Terms Used In Louisiana Revised Statutes > Title 40 > Chapter 12 > Part VIII - Pharmaceutical Cost Transparency

• Agent: means a person who solicits prospective purchasers or negotiates on behalf of a seller. See Louisiana Revised Statutes 51:1821
• 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.
• 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
• 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 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
• board: means the board provided for in Louisiana Revised Statutes 11:3682
• Business opportunity: means the sale or lease for an initial required consideration exceeding three hundred dollars of any goods or services which are transferred to a purchaser for the purpose of enabling the purchaser to start a business, and in which the seller or agent:

  (a)  Represents that the seller or an entity to which it will refer the purchaser, will provide or assist the purchaser in finding business locations on premises neither owned nor leased by the purchaser or seller for the use or operation of vending machines, racks, display cases, currency-operated amusement machines, or other similar devices; or

  (b)  Represents that the seller, or any entity to which it will refer the purchaser, will purchase any or all products to be sold, made, produced, fabricated, assembled, grown, bred, or modified by the purchaser using in whole or in part the supplies, services, or goods sold to the purchaser by the seller; or

  (c)  Guarantees that the purchaser is to derive income from the business opportunity which exceeds the price paid for the business opportunity, or that the seller is to refund all or part of the price paid for the business opportunity, or repurchase any of the products, equipment, supplies, or goods supplied by the seller, if the purchaser is unsatisfied with the business opportunity; or

  (d)  Represents that for a fee exceeding three hundred dollars the seller will provide a sales plan or marketing program which will enable the purchaser to derive income from the business opportunity which exceeds the price paid for the business opportunity. See Louisiana Revised Statutes 51:1821

• Commissioner: means the commissioner of financial institutions. See Louisiana Revised Statutes 9:3516
• Contract: A legal written agreement that becomes binding when signed.
• Creditable service: means service for which credit is allowable as provided in Louisiana Revised Statutes 11:3682
• Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
• Department: means the Department of Justice. See Louisiana Revised Statutes 51:1821
• Dependent: A person dependent for support upon another.
• 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 Board of Commissioners of the Port of New Orleans. See Louisiana Revised Statutes 11:3682
• 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.
• 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}
• 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}
• 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
• 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: includes a body of persons, whether incorporated or not. See Louisiana Revised Statutes 1:10
• 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
• Prescription drug: means a drug as defined in Louisiana Revised Statutes 40:2255.1
• 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.
• 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 any benefit paid to a member under Louisiana Revised Statutes 11:3682
• Seller: means a person or entity which sells or leases, or offers to sell or to lease a business opportunity. See Louisiana Revised Statutes 51:1821
• 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.
• 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
• system: means the Louisiana State Employees' Retirement System. See Louisiana Revised Statutes 11:3682