Terms Used In Louisiana Revised Statutes > Title 17 > Chapter 11 - Taxation and Fiscal Affairs

• Accident: means an unexpected or unforeseen actual, identifiable, precipitous event happening suddenly or violently, with or without human fault, and directly producing at the time objective findings of an injury which is more than simply a gradual deterioration or progressive degeneration. See Louisiana Revised Statutes 23:1021
• 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.
• Affiliated company: means a company in the same corporate system as its parent or a member organization by virtue of common ownership, control, operation or management. See Louisiana Revised Statutes 22:550.2
• 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
• 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.
• 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.
• 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
• Association: means a legal entity consisting of two or more corporations, partnerships, associations or other forms of business organizations that are engaged in businesses or activities similar or related to a common business, trade, product, services, premises or operations. See Louisiana Revised Statutes 22:550.2
• Association captive insurer: means any company that insures only the risks of the member organizations of the association, affiliated companies of the member organizations, and the risks of the association itself. See Louisiana Revised Statutes 22:550.2
• 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.
• Captive insurer: means any pure captive insurer or association captive insurer formed or licensed under the provisions of this Subpart. See Louisiana Revised Statutes 22:550.2
• Cash equivalents: means any short-term, highly liquid investments that are both (a) readily convertible to known amounts of cash, and (b) so near their maturity that they present insignificant risk of changes in value due to changes in interest rates. See Louisiana Revised Statutes 22:550.2
• Charity: An agency, institution, or organization in existence and operating for the benefit of an indefinite number of persons and conducted for educational, religious, scientific, medical, or other beneficent purposes.
• 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
• Civil forfeiture: The loss of ownership of property used to conduct illegal activity.
• Commissioner: means the commissioner of insurance. See Louisiana Revised Statutes 22:550.2
• commissioner: shall mean the commissioner of insurance. See Louisiana Revised Statutes 22:1451
• Competitive market: means any market except those which have been found to be noncompetitive pursuant to Louisiana Revised Statutes 22:1452
• 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
• Continuance: Putting off of a hearing ot trial until a later time.
• 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
• 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
• Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
• Department: means the Department of Insurance. See Louisiana Revised Statutes 22:550.2
• Dependent: A person dependent for support upon another.
• Dependent: means the person or persons to whom, under the provisions of Part II of this Chapter, compensation shall be paid upon the death of the injured employee. See Louisiana Revised Statutes 23:1021
• 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.
• Depository: means an institution which contracts with the state librarian to participate in the public document depository system. See Louisiana Revised Statutes 25:121.1
• Devise: To gift property by will.
• Discovery: Lawyers' examination, before trial, of facts and documents in possession of the opponents to help the lawyers prepare for trial.
• Dismissal: The dropping of a case by the judge without further consideration or hearing. ^Source:
• Docket: A log containing brief entries of court proceedings.
• Donee: The recipient of a gift.
• Donor: The person who makes 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
• Dyslexia: means an unexpected difficulty in reading for an individual who has the intelligence to be a much better reader, most commonly caused by a difficulty in phonological processing, which affects the ability of an individual to speak, read, and spell. See Louisiana Revised Statutes 17:392.11
• Education service agency: means a regional public multiservice administrative agency authorized by state law to develop, manage, and provide services or programs to local education agencies and includes any other public institution or agency having administrative control and direction over a public elementary or secondary school. See Louisiana Revised Statutes 17:1942
• Educational accountability: means the respective responsibilities and duties, under the provisions of this Part, of local school boards, administrators, principals, teachers, and other personnel; the state Department of Education and its personnel; parents, students, and any other governing authority. See Louisiana Revised Statutes 17:391.2
• 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.
• Excessive: means a rate that is likely to produce a long-term profit that is unreasonably high for the insurance provided. See Louisiana Revised Statutes 22:1452
• Expenses: means that portion of a rate attributable to acquisition, field supervision, collection expenses, general expenses, taxes, licenses, and fees and does not include loss adjustment expenses. See Louisiana Revised Statutes 22:1452
• Fair market value: The price at which an asset would change hands in a transaction between a willing, informed buyer and a willing, informed seller.
• 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}
• Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
• 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.
• Hazardous financial condition: means that, based upon its present or reasonably anticipated financial condition, a captive insurer, although not yet financially impaired or insolvent, is unlikely to be able to:

              (a) Meet obligations to policyholders with respect to known claims and reasonably anticipated claims. See Louisiana Revised Statutes 22:550.2

• Health care provider: means a hospital, a person, corporation, facility, or institution licensed by the state to provide health care or professional services as a physician, hospital, dentist, registered or licensed practical nurse, pharmacist, optometrist, podiatrist, chiropractor, physical therapist, occupational therapist, psychologist, graduate social worker or licensed clinical social worker, psychiatrist, or licensed professional counselor, and any officer, employee, or agent thereby acting in the course and scope of his employment. See Louisiana Revised Statutes 23:1021
• home solicitation sale: as used in this Part , shall be defined as provided in Louisiana Revised Statutes 9:3538
• Inadequate: means a rate which is unreasonably low for the insurance provided and either the continued use of which endangers the solvency of the insurer using it or will have the effect of substantially lessening competition or creating a monopoly in any market. See Louisiana Revised Statutes 22:1452
• Independent contractor: means any person who renders service, other than manual labor, for a specified recompense for a specified result either as a unit or as a whole, under the control of his principal as to results of his work only, and not as to the means by which such result is accomplished, and are expressly excluded from the provisions of this Chapter unless a substantial part of the work time of an independent contractor is spent in manual labor by him in carrying out the terms of the contract, in which case the independent contractor is expressly covered by the provisions of this Chapter. See Louisiana Revised Statutes 23:1021
• Injunction: An order of the court prohibiting (or compelling) the performance of a specific act to prevent irreparable damage or injury.
• 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}
• Issued shares: means outstanding shares. See Louisiana Revised Statutes 6:201
• Jurisprudence: The study of law and the structure of the legal system.
• Juror: A person who is on the jury.
• 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}
• Legal tender: coins, dollar bills, or other currency issued by a government as official money. ^{Source: U.S. Mint}
• 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
• Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
• Line of insurance: means those lines identified in this Title or as otherwise specified by the commissioner. See Louisiana Revised Statutes 22:1452
• Litigation: A case, controversy, or lawsuit. Participants (plaintiffs and defendants) in lawsuits are called litigants.
• Local education agency: means a public board of education or other public authority legally constituted within Louisiana for administrative control and direction of or to perform a service function for public elementary or secondary schools in a city, parish, or other local public school district or other political subdivision. See Louisiana Revised Statutes 17:1942
• Market: means the interaction between buyers and sellers in the procurement of a line of insurance pursuant to the provisions of this Subpart. See Louisiana Revised Statutes 22:1452
• Member organization: means any corporation, partnership, association or other form of business organization that belongs to an association. See Louisiana Revised Statutes 22:550.2
• 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.
• 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}
• Nonpayment of premium: means failure of the named insured to discharge when due any of his obligations in connection with the payment of premiums on a policy, or any installment of such premium, whether the premium is payable directly to the insurer or its agent or indirectly under any premium finance plan or extension of credit. See Louisiana Revised Statutes 22:1266
• Oath: A promise to tell the truth.
• Office: means the office of workers' compensation administration established pursuant to Louisiana Revised Statutes 23:1021
• Parent: means a corporation, limited liability company, partnership, association or other form of business organization that directly or indirectly owns, controls or holds with power to vote more than fifty-one percent of the outstanding voting securities of a captive insurer organized as a stock corporation. See Louisiana Revised Statutes 22:550.2
• Payor: means the entity responsible, whether by law or contract, for the payment of benefits incurred by a claimant as a result of a work related injury. See Louisiana Revised Statutes 23:1021
• 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
• Personal property: All property that is not real property.
• Phonological processing: means the appreciation of the individual sounds of spoken and written language. See Louisiana Revised Statutes 17:392.11
• 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.
• Policy: means an automobile liability, automobile physical damage, or automobile collision policy, or any combination thereof, delivered or issued for delivery in this state, or any binder based on such a policy, insuring a single individual or husband and wife resident of the same household, as named insured, and under which the insured vehicles therein designated are of the following types only:

              (a) A private passenger vehicle that is not used as a public or livery conveyance for passengers, nor rented to others. See Louisiana Revised Statutes 22:1266

• 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}
• Presiding officer: A majority-party Senator who presides over the Senate and is charged with maintaining order and decorum, recognizing Members to speak, and interpreting the Senate's rules, practices and precedents.
• Pretrial conference: A meeting of the judge and lawyers to discuss which matters should be presented to the jury, to review evidence and witnesses, to set a timetable, and to discuss the settlement of the case.
• Probable cause: A reasonable ground for belief that the offender violated a specific law.
• Prosecute: To charge someone with a crime. A prosecutor tries a criminal case on behalf of the government.
• Public document: means informational matter, for public distribution regardless of format, method of reproduction, source, or copyright, originating in or produced with the imprint of, by the authority of, or at the total or partial expense of, any state agency. See Louisiana Revised Statutes 25:121.1
• 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 schools: means the public elementary and secondary schools governed by the parish and city school boards. See Louisiana Revised Statutes 17:391.2
• Pure captive insurer: means a captive insurer that insures only the risks of its parent and affiliated companies. See Louisiana Revised Statutes 22:550.2
• Rate: means that cost of insurance per exposure unit, whether expressed as a single number or as a prospective loss cost, with an adjustment to account for the treatment of loss adjustment expenses, expenses, profit, and variation in expected future loss experience, prior to any application of individual risk variations based on actual past loss or expense considerations, and does not include minimum premiums. See Louisiana Revised Statutes 22:1452
• 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).
• Restitution: The court-ordered payment of money by the defendant to the victim for damages caused by the criminal action.
• 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 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

• School board: means a parish or city school board. See Louisiana Revised Statutes 17:391.2
• School district: means the area of each parish or municipality under the jurisdiction of a school board. See Louisiana Revised Statutes 17:391.2
• School personnel: means the teachers, librarians, counselors, administrators, and other professional personnel of the public schools of the state including members of the professional staff of the state Department of Education. See Louisiana Revised Statutes 17:391.2
• Secretary: means the secretary of the commission. See Louisiana Revised Statutes 23:1
• 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.
• 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
• State agency: means an office, department, board, bureau, commission, council, institution, college or university, division, officer, or other person or group within the executive, judicial, or legislative branch of state government that is authorized to exercise or that exercises any of the functions of the government of the state of Louisiana. See Louisiana Revised Statutes 25:121.1
• Stock insurer: shall mean an incorporated insurer with issued and outstanding stock whose capital and surplus is owned by its stockholders. See Louisiana Revised Statutes 22:550.2
• Subpoena: A command to a witness to appear and give testimony.
• Subpoena duces tecum: A command to a witness to produce documents.
• Summons: Another word for subpoena used by the criminal justice system.
• Supporting information: means the experience and judgment of the filer and the experience or data of other insurers or organizations relied upon by the filer, the interpretation of any statistical data relied upon by the filer, descriptions of methods used in making the rates, and other similar information relied upon by the filer. See Louisiana Revised Statutes 22:1452
• to renew: means the issuance and delivery by an insurer of a policy replacing at the end of the policy period a policy previously issued and delivered by the same insurer, or the issuance and delivery of a certificate or notice extending the term of a policy beyond its policy period or term. See Louisiana Revised Statutes 22:1266
• Trust account: A general term that covers all types of accounts in a trust department, such as estates, guardianships, and agencies. ^{Source: OCC}
• Unfairly discriminatory: means not capable of being actuarially justified or based on race, color, creed, or national origin. See Louisiana Revised Statutes 22:1452
• Uphold: The decision of an appellate court not to reverse a lower court decision.
• Venue: The geographical location in which a case is tried.
• Wages: means average weekly wage at the time of the accident. See Louisiana Revised Statutes 23:1021
• Writ: A formal written command, issued from the court, requiring the performance of a specific act.