuant to the Gulf of Mexico Energy Security Act of 2006. See Louisiana Revised Statutes 39:99.27
• Offshore Royalty Revenue assets: means all right, title and interest in and to the portion of the state allocation that may be sold to the corporation from time to time. See Louisiana Revised Statutes 39:99.27
• Offshore Royalty Revenue bonds: means the bonds, notes and other obligations issued by the corporation, exclusive of bonds that the corporation may issue to refund bonds, the net proceeds (after financing costs) of the first issue of which shall be used by the corporation to pay a portion of the purchase price to the state of Louisiana to purchase the Offshore Royalty Revenue assets. See Louisiana Revised Statutes 39:99.27
• Offshore Royalty Revenue payments: means the monies paid or payable to the corporation pursuant to the agreement as in effect from time to time. See Louisiana Revised Statutes 39:99.27
• Open-end credit: A credit agreement (typically a credit card) that allows a customer to borrow against a preapproved credit line when purchasing goods and services. The borrower is only billed for the amount that is actually borrowed plus any interest due. (Also called a charge account or revolving credit.) ^{Source: OCC}
• Order: means any custody or visitation judgment, decree, or order issued by a court of competent jurisdiction in this state or any judgment of another state which has been made executory in this state. See Louisiana Revised Statutes 9:359.1
• Organization: means corporation, government or governmental subdivision or agency, trust, estate, partnership, cooperative, or association. See Louisiana Revised Statutes 9:3516
• Original bill: A bill which is drafted by a committee. It is introduced by the committee or subcommittee chairman after the committee votes to report it.
• Outstanding: when used with respect to bonds, shall exclude bonds that shall have been paid in full at maturity, or shall have otherwise been refunded, redeemed, defeased or discharged, or that may be deemed not outstanding pursuant to agreements with the holders thereof. See Louisiana Revised Statutes 39:99.3
• Outstanding: when used with respect to bonds, shall exclude bonds that shall have been paid in full at maturity, or shall have otherwise been refunded, redeemed, defeased or discharged, or that may be deemed not outstanding pursuant to agreements with the holders thereof. See Louisiana Revised Statutes 39:99.27
• Oversight: Committee review of the activities of a Federal agency or program.
• Partial payment: means a payment of fifty dollars or more on a deferred presentment transaction or small loan. See Louisiana Revised Statutes 9:3578.3
• Participant: means any employee who is entitled to the beneficial provisions of this retirement system. See Louisiana Revised Statutes 11:951.1
• Pension: means annual payments for life, payable in equal monthly installments, derived from money provided by the Orleans Parish School Board and other amounts accumulated in the pension accumulation account as provided for in this Part. See Louisiana Revised Statutes 11:951.1
• Pension reserve: means the present value of all payments to be made on account of any pension or benefit in lieu of any pension computed upon the basis of mortality tables adopted by the board of trustees, and regular interest. See Louisiana Revised Statutes 11:701
• Pension reserve: means the present value of all payments to be made on account of any pension or benefit in lieu of any pension computed upon the basis of mortality tables adopted by the board of trustees, plus regular interest. See Louisiana Revised Statutes 11:951.1
• Pensions: means payments for life. See Louisiana Revised Statutes 11:701
• Person: means an individual, partnership, firm, company, association, corporation, limited liability company, and any other legal entity or group of persons. See Louisiana Revised Statutes 3:559.3
• Person: means an individual, partnership, corporation, or association of such persons acting as a unit. See Louisiana Revised Statutes 3:561
• Person: means an individual, partnership, firm, company, association, corporation, limited liability company, and any other legal entity or group of persons. See Louisiana Revised Statutes 3:730.2
• Person: means an individual, firm, partnership, corporation, or other association. See Louisiana Revised Statutes 3:731
• Person: means an individual, partnership, firm, company, association, corporation, limited liability company, and any other legal entity or group of persons. See Louisiana Revised Statutes 3:836
• Person: as used in this Chapter means an individual or corporation, partnership, trust, association, joint venture pool, syndicate, sole proprietorship, unincorporated organization, or any other form of entity not specifically listed herein. See Louisiana Revised Statutes 9:3516
• Person: means an individual, corporation, partnership, trust, association, joint venture pool, syndicate, sole proprietorship, unincorporated organization, or any other form of entity not specifically listed herein. See Louisiana Revised Statutes 9:3573.2
• Person: means an individual or corporation, partnership, trust, association, joint venture pool, syndicate, sole proprietorship, unincorporated organization, or any other form of entity not specifically listed herein. See Louisiana Revised Statutes 9:3574.2
• Personal property: All property that is not real property.
• Physician: means a person licensed to practice medicine in the state of Louisiana. See Louisiana Revised Statutes 14:87.1
• Plaintiff: The person who files the complaint in a civil lawsuit.
• Plan: means the Harbor Police Retirement Plan established in this Subpart and administered as a plan within the Louisiana State Employees' Retirement System pursuant to Louisiana Revised Statutes 11:3682
• Plan year: means the fiscal year. See Louisiana Revised Statutes 11:701
• 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.
• Pleadings: Written statements of the parties in a civil case of their positions. In the federal courts, the principal pleadings are the complaint and the answer.
• Port commission: means the Board of Commissioners of the Port of New Orleans. See Louisiana Revised Statutes 11:3682
• Power of attorney: A written instrument which authorizes one person to act as another's agent or attorney. The power of attorney may be for a definite, specific act, or it may be general in nature. The terms of the written power of attorney may specify when it will expire. If not, the power of attorney usually expires when the person granting it dies. ^{Source: OCC}
• Precedent: A court decision in an earlier case with facts and law similar to a dispute currently before a court. Precedent will ordinarily govern the decision of a later similar case, unless a party can show that it was wrongly decided or that it differed in some significant way.
• Precomputed consumer credit transaction: means a consumer credit transaction under which loan finance charges or credit service charges are computed in advance over the entire scheduled term of the transaction and capitalized into the face amount of the debtor's promissory note or other evidence of indebtedness. See Louisiana Revised Statutes 9:3516
• Prepayment: means payment in full of the deferred presentment transaction or small loan amount prior to the end of the term of that transaction or loan. See Louisiana Revised Statutes 9:3578.3
• Principal: means the amount financed or amount deferred under a consumer credit transaction. See Louisiana Revised Statutes 9:3516
• Principal: means any officer, director, owner, sole proprietor, partner, member, joint venturer, manager, or other person with similar managerial or supervisory responsibilities for a person who makes or offers to make or broker loans, whatever his job title. See Louisiana Revised Statutes 9:3574.2
• Prior service: means service rendered prior to the date of establishment of the retirement system for which credit is allowable under Part III of this Chapter. See Louisiana Revised Statutes 11:701
• Prior service: means service rendered by an employee prior to the effective date of the establishment of this retirement system for which credit is allowable as provided in this Part. See Louisiana Revised Statutes 11:951.1
• Prior service: means service rendered prior to August 1, 1971 for which credit is allowable as provided in Louisiana Revised Statutes 11:3682
• Pro rata: as used in this chapter refers to a method of computing deferral charges by dividing the precomputed loan finance charge or precomputed credit service charge by the total number of days in the contract and multiplying the sum by the number of days that are deferred. See Louisiana Revised Statutes 9:3516
• Probable cause: A reasonable ground for belief that the offender violated a specific law.
• Probate: Proving a will
• Probation: A sentencing alternative to imprisonment in which the court releases convicted defendants under supervision as long as certain conditions are observed.
• Producer: means any person engaged in the business of producing eggs in Louisiana or any person deriving a profit from such a business. See Louisiana Revised Statutes 3:836
• 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
• Property coverage: means coverage for the damage or loss of a structure or building and may include any or all of the following:

              (a) Premises liability coverage. See Louisiana Revised Statutes 12:1854

• Prosecute: To charge someone with a crime. A prosecutor tries a criminal case on behalf of the government.
• Public defender: Represent defendants who can't afford an attorney in criminal matters.
• Public law: A public bill or joint resolution that has passed both chambers and been enacted into law. Public laws have general applicability nationwide.
• Public school: means any school conducted within the state under the authority and supervision of a city, parish, or other local school board and any educational institution supported by and under the control of the state. See Louisiana Revised Statutes 11:701
• Qualified participant: means a member of the system who first became a member before January 1, 1990. See Louisiana Revised Statutes 11:3682
• Qualified plan: means a trust which is covered by the provisions of Section 401(a) of the United States Internal Revenue Code. See Louisiana Revised Statutes 11:701
• Quality: means degree or grade of excellence. See Louisiana Revised Statutes 39:2
• Quorum: The number of legislators that must be present to do business.
• 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}
• Recovery program: means the Louisiana Main Street Recovery Program. See Louisiana Revised Statutes 39:100.42
• Regular compensation: means the total cash compensation for personal services paid to an employee by the university, except compensation of an unusual or noncontinuing nature excluded by the board of supervisors as provided in Louisiana Revised Statutes 11:952.1
• Regular contributions: means the contributions deducted from the compensation of a participant subsequent to the effective date of the establishment of this retirement system as required by this Part and placed to the credit of the participant in the annuity savings account. See Louisiana Revised Statutes 11:951.1
• Regular employee: means :

  (a)  An employee whose appointment is for a period of more than one hundred eighty calendar days, or

  (b)  One who has been employed for more than one hundred eighty consecutive calendar days by successive uninterrupted appointments. See Louisiana Revised Statutes 11:952.1

• Regular interest: means interest compounded annually at such a rate as shall be determined by the board of trustees in accordance with Louisiana Revised Statutes 11:701
• Regular interest: means interest compounded annually at such rate as shall be determined by the board of trustees. See Louisiana Revised Statutes 11:951.1
• Regular interest: means interest compounded annually at such rate or rates as shall be determined by the board of supervisors. See Louisiana Revised Statutes 11:952.1
• Religious denomination: means a group of individual churches or houses of worship who are called or identified using the same terms and a particular set of beliefs or spiritual or religious values. See Louisiana Revised Statutes 12:1854
• Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.
• Rental-purchase agreement: means an agreement for the use of personal property by a natural person primarily for personal, family, or household purposes for an initial period of four months or less, that is automatically renewable with each payment after the initial period, but that does not obligate or require the consumer to continue renting or using the property beyond the initial period, and that permits the consumer to become the owner of the property. See Louisiana Revised Statutes 9:3352
• Reporter: Makes a record of court proceedings and prepares a transcript, and also publishes the court's opinions or decisions (in the courts of appeals).
• Rescission: The cancellation of budget authority previously provided by Congress. The Impoundment Control Act of 1974 specifies that the President may propose to Congress that funds be rescinded. If both Houses have not approved a rescission proposal (by passing legislation) within 45 days of continuous session, any funds being withheld must be made available for obligation.
• Residual interests: means the income of the corporation, and bond proceeds, if any, not previously paid to the state, that are in excess of the corporation's requirements to pay its operating expenses, debt service, sinking fund requirements, reserve fund requirements, and any other contractual obligations to the holders or that may be incurred in connection with the issuance of the bonds, the amounts of which shall be determined by the board on or before January 1 and July 1 of each year for the next twelve months, and which, within ten days after each such determination, shall be transferred and paid by the corporation to the state treasurer for deposit in and credit to the Millennium Trust pursuant to the agreement. See Louisiana Revised Statutes 39:99.3
• Residual interests: means the income of the corporation, and bond proceeds, if any, not previously paid to the state, that are in excess of the corporation's requirements to pay its operating expenses, debt service, sinking fund and other redemption requirements, reserve fund requirements, and any other contractual obligations to the holders or that may be incurred in connection with the issuance or repayment of the bonds, the amounts of which shall be determined by the board on or before January first and July first of each year for the next twelve months, and which, within ten days after each such determination, shall be transferred and paid by the corporation to the state treasurer for deposit in and credit to the Coastal Protection and Restoration Fund pursuant to the agreement between the state and the corporation. See Louisiana Revised Statutes 39:99.27
• Restitution: The court-ordered payment of money by the defendant to the victim for damages caused by the criminal action.
• RESTORE Act: means the Resources and Ecosystems Sustainability, Tourist Opportunities, and Revived Economies of the Gulf Coast States Act of 2012. See Louisiana Revised Statutes 39:99.27
• RESTORE assets: means all rights, title, and interest in and to the portion of the state allocation of civil penalties related to the Deepwater Horizon oil spill as set forth in the RESTORE Act and the consent decree. See Louisiana Revised Statutes 39:99.27
• RESTORE bonds: means the bonds, notes, and other obligations issued by the corporation, exclusive of bonds that the corporation may issue to refund bonds, the net proceeds, after financing costs, of the first issue of which shall be used by the corporation to pay a portion of the purchase price to the state of Louisiana to purchase the RESTORE assets. See Louisiana Revised Statutes 39:99.27
• RESTORE payments: means the monies paid or payable for civil penalties, pursuant to the RESTORE Act and the consent decree, to the corporation, and the agreement as in effect from time to time. See Louisiana Revised Statutes 39:99.27
• Retirement: means withdrawal from active service with a retirement allowance granted under the provisions of this Chapter. See Louisiana Revised Statutes 11:701
• Retirement: means withdrawal from active service with a retirement allowance allowable under the provisions of this Part. See Louisiana Revised Statutes 11:951.1
• Retirement: means withdrawal from active service with a retirement allowance granted under the provisions of this part. See Louisiana Revised Statutes 11:952.1
• Retirement: means withdrawal from active service with a retirement allowance granted under the provisions of this Subpart. See Louisiana Revised Statutes 11:3682
• Retirement allowance: means the sum of the annuity and the pensions or any optional benefit payable in lieu thereof. See Louisiana Revised Statutes 11:701
• Retirement allowance: means the sum of the annuity and the pension, or any other benefits payable in lieu thereof. See Louisiana Revised Statutes 11:951.1
• Retirement allowance: means annual payments for life under the funded system payable in equal monthly installments beginning as of the date fixed by the board of supervisors. See Louisiana Revised Statutes 11:952.1
• Retirement allowance: means any benefit paid to a member under Louisiana Revised Statutes 11:3682
• Retirement system: means the Teachers' Retirement System of Louisiana as defined in Louisiana Revised Statutes 11:701
• Retirement system: means the corporation known as the Orleans Parish School Employees' Retirement System established in Louisiana Revised Statutes 11:951.1
• Revolving charge account: means an arrangement between a seller or issuer of a seller credit card honored by the seller and a consumer pursuant to which:

  (a)  The creditor permits the consumer to purchase goods or services on a preauthorized basis;

  (b)  The creditor reasonably contemplates repeated transactions;

  (c)  The creditor may impose a credit service charge from time to time on the outstanding unpaid balance of the consumer's account;

  (d)  The amount of credit that may be extended to the consumer, up to any limit set by the creditor, is generally made available to the extent that any outstanding balance is repaid; and

  (e)  No credit service charges may be imposed upon the consumer for a billing period if the account is paid in full within a period of twenty-five days from the billing date. See Louisiana Revised Statutes 9:3516

• Revolving credit: A credit agreement (typically a credit card) that allows a customer to borrow against a preapproved credit line when purchasing goods and services. The borrower is only billed for the amount that is actually borrowed plus any interest due. (Also called a charge account or open-end credit.) ^{Source: OCC}
• Revolving loan account: means an arrangement between a lender and a consumer pursuant to which:

  (i)  The creditor may permit the consumer to obtain consumer loan advances on a preauthorized basis;

  (ii)  The creditor reasonably contemplates repeated transactions;

  (iii)  The creditor may impose a loan finance charge from time to time on the outstanding unpaid balance of the consumer's account; and

  (iv)  The amount of credit that may be extended to the consumer under the account, up to any limit set by the creditor, is generally made available to the extent that any unpaid balance is repaid. See Louisiana Revised Statutes 9:3516

• Right of offset: Banks' legal right to seize funds that a guarantor or debtor may have on deposit to cover a loan in default. It is also known as the right of set-off. ^{Source: OCC}
• Right of rescission: Right to cancel, within three business days, a contract that uses the home of a person as collateral, except in the case of a first mortgage loan. There is no fee to the borrower, who receives a full refund of all fees paid. The right of rescission is guaranteed by the Truth in Lending Act (TILA). ^{Source: OCC}
• Security device: means any lien, mortgage, pawn, pledge, privilege, or other instrument by which an interest in livestock is used to secure the performance or payment of any obligation. See Louisiana Revised Statutes 3:561
• Seller credit card: means a revolving charge account that may be accessed by use of a credit card. See Louisiana Revised Statutes 9:3516
• Service: means service as a teacher within the meaning of Paragraph (33) of this Section. See Louisiana Revised Statutes 11:701
• Service: means service rendered by an employee as herein defined. See Louisiana Revised Statutes 11:951.1
• Service: means service rendered as an employee as described in Paragraph (16) of this Section. See Louisiana Revised Statutes 11:3682
• Service of process: The service of writs or summonses to the appropriate party.
• 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.
• Simple interest transaction: means a consumer credit transaction under which loan finance charges or credit service charges are assessed by application of a contractual simple interest rate or rates to the unpaid balance of the debtor's promissory note, account or other evidence of indebtedness. See Louisiana Revised Statutes 9:3516
• Small loan: means a consumer loan, as defined in Louisiana Revised Statutes 9:3578.3
• Social Security breakpoint: means the maximum level at which compensation may be included in the determination of the primary insurance amount under Title II of the Federal Social Security Act, provided that for purposes of the funded system seven thousand eight hundred dollars shall be deemed to have been the Social Security breakpoint for all years prior to 1968. See Louisiana Revised Statutes 11:952.1
• Spouse: shall mean a person who is legally married to a member of this system and shall not include a person who is legally separated from a member of this system by a judgment of separation, unless such person has voluntarily reconciled with the member and which reconciliation is established by a court of competent jurisdiction. See Louisiana Revised Statutes 11:701
• Spouse: means that person who is legally married to the member on the member's effective date of retirement or effective date of participation in the Deferred Retirement Option Plan, whichever is earlier. See Louisiana Revised Statutes 11:3682
• State: means the state of Louisiana. See Louisiana Revised Statutes 11:952.1
• State: means the state of Louisiana. See Louisiana Revised Statutes 39:100.42
• State allocation: means all monies to be received by the state of Louisiana as a result of the master settlement agreement, without giving effect to any sale of any portion thereof. See Louisiana Revised Statutes 39:99.3
• State allocation: means all monies to be received by the state of Louisiana as a result of the Gulf of Mexico Energy Security Act of 2006, the Resources and Ecosystems Sustainability, Tourist Opportunities, and Revived Economies of the Gulf Coast States Act as provided in the consent decree, or the Deepwater Horizon (DWH) natural resource damages as provided in the consent decree including all of the state of Louisiana's allocable share as determined thereunder, without giving effect to any sale of any portion thereof. See Louisiana Revised Statutes 39:99.27
• Statute: A law passed by a legislature.
• Strawberries: means all strawberries of the grades as recommended by the United States Department of Agriculture and the State Market Commission. See Louisiana Revised Statutes 3:730.2
• Student: means a person who satisfies all of the provisions of this Paragraph. See Louisiana Revised Statutes 11:701
• student: includes a graduate assistant, medical intern, and medical resident. See Louisiana Revised Statutes 11:952.1
• Subsequent service: means service rendered by an employee subsequent to the effective date of the establishment of this retirement system and while a participant in this retirement system. See Louisiana Revised Statutes 11:951.1
• Summons: Another word for subpoena used by the criminal justice system.
• Supervised financial organization: means either of the following:

  (a)  A banking or similar organization organized, certified, and supervised by an agency of either the United States of America or the state of Louisiana or any other state pursuant to the banking, currency, and related laws of the United States of America or of the state of Louisiana or any other state. See Louisiana Revised Statutes 9:3516

• Surplus: means the excess for any fiscal year of the actual monies received and any monies or balances carried forward over the actual expenditures paid by warrant or transfer for any fund at the close of the fiscal year as such are reported by the office of statewide reporting within the division of administration. See Louisiana Revised Statutes 39:2
• Surviving entity: means the constituent entity surviving a merger, as identified in the agreement or certificate of merger provided for in this Chapter. See Louisiana Revised Statutes 9:3441
• Surviving spouse: means a person who is legally married to a member of the system and living with the member at the time of his death. See Louisiana Revised Statutes 11:1402
• swaps: means contracts described in Louisiana Revised Statutes 39:99.3
• system: means the Louisiana State Employees' Retirement System. See Louisiana Revised Statutes 11:3682
• teacher: as used in this Part means principal, supervisor, and superintendent of public schools, as well as classroom teachers. See Louisiana Revised Statutes 11:901.36
• Temporary restraining order: Prohibits a person from an action that is likely to cause irreparable harm. This differs from an injunction in that it may be granted immediately, without notice to the opposing party, and without a hearing. It is intended to last only until a hearing can be held.
• Testator: A male person who leaves a will at death.
• Testify: Answer questions in court.
• Testimony: Evidence presented orally by witnesses during trials or before grand juries.
• Tobacco assets: means all right, title and interest in and to the portion of the state allocation that may be sold to the corporation from time to time. See Louisiana Revised Statutes 39:99.3
• Tobacco bonds: means the bonds, notes and other obligations issued by the corporation, exclusive of bonds that the corporation may issue to refund bonds, the net proceeds (after financing costs) of the first issue of which shall be used by the corporation to pay a portion of the purchase price to the state of Louisiana to purchase the tobacco assets. See Louisiana Revised Statutes 39:99.3
• Tobacco settlement payments: means the monies paid or payable to the corporation pursuant to the master settlement agreement and the agreement as in effect from time to time. See Louisiana Revised Statutes 39:99.3
• Tort: A civil wrong or breach of a duty to another person, as outlined by law. A very common tort is negligent operation of a motor vehicle that results in property damage and personal injury in an automobile accident.
• Transcript: A written, word-for-word record of what was said, either in a proceeding such as a trial or during some other conversation, as in a transcript of a hearing or oral deposition.
• Treasurer: means the state treasurer of Louisiana. See Louisiana Revised Statutes 39:100.42
• Trial: A hearing that takes place when the defendant pleads "not guilty" and witnesses are required to come to court to give evidence.
• Trust account: A general term that covers all types of accounts in a trust department, such as estates, guardianships, and agencies. ^{Source: OCC}
• Trustee: A person or institution holding and administering property in trust.
• Truth in Lending Act: The Truth in Lending Act is a federal law that requires lenders to provide standardized information so that borrowers can compare loan terms. In general, lenders must provide information on ^{Source: OCC}
• Uniform Commercial Code: A set of statutes enacted by the various states to provide consistency among the states' commercial laws. It includes negotiable instruments, sales, stock transfers, trust and warehouse receipts, and bills of lading. ^{Source: OCC}
• Unit: means a part of the condominium property subject to individual ownership. See Louisiana Revised Statutes 9:1121.103
• University: means all campuses and divisions of the Louisiana State University and Agricultural and Mechanical College. See Louisiana Revised Statutes 11:952.1
• University Retirement Plan: means the nonfunded University Retirement Plan established pursuant to regulations of the board of supervisors as in effect on the effective date of this funded system. See Louisiana Revised Statutes 11:952.1
• Unpaid debt: as used in this Chapter means the total of the amount financed, loan finance charges, default charges, and delinquency charges including the amount due at the time of default plus all interest which may accrue from the time of default until the entire balance is paid. See Louisiana Revised Statutes 9:3516
• Unrestricted benefit: means the monthly retirement benefit a member, or the spouse or child of a member, would have received under the terms of all qualified plans of the employer, except for the restrictions of Louisiana Revised Statutes 11:701
• Usury: Charging an illegally high interest rate on a loan. ^{Source: OCC}
• Variable Rate: Having a "variable" rate means that the APR changes from time to time based on fluctuations in an external rate, normally the Prime Rate. This external rate is known as the "index." If the index changes, the variable rate normally changes. Also see Fixed Rate.
• Venue: The geographical location in which a case is tried.
• Verdict: The decision of a petit jury or a judge.
• Writ: A formal written command, issued from the court, requiring the performance of a specific act.
• Writ of certiorari: An order issued by the Supreme Court directing the lower court to transmit records for a case for which it will hear on appeal.