Louisiana Revised Statutes > Title 9 > CODE TITLE XXII

		Sections
Chapter 1	Mortgages in General	9:5103 – 9:5251
Chapter 2	Conventional Mortgages	9:5301 – 9:5396
Chapter 3	Legal Mortgages	9:5501 – 9:5504
Chapter 4	Ship Mortgage Law	9:5521 – 9:5538
Chapter 5	Collateral Mortgages and Vendor’s Privileges: Effective Date of Collateral Mortgages, Relationship of Collateral Mortgages to Chapter 9 of the Louisiana Commercial Laws and Defenses to Enforcement	9:5550 – 9:5557

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Terms Used In Louisiana Revised Statutes > Title 9 > CODE TITLE XXII - Of Mortgages

Accumulated employee contributions: means the sum of all amounts deducted from a member's salary and paid to the fund. See Louisiana Revised Statutes 11:1503
Acquittal:
1. Judgement that a criminal defendant has not been proved guilty beyond a reasonable doubt.
2. A verdict of "not guilty."
Act: means this Correctional Facilities Corporation Act. See Louisiana Revised Statutes 39:1780
Actuarial equivalent: means a benefit of equivalent value to the accumulated contributions, annuity or benefits and regular interest, as the case may be, computed on the basis of such mortality and interest tables as shall be adopted by the board of trustees in accordance with the provisions of Louisiana Revised Statutes 11:1402
Adjournment sine die: The end of a legislative session "without day." These adjournments are used to indicate the final adjournment of an annual or the two-year session of legislature.
Adjusted gross income: means gross income, minus:
(a) Amounts for preexisting child support or spousal support obligations owed under an order of support to another who is not a party to the proceedings and
(b) At the court's discretion, amounts paid on behalf of a party's minor child who is not the subject of the action of the court. See Louisiana Revised Statutes 9:315
Adult: means an individual who has attained the age of eighteen years. See Louisiana Revised Statutes 9:2260.1
Adult: means an individual who has attained the age of twenty-two years. See Louisiana Revised Statutes 9:751
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.
Agency: as used in this Chapter shall have the same meaning ascribed to it as provided in Louisiana Revised Statutes 39:1556
Amortization: Paying off a loan by regular installments.
Annual appropriation dependency clause: shall mean a clause which shall be included in any lease-purchase financing document or custody agreement which provides that after a diligent and good faith effort by the state to appropriate funds for the payment of sums due under a lease-purchase financing agreement or custody agreement, such funds are not appropriated, such lease-purchase agreement or custody agreement shall terminate and the state shall not be liable for the payment of further sums due on such agreements past the then current budget year. See Louisiana Revised Statutes 39:1780
Annual appropriation dependency clause: shall mean a clause which shall be included in any lease-purchase financing document which provides that if, after a diligent and good faith effort by the state to appropriate funds for the payment of sums due under a lease-purchase financing agreement, such funds are not appropriated, such lease-purchase agreement shall terminate in accordance with the terms of the lease-purchasing financing agreement, and the state shall not be liable for the payment of further sums due on such agreements past the then current fiscal year, provided possession of the project is returned to the corporation. See Louisiana Revised Statutes 39:1800.22
Answer: The formal written statement by a defendant responding to a civil complaint and setting forth the grounds for defense.
Applicable purchasing agency: shall mean the Division of Administration of the state except as provided in Louisiana Revised Statutes 39:1763
Appraisal: A determination of property value.
Arrest: Taking physical custody of a person by lawful authority.
Articles: means the original articles of incorporation and all amendments thereto including those contained in merger agreements or, if restated, the latest restatement thereof except in those instances in which the context refers expressly to the original articles of incorporation only. See Louisiana Revised Statutes 6:201
Assets: means all of a state bank's property and rights of every kind. See Louisiana Revised Statutes 6:201
Attachment: A procedure by which a person's property is seized to pay judgments levied by the court.
Attorney-in-fact: A person who, acting as an agent, is given written authorization by another person to transact business for him (her) out of court.
Beneficiary: means an individual for whom property has been transferred to or held under a declaration of trust by a custodial trustee for the individual's use and benefit under this Chapter. See Louisiana Revised Statutes 9:2260.1
Board: means the Board of Trustees of the Louisiana State Employees' Retirement System. See Louisiana Revised Statutes 11:403
Board: means the board of trustees of the Assessors' Retirement Fund. See Louisiana Revised Statutes 11:1402
Board: means the board of trustees of the Clerks' of Court Retirement and Relief Fund. See Louisiana Revised Statutes 11:1503
Board: means any agency, board, commission, or office, public or private, that issues any license for activity specified in Paragraph (6) of this Section. See Louisiana Revised Statutes 9:315.31
Board: means the board of commissioners of the Acadiana Regional Juvenile Justice District. See Louisiana Revised Statutes 15:1109
Boll weevil: means any Anthonomus grandis Boheman in any stage of development. See Louisiana Revised Statutes 3:1603
Bonds: means bonds, notes, or any other evidences of indebtedness issued by the corporation. See Louisiana Revised Statutes 39:1780
Bonds: means bonds, notes, or any other evidence of indebtedness issued by the corporation. See Louisiana Revised Statutes 39:1798
Bonds: means bonds, notes, or any other evidence of indebtedness issued by the corporation. See Louisiana Revised Statutes 39:1800.22
Broker: means a person lawfully engaged in the business of effecting transactions in securities or commodities for the person's own account or for the account of others. See Louisiana Revised Statutes 9:751
Builder: means the person undertaking or contracting to build a ship pursuant to a contract or otherwise. See Louisiana Revised Statutes 9:5522
Business: means any corporation, partnership, individual, sole proprietorship, joint stock company, joint venture, or any other legal entity through which business is conducted. See Louisiana Revised Statutes 39:1556
Capital: means the sum of capital stock, surplus, and undivided profits or, as to mutual state banks, as defined by Louisiana Revised Statutes 6:201
Capital stock: means the sum of the par value of the shares outstanding plus any amounts in excess of par value transferred from surplus to capital stock in respect of such shares less any part of such amounts transferred from capital stock to surplus as permitted by this Chapter. See Louisiana Revised Statutes 6:201
Center of excellence: means a community college or vocational technical facility which provides customized education and training programs for targeted industries that drive Louisiana's economy. See Louisiana Revised Statutes 39:1800.22
Central purchasing agency: means the office of state procurement. See Louisiana Revised Statutes 39:1556
Certificates: means certificates of participation executed and delivered by a trustee evidencing ownership interests in any lease entered into by the state, as lessee, and the corporation, as lessor. See Louisiana Revised Statutes 39:1780
Certificates: means certificates of participation executed and delivered by a trustee evidencing ownership interests in any lease entered into by the state, as lessee, and the corporation, as lessor. See Louisiana Revised Statutes 39:1798
Certificates: means certificates of participation executed and delivered by a trustee evidencing ownership interests in any lease entered into by the state or the system, as lessee, and the corporation, as lessor. See Louisiana Revised Statutes 39:1800.22
Chambers: A judge's office.
Change order: means a written order signed by the procurement officer, directing the contractor to make changes which the contract authorizes the procurement officer to order without the consent of the contractor. See Louisiana Revised Statutes 39:1556
Chief judge: The judge who has primary responsibility for the administration of a court but also decides cases; chief judges are determined by seniority.
Chief procurement officer: means the person holding the position created in Louisiana Revised Statutes 39:1556
Claims: refers to only those claims covered by the Self-Insurance Fund in accordance with this Chapter. See Louisiana Revised Statutes 39:1527
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.
Combined adjusted gross income: means the combined adjusted gross income of both parties. See Louisiana Revised Statutes 9:315
Commission: means the Louisiana Boll Weevil Eradication Commission established in this Part. See Louisiana Revised Statutes 3:1603
Commission: means the Acadiana Regional Juvenile Justice District Commission. See Louisiana Revised Statutes 15:1109
Commissioner: means the commissioner of administration or his duly authorized designee. See Louisiana Revised Statutes 39:1527
Commissioner: means the commissioner of the Department of Agriculture and Forestry, or his duly authorized designee. See Louisiana Revised Statutes 3:1603
Compensation: means the payment of money, a thing of value, or any financial benefit. See Louisiana Revised Statutes 51:361
Competitive negotiation: means to negotiate for a contract through a request for proposals process or any other similar competitive selection process. See Louisiana Revised Statutes 39:1556
Competitive sealed bidding: means the receipt of bids protected from inspection prior to bid opening. See Louisiana Revised Statutes 39:1556
Components: means all parts and components of a ship which are fabricated by the builder for use in the construction of the ship, which will, when so used, form a part of the ship and the fabrication of which is commenced at the shipyard. See Louisiana Revised Statutes 9:5522
Concurrent resolution: A legislative measure, designated "S. Con. Res." and numbered consecutively upon introduction, generally employed to address the sentiments of both chambers, to deal with issues or matters affecting both houses, such as a concurrent budget resolution, or to create a temporary joint committee. Concurrent resolutions are not submitted to the President/Governor and thus do not have the force of law.
Consideration: means the payment of cash or purchase of goods, services, or intangible property. See Louisiana Revised Statutes 51:361
Contempt of court: means that a person has been found guilty of a direct contempt of court for a contumacious failure to comply with a subpoena, pursuant to Code of Civil Procedure Article 222(5), or a constructive contempt of court for willful disobedience of a lawful order of the court, pursuant to Code of Civil Procedure Article 224(2), in or ancillary to a child support or paternity proceeding. See Louisiana Revised Statutes 9:315.31
Contract: means a written agreement for the construction of a ship. See Louisiana Revised Statutes 9:5522
Contract: means all types of state agreements, regardless of what they may be called, including orders and documents purporting to represent grants, which are for the purchase or disposal of supplies, services, major repairs, or any other item. See Louisiana Revised Statutes 39:1556
Contract modification: means any written alteration in specifications, delivery point, rate of delivery, period of performance, price, quantity, or other provisions of any contract accomplished by mutual action of the parties to the contract. See Louisiana Revised Statutes 39:1556
Contractor: means any person having a contract with a governmental body. See Louisiana Revised Statutes 39:1556
Cooperative purchasing: means procurement conducted by or on behalf of more than one public procurement unit or by a public procurement unit with an external procurement activity or by a private procurement unit. See Louisiana Revised Statutes 39:1556
Corporation: means the nonprofit corporation authorized to be formed by this Chapter, or any corporation succeeding to the principal functions thereof or to which the powers conferred upon the corporation by this Chapter shall be given by law. See Louisiana Revised Statutes 39:1780
Corporation: means the nonprofit corporation authorized to be formed by this Chapter, or any corporation succeeding to the principal functions thereof or to which the powers conferred upon the corporation by this Chapter shall be given by law. See Louisiana Revised Statutes 39:1798
Corporation: means the public nonprofit corporation authorized to be formed by this Chapter, or any corporation succeeding to the principal functions thereof or to which the powers conferred upon the corporation by this Chapter shall be given by law. See Louisiana Revised Statutes 39:1800.22
Cotton: means any cotton plant or cotton plant product upon which the boll weevil is dependent for completion of any portion of its life cycle. See Louisiana Revised Statutes 3:1603
Cotton producer: means any person who is actively and directly engaged in the production, planting, growing, or farming of cotton for market, or otherwise actively causing cotton to be produced for market. See Louisiana Revised Statutes 3:1603
Court: means a court of competent jurisdiction. See Louisiana Revised Statutes 9:2260.1
Court: means the Nineteenth Judicial District located in Baton Rouge and, in the event of an appeal from such a court, the First Circuit Court of Appeal located in Baton Rouge. See Louisiana Revised Statutes 39:1556
Court: means any court exercising jurisdiction over the determination of child support, paternity, or criminal neglect of family proceedings. See Louisiana Revised Statutes 9:315.31
Court: means a court of competent jurisdiction in the parish of the domicile of the minor. See Louisiana Revised Statutes 9:751
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.
Curator: means a person appointed or qualified by a court to manage the estate of an individual or a person legally authorized to perform substantially the same functions. See Louisiana Revised Statutes 9:2260.1
Custodial property: means any interest in property transferred to a custodian under this Subpart and the income from and proceeds of that interest in property. See Louisiana Revised Statutes 9:751
Custodial trust property: means an interest in property transferred to or held under a declaration of trust by a custodial trustee under this Chapter and the income from and proceeds of that interest. See Louisiana Revised Statutes 9:2260.1
Custodial trustee: means a person designated as trustee of a custodial trust under this Chapter or a substitute or successor to the person designated. See Louisiana Revised Statutes 9:2260.1
Custodian: means a person so designated under Louisiana Revised Statutes 9:751
Data: means recorded information, regardless of form or characteristic. See Louisiana Revised Statutes 39:1556
Debarment: means the disqualification of a person to receive invitations for bids or requests for proposals, or the award of any contract by any governmental body, for a specified period of time commensurate with the seriousness of the offense or the failure or the inadequacy of performance. See Louisiana Revised Statutes 39:1556
Decedent: A deceased person.
Deed: The legal instrument used to transfer title in real property from one person to another.
Department: means the Department of Agriculture and Forestry. See Louisiana Revised Statutes 3:1
Department: means the Louisiana Department of Agriculture and Forestry. See Louisiana Revised Statutes 3:1603
Department: means the Department of Children and Family Services when rendering child support enforcement services in TANF or non-TANF cases. See Louisiana Revised Statutes 9:315.31
Designated beneficiary: means the person most recently designated in writing by a member to receive any benefits to which he may be entitled. See Louisiana Revised Statutes 11:1503
Designee: means a duly authorized representative of a person holding a superior position. See Louisiana Revised Statutes 39:1556
Dismissal: The dropping of a case by the judge without further consideration or hearing. ^Source:
District: means the Acadiana Regional Juvenile Justice District. See Louisiana Revised Statutes 15:1109
Division of Administration: means the Division of Administration created within the office of the governor by Title 39 of the Louisiana Revised Statutes. See Louisiana Revised Statutes 39:1780
Division of administration: means the division of administration created within the office of the governor by Title 39 of the Louisiana Revised Statutes of 1950. See Louisiana Revised Statutes 39:1800.22
Docket: A log containing brief entries of court proceedings.
Donee: The recipient of a gift.
Electronic: means electrical, digital, magnetic, optical, electromagnet, or any other similar technology. See Louisiana Revised Statutes 39:1556
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}
Employee: means any person legally occupying a position in the state service. See Louisiana Revised Statutes 11:403
Employee: means any regular employee of a clerk, minute clerk, and employees of the Louisiana Clerks of Court Association, the Louisiana Clerks' of Court Retirement and Relief Fund, and the Louisiana Clerks of Court Insurance Fund, who works more than an average of twenty hours per week. See Louisiana Revised Statutes 11:1503
Employee: means an individual drawing a salary from a governmental body, whether elected or not, and any nonsalaried individual performing personal services for any governmental body. See Louisiana Revised Statutes 39:1556
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.
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.
Entitlement: A Federal program or provision of law that requires payments to any person or unit of government that meets the eligibility criteria established by law. Entitlements constitute a binding obligation on the part of the Federal Government, and eligible recipients have legal recourse if the obligation is not fulfilled. Social Security and veterans' compensation and pensions are examples of entitlement programs.
Equipment-lease-purchase contract: means the lease-purchase contract in the form approved by the State Bond Commission and the commissioner of administration between the state and a nonprofit lessor providing for an obligation to lease equipment approved pursuant to Louisiana Revised Statutes 39:1763
Ex officio: Literally, by virtue of one's office.
Excess benefit participant: shall mean any member whose retirement benefit, as determined on the basis of all qualified plans without regard to the limitations of Louisiana Revised Statutes 11:1492
Executive session: A portion of the Senate's daily session in which it considers executive business.
Executor: A male person named in a will to carry out the decedent
External procurement activity: means any buying organization not located in this state which, if located in this state, would qualify as a public procurement unit. See Louisiana Revised Statutes 39:1556
Federal Deposit Insurance Corporation: A government corporation that insures the deposits of all national and state banks that are members of the Federal Reserve System. ^{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.
Fiduciary: means any person, firm, partnership, association, or state bank, including a usufructuary, who or which occupies a position of peculiar confidence toward any person, firm, association, partnership, trust, or estate. See Louisiana Revised Statutes 6:201
Financial institution: means a bank, trust company, savings institution, or credit union, chartered and supervised under state or federal law. See Louisiana Revised Statutes 9:751
Fish: as used in this Part , means all fish as defined in Louisiana Revised Statutes 56:301
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}
foreign representative: shall mean a person in a foreign country whose education and experience qualify such person to represent the state in such foreign country. See Louisiana Revised Statutes 39:1556
foreign trust: shall mean any of the following:
(1) A trust which by the terms of the trust instrument is governed by the law of a jurisdiction other than Louisiana. See Louisiana Revised Statutes 9:2262.1
Fully registered form: means securities which are registered as to the ownership of both the principal, interest, and premium, if any, thereon in any one or more of the following forms:
(a) by the utilization of a registrar/transfer agent or by the public entity;
(b) a book entry system, whether computerized or otherwise, or other system for recording the ownership of the principal, interest, and premium, if any, that identifies the owner of any interest in securities;
(c) a single security representing an entire issue of securities held by a financial institution or other person as trustee or agent with the ownership interest in such security being in fully registered form as provided for in this Chapter;
(d) any other form pursuant to which the ownership of and payment of principal, interest, and premium, if any, on securities are registered. See Louisiana Revised Statutes 39:1431
Fund: means the Assessors' Retirement Fund. See Louisiana Revised Statutes 11:1402
Fund: means the Clerks' of Court Retirement and Relief Fund. See Louisiana Revised Statutes 11:1503
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
general alimony tax: as used in this Chapter shall be construed to mean the parish or municipal tax authorized by Sections 11 and 12 of Art. See Louisiana Revised Statutes 39:1129
Germane: On the subject of the pending bill or other business; a strict standard of relevance.
Government obligations: means direct obligations of or obligations the payment of the principal and interest of which is unconditionally guaranteed by the United States of America. See Louisiana Revised Statutes 39:1461
Governmental body: means any department, office, division, commission, council, board, bureau, committee, institution, agency, government corporation, or other establishment or official of the executive branch of state government. See Louisiana Revised Statutes 39:1556
Governmental entity: means any governmental unit which is not included in the definition of "governmental body" in this Section. See Louisiana Revised Statutes 39:1556
Grand jury: agreement providing that a lender will delay exercising its rights (in the case of a mortgage,
Grant: means the furnishing by the state of assistance, whether financial or otherwise, to any person to support a program authorized by law. See Louisiana Revised Statutes 39:1556
Guarantor: A party who agrees to be responsible for the payment of another party's debts should that party default. ^{Source: OCC}
Handler: shall mean any person handling sweet potatoes in the primary channels of trade. See Louisiana Revised Statutes 3:1742
Hull Number: means the number assigned to a ship by the builder. See Louisiana Revised Statutes 9:5522
in writing: means the product of any method of forming characters on paper, other materials, or viewable screen, which can be read, retrieved, and reproduced, including information that is electronically transmitted and stored. See Louisiana Revised Statutes 39:1556
Incapacitated: means lacking the ability to manage property and business affairs effectively by reason of mental illness, mental deficiency, physical illness or disability, chronic use of drugs, chronic intoxication, confinement, detention by a foreign power, disappearance, minority, or other disabling cause. See Louisiana Revised Statutes 9:2260.1
Income: means :
(a) Actual gross income of a party, if the party is employed to full capacity; or
(b) Potential income of a party, if the party is voluntarily unemployed or underemployed. See Louisiana Revised Statutes 9:315
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}
Instrument: means any instrument, whether or not negotiable, which evidences the indebtedness of one or more persons. See Louisiana Revised Statutes 9:5321
Intangible property: Property that has no intrinsic value, but is merely the evidence of value such as stock certificates, bonds, and promissory notes.
Inter vivos: Transfer of property from one living person to another living person.
Intestate: Dying without leaving a will.
Invitation for bids: means all documents, whether attached or incorporated by reference, utilized for soliciting bids in accordance with the procedures set forth in Louisiana Revised Statutes 39:1556
Irrevocable trust: A trust arrangement that cannot be revoked, rescinded, or repealed by the grantor.
Issuer: means the public entity issuing refunding bonds. See Louisiana Revised Statutes 39:1444
Issuing resolution: means a resolution, ordinance, or other instrument or proceeding providing for the issuance of securities. See Louisiana Revised Statutes 39:1431
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.
Lease-purchase financing: means the financing and acquisition of property by a corporation pursuant to an arrangement under which such corporation acquires title to property and enters into a lease-purchase agreement with the state providing for the leasing of the property by such corporation to the state and acquisition by the state at the end of the lease period of title to the property. See Louisiana Revised Statutes 39:1800.22
Legal representative: means a personal representative, tutor, or curator. See Louisiana Revised Statutes 9:2260.1
Legal representative: means an individual's personal representative or tutor. See Louisiana Revised Statutes 9:751
Legatee: A beneficiary of a decedent
Legislative session: That part of a chamber's daily session in which it considers legislative business (bills, resolutions, and actions related thereto).
Lessee: shall mean the state of Louisiana through the Division of Administration on behalf of all applicable purchasing agencies which have equipment included in any equipment-lease-purchase contract. See Louisiana Revised Statutes 39:1763
lessor: means a public corporation or public trust organized pursuant to state law having for its beneficiary the state, organized as a not-for-profit entity no portion of the net earnings or other assets of which inure to the benefit of any private shareholder or individual, and which shall be authorized under state law to issue obligations for equipment acquisition the interest on which is exempt from calculation of gross income for federal income tax purposes. See Louisiana Revised Statutes 39:1763
License: means any license, certification, registration, permit, approval, or other similar document evidencing admission to or granting authority for any of the following:
(a) To engage in a profession, occupation, business, or industry. See Louisiana Revised Statutes 9:315.31
Licensed mental health professional: as used in this Chapter means a person who possesses at least a master's degree and who is licensed in counseling, social work, psychology, marriage and family counseling, or exempt from licensing requirements pursuant to Louisiana Revised Statutes 9:331
Lien: A claim against real or personal property in satisfaction of a debt.
Limited tax bonds: means bonds payable from any taxes other than unlimited ad valorem taxes. See Louisiana Revised Statutes 39:1444
Lineal descendant: Direct descendant of the same ancestors.
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 3:2802
Local public procurement unit: means any parish, city, town, governmental body, and any other subdivision of the state or public agency thereof, public authority, public educational, health, or other institution, and to the extent provided by law, any other entity which expends public funds for the acquisition or leasing of supplies, services, major repairs, and construction, and any nonprofit corporation operating a charitable hospital. See Louisiana Revised Statutes 39:1556
Major repairs: means those repairs payable with funds appropriated in the general appropriations act, except those funds transferred from the operating budget of one governmental body to supplement and complete a project under contract by the division of administration facility planning and control section. See Louisiana Revised Statutes 39:1556
Materials: means all materials (other than piping, cables, fittings, and other materials taken out of builder's stock), all items of machinery, and all items of equipment (other than equipment taken out of builder's stock) which are purchased or acquired for use in the construction of the ship, which will, when so used, form a part of the ship and which have been delivered to the shipyard. See Louisiana Revised Statutes 9:5522
Maximum benefit: shall mean the retirement benefit a member is entitled to receive from the fund set forth in Part III of this Chapter, in any month after giving effect to Louisiana Revised Statutes 11:1492
Member: means any person included in the membership of the system. See Louisiana Revised Statutes 11:403
Minor: means an individual who has not attained the age of twenty-two years. See Louisiana Revised Statutes 9:751
Minor child: means a child who is less than the age of eighteen years or who has a physical or mental disability, regardless of age, who is the issue of a marriage of the member or former member, the legally adopted child of a member or former member, the natural child of a female member or former member, or the child of a male member or former member if a court of competent jurisdiction has, during the lifetime of such male member or former member, issued an order of filiation declaring the paternity of such male member for the child. See Louisiana Revised Statutes 11:1503
Monthly average final compensation: means the average of a member's monthly salary during the highest compensated sixty consecutive months or successive joined months if service was interrupted. See Louisiana Revised Statutes 11:1503
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.
mother: means a female human being, whether or not she has reached the age of majority. See Louisiana Revised Statutes 14:87.1
National Bank: A bank that is subject to the supervision of the Comptroller of the Currency. The Office of the Comptroller of the Currency is a bureau of the U.S. Treasury Department. A national bank can be recognized because it must have "national" or "national association" in its name. ^{Source: OCC}
Negotiation: means the formulation of a contractual relationship through discussions as may be allowed under this Chapter. See Louisiana Revised Statutes 39:1556
Obligor: means any individual legally obligated to support a child or children pursuant to an order of support. See Louisiana Revised Statutes 9:315.31
Order of support: means any judgment or order for the support of dependent children issued by any court of this state or another state, including any judgment or order issued in accordance with an administrative procedure established by state law that affords substantial due process and is subject to judicial review. See Louisiana Revised Statutes 9:315.31
Outstanding bonds: means all or any one or more of the following bonds issued directly by the state or by any state board, agency, or commission which may be outstanding at any time:
(a) General obligation bonds which are secured by the full faith and credit of the state, which may or may not be payable from the Bond Security and Redemption Fund, including those bonds which are payable primarily from specified portions of specific taxes or other dedicated revenues. See Louisiana Revised Statutes 39:1461
Owner: as used in this Subpart , means the person having legal ownership of the vessel and can be an individual person, association, corporation, partnership, or other legal entity recognized by law. See Louisiana Revised Statutes 56:304
Participant: means a person who contributes money into a pyramid promotional scheme. See Louisiana Revised Statutes 51:361
past due child support: means the amount of a delinquency determined under a court order under state law for support and maintenance of a child. See Louisiana Revised Statutes 9:315.26
Person: means an individual or any legal or commercial entity, including a corporation, business trust, partnership, limited liability company, association, or joint venture. See Louisiana Revised Statutes 3:1
Person: means an individual, corporation, business trust, estate, trust, partnership, joint venture, association, or any other legal or commercial entity. See Louisiana Revised Statutes 9:2260.1
Person: includes an individual, corporation, trust, partnership, joint venture, or other organization. See Louisiana Revised Statutes 9:5522
Person: means any individual, firm, company, corporation, partnership, society, association, or other business or public entity. See Louisiana Revised Statutes 3:1603
Person: means an individual, a corporation, a partnership, or any association, or unincorporated organization. See Louisiana Revised Statutes 51:361
Person: means any business, individual, union, committee, club, or other organization or group of individuals. See Louisiana Revised Statutes 39:1556
Person: means an individual, corporation, organization, or other legal entity. See Louisiana Revised Statutes 9:751
Personal property: All property that is not real property.
Personal representative: means an executor, administrator, or representative of a decedent's estate, a person legally authorized to perform substantially the same functions, or a successor to any of them. See Louisiana Revised Statutes 9:2260.1
Plaintiff: The person who files the complaint in a civil lawsuit.
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.
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}
Practicable: means that which can be done or put into practice; feasible. See Louisiana Revised Statutes 39:1556
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.
Principal residence of a child: means :
(a) The location designated by a court to be the primary residence of the child. See Louisiana Revised Statutes 9:355.1
Private procurement unit: means any regionally accredited independent college or university in the state that is a member of the Louisiana Association of Independent Colleges and Universities or any early learning center as defined in Louisiana Revised Statutes 39:1556
Probation: A sentencing alternative to imprisonment in which the court releases convicted defendants under supervision as long as certain conditions are observed.
Processor: shall mean any person, partnership, association, or corporation engaged in the canning, freezing, or dehydrating of sweet potatoes. See Louisiana Revised Statutes 3:1742
Procurement: means the buying, purchasing, renting, leasing, or otherwise obtaining any supplies, services, or major repairs. See Louisiana Revised Statutes 39:1556
Procurement officer: means any person authorized by a governmental body, in accordance with procedures prescribed by regulations, to enter into and administer contracts and make written determinations and findings with respect thereto. See Louisiana Revised Statutes 39:1556
Project: means the financing of a correctional facility by the state, to be financed with funds provided in whole or in part pursuant to this Chapter. See Louisiana Revised Statutes 39:1780
Project: means the planning, acquisition, purchase, construction, renovation, improvement, equipping, or expansion of a public facility by the corporation, provided that no more than fifty percent of the total project cost shall be financed with funds provided through bonds issued pursuant to this Chapter. See Louisiana Revised Statutes 39:1800.22
Promote: means to contrive, direct, establish, or operate a pyramid promotional scheme. See Louisiana Revised Statutes 51:361
Public entities: means : (a) state boards, agencies or commissions, parishes, municipalities, parish and municipal school boards and districts, levee boards and districts, port boards and commissions, port, harbor, terminal and industrial districts, drainage and land reclamation districts, all special service districts including, but not limited to, road, water, sewerage, fire protection, recreation, hospital service, gas utility and garbage districts; (b) all other political subdivisions, special authorities, commissions, public trusts and boards heretofore or hereafter created by or pursuant to the constitution or statutes of the state, any laws incorporated into or ratified or confirmed by the constitution, or general or special charters of any parish or municipality; and (c) all other units of local government created by or governed by the governing authorities of parishes or municipalities. See Louisiana Revised Statutes 39:1421
Public entities: means :
(a) the state of Louisiana and state departments. See Louisiana Revised Statutes 39:1431
public entity: means any one of the following, acting alone or in conjunction with any other:
(a) State boards, commissions, or agencies; parishes; municipalities; parish and municipal school boards and districts; levee boards and districts; port boards and commissions; port, harbor, terminal, and industrial districts; drainage and land reclamation districts; all special service districts, including but not limited to road, water, sewerage, fire protection, recreation, hospital service, gas utility, and garbage districts; public trusts; and industrial development boards;
(b) All other political subdivisions, special authorities, commissions, and boards heretofore or hereafter created by or pursuant to the constitution or statutes of the state, any laws incorporated into or ratified or confirmed by the constitution, or general or special charters of any parish or municipality; and
(c) Any other unit of local government created or governed by the governing authority of any parish or municipality. See Louisiana Revised Statutes 39:1444
public entity: means any one of the following, acting alone or in conjunction with any other:
(a) State boards, commissions, or agencies; parishes; municipalities; parish and municipal school boards and districts; levee boards and districts; port boards and commissions; port, harbor and terminal, and industrial districts; drainage and land reclamation districts; all special service districts, including but not limited to road, water, sewerage, fire protection, recreation, hospital service, gas utility, and garbage districts; public trusts; and industrial development boards;
(b) All other political subdivisions, special authorities, commissions, and boards heretofore or hereafter created by or pursuant to the constitution or statutes of the state, any laws incorporated into or ratified or confirmed by the constitution, or general or special charters of any parish or municipality; and
(c) Any other unit of local government created or governed by the governing authority of any parish or municipality. See Louisiana Revised Statutes 39:1470
Public facilities: means buildings, parking garages, and related facilities used or to be used to house personnel, equipment, and/or services of the various agencies of the state government. See Louisiana Revised Statutes 39:1798
Public facilities: means buildings, parking garages, and related facilities used or to be used as a center of excellence for students, faculty and staff of the Louisiana Community and Technical College System, and all land, buildings and movable or immovable equipment incorporated therein and relating thereto. See Louisiana Revised Statutes 39:1800.22
Public procurement unit: means either a local public procurement unit or a state public procurement unit. See Louisiana Revised Statutes 39:1556
Purchaser: means the person for whom a ship is to be constructed pursuant to a contract. See Louisiana Revised Statutes 9:5522
Purchasing agency: means any governmental body which is authorized by this Chapter or its implementing regulations, or by way of delegation from the state chief procurement officer, to contract on its own behalf rather than through the central contracting authority of the office of state procurement. See Louisiana Revised Statutes 39:1556
Pyramid promotional scheme: means any plan or operation by which a participant gives consideration for the opportunity to receive compensation which is derived primarily from the person's introduction of other persons into a plan or operation rather than from the sale of goods, services, or intangible property by the participant or other persons introduced into the plan or operation. See Louisiana Revised Statutes 51:361
Qualified group purchasing organization: means a service organization, whether for profit or not, with a membership of at least fifteen hospitals within the United States, which contracts with suppliers for supplies and materials used in hospitals and makes such contracts available to its members. See Louisiana Revised Statutes 39:1556
Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
Reasonable commercial terms: includes repurchase by the seller, at the participant's request, and upon termination of the business relationship or contract with the seller, of all unencumbered products purchased by the participant from the seller within the previous twelve months which are unused and in commercially resalable condition, provided that repurchase by the seller shall be for not less than ninety percent of the actual amount paid by the participant to the seller of the products, less any consideration received by the participant for purchase of the products which are being returned. See Louisiana Revised Statutes 51:361
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}
Refund: means the act of refunding, including readjusting, extending, and unifying outstanding bonds or issues of bonds. See Louisiana Revised Statutes 39:1461
Refund: means the withdrawal of all accumulated contributions at least thirty days after termination from the state service, or with respect to members having the option of belonging to the system, withdrawal of all accumulated contributions at least thirty days after receipt by the system of written notice of withdrawal. See Louisiana Revised Statutes 11:403
Refunded bonds: means the bonds being refunded by the issuance of refunding bonds. See Louisiana Revised Statutes 39:1461
Refunding bonds: means any securities issued to refund outstanding securities. See Louisiana Revised Statutes 39:1444
Relocation: means a change in the principal residence of a child for a period of sixty days or more, but does not include a temporary absence from the principal residence. See Louisiana Revised Statutes 9:355.1
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).
Request for proposals: means all documents, whether attached or incorporated by reference, utilized for soliciting proposals in accordance with the procedures set forth in this Chapter. See Louisiana Revised Statutes 39:1556
Restitution: The court-ordered payment of money by the defendant to the victim for damages caused by the criminal action.
Retirement: means termination of active service, with a retirement allowance granted under the provisions of this Chapter. See Louisiana Revised Statutes 11:403
Revenue bonds: shall mean bonds or other debt obligations payable from and secured solely by a pledge of the income and revenues derived or to be derived from fees, rates, rentals, tolls, charges, grants, or other receipts, income or revenues derived from any properties or facilities belonging to a public entity or the use thereof. See Louisiana Revised Statutes 39:1421
Revenue bonds: means securities payable from and secured solely by a pledge of the income and revenues derived or to be derived from fees, rates, rentals, tolls, charges, grants, or other receipts, income, or revenues derived from any properties or facilities belonging to or leased by a public entity or from obligations owed to such entity or from obligations arising in connection with an undertaking, facility, project, or any combination thereof. See Louisiana Revised Statutes 39:1444
Right of survivorship: The ownership rights that result in the acquisition of title to property by reason of having survived other co-owners.
Rural Property: means a tract of land which is at least forty acres in area and from which at least seventy-five percent of the income derived is from agricultural or livestock purposes or mineral income and which is not located within the territorial limits of any incorporated municipality. See Louisiana Revised Statutes 9:5321
Salary: means the full rate of regular compensation paid to a member for the performance of his official duties, but shall not include bonuses, payment for accrued vacation, annual or sick leave, payment for overtime, terminal pay, severance pay, deferred salary, or any other type of irregular or nonrecurring payment. See Louisiana Revised Statutes 11:1503
Securities: means bonds, notes, certificates or other written obligations for the repayment of borrowed money, including obligations to refund any of the foregoing. See Louisiana Revised Statutes 39:1421
Securities: means bonds, notes, certificates, or other obligations for the repayment of borrowed money, including obligations to refund any of the foregoing. See Louisiana Revised Statutes 39:1431
Securities: means bonds, notes, certificates, or other written obligations for the repayment of borrowed money, including obligations to refund any of them. See Louisiana Revised Statutes 39:1441
Securities: means bonds, notes, certificates, or other written obligations for the repayment of borrowed money. See Louisiana Revised Statutes 39:1444
Securities: means bonds, notes, certificates, or other written obligations for the repayment of borrowed money. See Louisiana Revised Statutes 39:1470
Selected equipment: means the equipment, as determined by the applicable purchasing agency, which shall be the subject of a lease-purchase contract under the provisions of this Chapter, as approved by the legislature and the State Bond Commission. See Louisiana Revised Statutes 39:1763
Selected vendor: means a supplier, manufacturer, retailer, wholesaler, dealer, or other source for selected equipment which has been selected by the applicable purchasing agency pursuant to general state law. See Louisiana Revised Statutes 39:1763
Services: means the furnishing of labor, time, or effort by a contractor whose primary purpose is to perform an identifiable task rather than to furnish an end item of supply. See Louisiana Revised Statutes 39:1556
Shares: means the units into which the stockholders' rights to participate in the control of the state bank, in its profits, or in the distribution of corporate assets are divided. See Louisiana Revised Statutes 6:201
Ship: means a tug, pushboat, pullboat, barge, dredge, or other vessel or watercraft of more than fifty tons gross weight to be constructed within the state of Louisiana. See Louisiana Revised Statutes 9:5522
Shipment: shall be deemed to take place when the sweet potatoes are loaded within the state in a railroad car, boat, truck or other conveyance in which sweet potatoes are to be transported;
(5) "Commission" means the Louisiana Sweet Potato Advertising and Development Commission. See Louisiana Revised Statutes 3:1742
Shipyard: means the shipyard or place of business where a ship is to be constructed. See Louisiana Revised Statutes 9:5522
Signature: means a manual or electronic signature. See Louisiana Revised Statutes 39:1556
Social service: means work rendered by any person, firm, corporation, organization, governmental body, or governmental entity in furtherance of the general welfare of the citizens of Louisiana, including but not limited to the objectives provided for in Louisiana Revised Statutes 39:1556
Specification: means any description of the physical or functional characteristics, or of the nature of a supply, service, or major repair. See Louisiana Revised Statutes 39:1556
Spouse: means a person who is legally married to a member of this system. See Louisiana Revised Statutes 11:403
State: means a state, territory, or possession of the United States, the District of Columbia, or the Commonwealth of Puerto Rico. See Louisiana Revised Statutes 9:2260.1
State: means the state of Louisiana, and for purposes of execution of equipment-lease-purchase contracts, the Division of Administration of the state, which shall be considered the lessee for all applicable purchasing agencies for the purposes of this Chapter. See Louisiana Revised Statutes 39:1763
State: means the state of Louisiana or any agency or instrumentality thereof. See Louisiana Revised Statutes 39:1780
State: means the state of Louisiana or any agency or instrumentality thereof. See Louisiana Revised Statutes 39:1798
State: means the state of Louisiana. See Louisiana Revised Statutes 11:403
State: includes any state of the United States, the District of Columbia, the Commonwealth of Puerto Rico, and any territory or possession subject to the legislative authority of the United States. See Louisiana Revised Statutes 9:751
State agencies: means the executive branch, the legislative branch, and the judicial branch of state government and the officers and employees thereof, but does not include parish officials set forth in Article VI, Sections 5(G) and 7(B) of the Constitution of Louisiana or their respective officers, deputies, employees, or appointees. See Louisiana Revised Statutes 39:1527
State chief procurement officer: means the person holding the position created in Louisiana Revised Statutes 39:1556
State public procurement unit: means the central purchasing agency and any other purchasing agency of this state. See Louisiana Revised Statutes 39:1556
Stockholder: means the holder of record of one or more shares. See Louisiana Revised Statutes 6:201
Supplemental agreement: means any contract modification which is accomplished by the mutual action of the parties. See Louisiana Revised Statutes 39:1556
Supplies: means all property, including but not limited to equipment, materials, insurance, and leases on immovable property excluding land or a permanent interest in land. See Louisiana Revised Statutes 39:1556
Surplus: means sums contributed by stockholders in excess of the par value of shares outstanding plus any amounts transferred from undivided profits pursuant to action by the board of directors. See Louisiana Revised Statutes 6:201
Surviving spouse: means the spouse of a deceased member or former member who was married to and living with the deceased member or former member at the time of his death. See Louisiana Revised Statutes 11:1503
Suspension: means the disqualification of a person to receive invitations for bids or requests for proposals, or the award of a contract by the state, for a temporary period pending the completion of an investigation and any legal proceedings that may ensue because a person is suspected upon probable cause of engaging in criminal, fraudulent, or seriously improper conduct or failure or inadequacy of performance which may lead to debarment. See Louisiana Revised Statutes 39:1556
Sweet potatoes: means all sweet potatoes of the grades as recommended by the United States Department of Agriculture and such other grades as may be promulgated by the Louisiana Sweet Potato Advertising and Development Commission;
(2) "Bushel" means 50 pounds of sweet potatoes whether such potatoes are in crates, sacks or other containers, or in bulk;
(3) "Shipper" means any person, partnership, association, or corporation, engaged in the packaging and shipping or either packaging or shipping, of sweet potatoes or transporting sweet potatoes whether as owner, agent, or otherwise;
(4) "Shipment" shall be deemed to take place when the sweet potatoes are loaded within the state in a railroad car, boat, truck or other conveyance in which sweet potatoes are to be transported;
(5) "Commission" means the Louisiana Sweet Potato Advertising and Development Commission. See Louisiana Revised Statutes 3:1742
System: means the Louisiana Community and Technical College System. See Louisiana Revised Statutes 39:1800.22
System: means the Louisiana State Employees' Retirement System. See Louisiana Revised Statutes 11:403
System: means the Clerks' of Court Retirement and Relief Fund. See Louisiana Revised Statutes 11:1503
Termination: means complete cessation of employment with the state. See Louisiana Revised Statutes 11:403
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.
Total voting power: means the entirety of the voting power. See Louisiana Revised Statutes 6:201
Transfer: means a transaction that creates custodial property under Louisiana Revised Statutes 9:751
Transferor: means a person who creates a custodial trust by transfer or declaration. See Louisiana Revised Statutes 9:2260.1
Transferor: means a person who makes a transfer under this Subpart. See Louisiana Revised Statutes 9:751
Trust account: A general term that covers all types of accounts in a trust department, such as estates, guardianships, and agencies. ^{Source: OCC}
Trust company: means a financial institution, corporation, or other legal entity, authorized to exercise general trust powers. See Louisiana Revised Statutes 9:2260.1
Trust company: means a financial institution, corporation, or other legal entity authorized to exercise general trust powers. See Louisiana Revised Statutes 9:751
Tutor: means a person appointed or qualified by a court to act as guardian of a minor's property or a person legally authorized to perform substantially the same functions. See Louisiana Revised Statutes 9:2260.1
Tutor: means a person appointed or qualified by a court to act as guardian of a minor's property or a person legally authorized to perform substantially the same functions, including but not limited to a curator. See Louisiana Revised Statutes 9:751
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}
Unrestricted benefit: shall mean the monthly retirement benefit a member, or the spouse, child, or single dependent parent of a member, would have received under the terms of all qualified plans of the employer, except for the restrictions of Louisiana Revised Statutes 11:1492
Using agency: means any governmental body of the state which utilizes any supplies, services, or major repairs purchased under this Chapter. See Louisiana Revised Statutes 39:1556
Verdict: The decision of a petit jury or a judge.
Veto: The procedure established under the Constitution by which the President/Governor refuses to approve a bill or joint resolution and thus prevents its enactment into law. A regular veto occurs when the President/Governor returns the legislation to the house in which it originated. The President/Governor usually returns a vetoed bill with a message indicating his reasons for rejecting the measure. In Congress, the veto can be overridden only by a two-thirds vote in both the Senate and the House.
Voting power: means the right vested by law or by the articles or the bylaws in the stockholder or in one or more classes of stockholder to vote in the determination of any particular question or matter coming before meetings of the stockholders. See Louisiana Revised Statutes 6:201
Voting power present: means that part of the voting power exercisable by the stockholders present in person or represented by proxy at the meeting at which the stockholders take action on a particular question or matter. See Louisiana Revised Statutes 6:201
Work: means in the case of a ship having a keel, the keel, and in the case of a ship not having a keel, the bottom plates, and all materials, machinery, equipment, components, and fabrications forming a part of the ship when permanently installed in place. See Louisiana Revised Statutes 9:5522
Writ: A formal written command, issued from the court, requiring the performance of a specific act.

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Louisiana Revised Statutes > Title 9 > CODE TITLE XXII – Of Mortgages

Terms Used In Louisiana Revised Statutes > Title 9 > CODE TITLE XXII - Of Mortgages

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