Terms Used In Louisiana Revised Statutes > Title 22 > Chapter 10 - Guaranty Funds

• Account: means any of the four accounts created by Louisiana Revised Statutes 22:2084
• 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.
• Adult: means an individual who has attained the age of twenty-two years. See Louisiana Revised Statutes 9:751
• Affiliate: means a person who directly or indirectly, through one or more intermediaries, controls, is controlled by, or is under common control with another person. See Louisiana Revised Statutes 22:2055
• Agency: means and includes the boards, commissions, departments, agencies, offices, officers, and other instrumentalities, or any or all of these, within the executive branch of state government which are abolished by this Title or which are transferred and placed within departments of the state government created and established or continued by this Title or transferred to and placed within the office of the governor as provided by this Title. See Louisiana Revised Statutes 36:3
• Appellate: About appeals; an appellate court has the power to review the judgement of another lower court or tribunal.
• Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
• Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
• Association: means the Louisiana Insurance Guaranty Association created under Louisiana Revised Statutes 22:2055
• Association: means the Louisiana Life and Health Insurance Guaranty Association created by Louisiana Revised Statutes 22:2084
• Association similar to the association: means any guaranty association, security fund or other insolvency mechanism that affords protection similar to that of the association. See Louisiana Revised Statutes 22:2055
• 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.
• Authorized emergency vehicle: means a vehicle of a fire department, a vehicle of the department's weights and standards police force, a police vehicle, a private vehicle, a privately owned vehicle belonging to members of an organized volunteer fire department or fire district when so designated or authorized by the fire chief of that fire department or fire district, an industrial-owned vehicle assigned to members of a fire department or fire district when so designated or authorized by the fire chief of that fire department or fire district, a vehicle parked or stopped by elevator repair or construction personnel while responding to an elevator emergency, such as ambulances and emergency medical response vehicles certified by the Louisiana Department of Health that are operated by certified ambulance services, and emergency vehicles of municipal departments or public service corporations as are designated or authorized by the secretary of the Department of Transportation and Development or by the chief of police of any incorporated municipality. See Louisiana Revised Statutes 32:1
• Autocycle: means a three-wheeled motorcycle on which the driver and all passengers ride in either a partially or completely enclosed seating area or in a side-by-side seating area that is equipped with a rollbar or roll cage, safety belts for all occupants, and is designed to be controlled with a steering mechanism and pedals. See Louisiana Revised Statutes 32:1
• Bail: Security given for the release of a criminal defendant or witness from legal custody (usually in the form of money) to secure his/her appearance on the day and time appointed.
• Bankruptcy: Refers to statutes and judicial proceedings involving persons or businesses that cannot pay their debts and seek the assistance of the court in getting a fresh start. Under the protection of the bankruptcy court, debtors may discharge their debts, perhaps by paying a portion of each debt. Bankruptcy judges preside over these proceedings.
• 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}
• Bicycle: means every device upon which any person or persons, if the design accommodates passengers, may ride, propelled exclusively by human power, or an electric-assisted bicycle as defined in this Section, having a saddle or seat for each rider, and having two tandem wheels, either of which is sixteen inches or more in diameter, or three wheels, any one of which is twenty inches or more in diameter. See Louisiana Revised Statutes 32:1
• Board: means the board of commissioners of the Acadiana Regional Juvenile Justice District. See Louisiana Revised Statutes 15:1109
• 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
• Chief judge: The judge who has primary responsibility for the administration of a court but also decides cases; chief judges are determined by seniority.
• Commission: means the Acadiana Regional Juvenile Justice District Commission. See Louisiana Revised Statutes 15:1109
• Commissioner: means the secretary of the Department of Public Safety and Corrections. See Louisiana Revised Statutes 32:1
• Commissioner: means the commissioner of insurance of this state. See Louisiana Revised Statutes 22:2055
• Commissioner: means the commissioner of insurance. See Louisiana Revised Statutes 22:2084
• 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.
• Contractual obligation: means any obligation under a policy or contract or certificate under a group policy or contract, or portion thereof, for which coverage is provided by Louisiana Revised Statutes 22:2084
• Control: means the possession, direct or indirect, of the power to direct or cause the direction of the management and policies of a person, whether through the ownership of voting securities, by contract other than a commercial contract for goods or non-management services, or otherwise, unless the power is the result of an official position with or corporate office held by the person. See Louisiana Revised Statutes 22:2055
• Conviction: A judgement of guilt against a criminal defendant.
• Court: means a court of competent jurisdiction in the parish of the domicile of the minor. See Louisiana Revised Statutes 9:751
• Covered claim: means the following:

              (a) An unpaid claim, including one for unearned premiums that arises out of and is within the coverage and not in excess of the applicable limits of an insurance policy to which this Part applies issued by an insurer, if such insurer becomes an insolvent insurer after September 1, 1970, and the policy was issued by such insurer and any of the following:

              (i) The claimant or insured is a resident of this state at the time of the insured event, provided that, for entities, the residence of a claimant or insured is the state in which its principal place of business is located at the time of the insured event. See Louisiana Revised Statutes 22:2055

• covered policy: means any policy or contract within the scope of this Part as set forth in Louisiana Revised Statutes 22:2084
• 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
• Custodian: means a person so designated under Louisiana Revised Statutes 9:751
• Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
• Defendant: In a civil suit, the person complained against; in a criminal case, the person accused of the crime.
• Department: means the Department of Transportation and Development. See Louisiana Revised Statutes 32:1
• Deputy secretary: means the officer authorized to be appointed by the secretary to serve as his principal administrative assistant. See Louisiana Revised Statutes 36:3
• Discovery: Lawyers' examination, before trial, of facts and documents in possession of the opponents to help the lawyers prepare for trial.
• District: means the Acadiana Regional Juvenile Justice District. See Louisiana Revised Statutes 15:1109
• Divided highway: means any highway divided into roadways by a median, physical barrier, or clearly indicated dividing section so constructed as to impede vehicular traffic. See Louisiana Revised Statutes 32:1
• Docket: A log containing brief entries of court proceedings.
• Driver: means every person who drives or is in actual physical control of a vehicle. See Louisiana Revised Statutes 32:1
• Enrolled bill: The final copy of a bill or joint resolution which has passed both chambers in identical form. It is printed on parchment paper, signed by appropriate officials, and submitted to the President/Governor for signature.
• 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.
• Ex officio: Literally, by virtue of one's office.
• Executive session: A portion of the Senate's daily session in which it considers executive business.
• 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.
• Farm tractor: means every motor vehicle designed and used primarily as a farm implement, for drawing plows, mowing machines, and other implements of husbandry. See Louisiana Revised Statutes 32:1
• Fiduciary: A trustee, executor, or administrator.
• 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
• Fraud: Intentional deception resulting in injury to another.
• Germane: On the subject of the pending bill or other business; a strict standard of relevance.
• Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
• Gross weight: means the weight of a vehicle and/or combination of vehicles without load on all axles including the steering axle plus the weight of any load thereon. See Louisiana Revised Statutes 32:1
• Guarantor: A party who agrees to be responsible for the payment of another party's debts should that party default. ^{Source: OCC}
• Guardian: A person legally empowered and charged with the duty of taking care of and managing the property of another person who because of age, intellect, or health, is incapable of managing his (her) own affairs.
• Habeas corpus: A writ that is usually used to bring a prisoner before the court to determine the legality of his imprisonment. It may also be used to bring a person in custody before the court to give testimony, or to be prosecuted.
• Height: means the total vertical dimension of any vehicle above the ground surface including any load and load-holding devices thereon. See Louisiana Revised Statutes 32:1
• Highway: means the entire width between the boundary lines of every way or place of whatever nature publicly maintained and open to the use of the public for the purpose of vehicular travel, including bridges, causeways, tunnels and ferries; synonymous with the word "street". See Louisiana Revised Statutes 32:1
• Impaired insurer: means a member insurer which is not an insolvent insurer and is placed under an order of rehabilitation or conservation by a court of competent jurisdiction. See Louisiana Revised Statutes 22:2084
• Insolvent insurer: means an insurer who meets both of the following criteria:

              (a) Is licensed and authorized to transact insurance in this state, either at the time the policy was issued or when the insured event occurred. See Louisiana Revised Statutes 22:2055

• Insolvent insurer: means a member insurer which is placed under an order by a court of competent jurisdiction with a finding of insolvency. See Louisiana Revised Statutes 22:2084
• Instrument: means any instrument, whether or not negotiable, which evidences the indebtedness of one or more persons. See Louisiana Revised Statutes 9:5321
• Insurance policy: means an insurance contract as defined in Louisiana Revised Statutes 22:2055
• Insured: means any named insured, any additional insured, any vendor, lessor, or any other party identified as an insured under the policy. See Louisiana Revised Statutes 22:2055
• 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}
• Intersection: means : The area embraced within the prolongation or connection of the lateral curb lines, or, if none, then the lateral boundary lines of the roadways of two highways which join one another at, or approximately at, right angles, or the area within which vehicles traveling upon different highways joining at any other angle may come in conflict. See Louisiana Revised Statutes 32:1
• Interstate highway: means a fully controlled access highway which is a part of the National System of Interstate and Defense Highways. See Louisiana Revised Statutes 32:1
• 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.
• Legal representative: means an individual's personal representative or tutor. See Louisiana Revised Statutes 9:751
• Legislative session: That part of a chamber's daily session in which it considers legislative business (bills, resolutions, and actions related thereto).
• Length: means the total longitudinal dimension of a single vehicle, a trailer, or a semi-trailer. See Louisiana Revised Statutes 32:1
• Lien: A claim against real or personal property in satisfaction of a debt.
• Lineal descendant: Direct descendant of the same ancestors.
• Litigation: A case, controversy, or lawsuit. Participants (plaintiffs and defendants) in lawsuits are called litigants.
• Load: means a weight or quantity of anything resting upon something else regarded as its support. See Louisiana Revised Statutes 32:1
• Member insurer: means any person who meets both of the following criteria:

              (i) Is licensed and authorized to transact insurance in this state. See Louisiana Revised Statutes 22:2055

• Member insurer: means any insurer or health maintenance organization licensed or which holds a certificate of authority to transact in this state any kind of insurance or health maintenance organization business for which coverage is provided by Louisiana Revised Statutes 22:2084
• Military surplus motor vehicle: means a wheeled, multipurpose or tactical motor vehicle manufactured for, and sold directly to, the Armed Forces of the United States in conformity with contractual specifications and subsequently authorized for sale to civilians. See Louisiana Revised Statutes 32:1
• Minor: means an individual who has not attained the age of twenty-two years. See Louisiana Revised Statutes 9:751
• 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.
• Motor vehicle: means every vehicle which is self-propelled, and every vehicle which is propelled by electric power obtained from overhead trolley wires, but not operated upon rails, but excluding a motorized bicycle and an electric-assisted bicycle. See Louisiana Revised Statutes 32:1
• Motorcycle: means every motor vehicle having a seat or saddle for the use of the rider and designed to travel on not more than three wheels in contact with the ground, but excluding a tractor, a motorized bicycle, and an electric-assisted bicycle. See Louisiana Revised Statutes 32:1
• Municipality: means an incorporated village, town, or city created under the authority of the constitution or laws of this state. See Louisiana Revised Statutes 32:1
• Net direct written premiums: means direct gross premiums written in this state on insurance policies to which this Part applies, including policy and membership fees, less return premiums thereon, premiums on policies not taken, and dividends paid or credited to policyholders on such direct business. See Louisiana Revised Statutes 22:2055
• Nolo contendere: No contest-has the same effect as a plea of guilty, as far as the criminal sentence is concerned, but may not be considered as an admission of guilt for any other purpose.
• Office: means each principal operational unit within a department, except the executive office of the secretary. See Louisiana Revised Statutes 36:3
• Operational: means steering, braking, accelerating, or monitoring the vehicle and roadway. See Louisiana Revised Statutes 32:1
• Operator: means every person, other than a chauffeur, who drives or is in actual physical control of a motor vehicle upon a highway or who is exercising control over or steering a vehicle being towed by a motor vehicle. See Louisiana Revised Statutes 32:1
• Oversight: Committee review of the activities of a Federal agency or program.
• Owner: means a person who holds a legal title to a vehicle or in the event a vehicle is the subject of an agreement for the conditional sale, lease, or transfer of possession thereof with the right of purchase upon the performance of the conditions stated in the agreement, with the right of immediate possession in the vendee, lessee, possessor, or in the event such similar transaction is had by means of mortgage and the mortgagor of a vehicle is entitled to possession, then the conditional vendee, lessee, possessor, or mortgagor shall be deemed the owner for the purposes of this Chapter. See Louisiana Revised Statutes 32:1
• parking: means the standing of a vehicle, whether occupied or not, otherwise than temporarily for the purpose of and while actually engaged in loading or unloading merchandise or passengers. See Louisiana Revised Statutes 32:1
• Parking area: means an area used by the public as a means of access to and egress from, and for the free parking of motor vehicles by patrons of a shopping center, business, factory, hospital, institution, or similar building or location. See Louisiana Revised Statutes 32:1
• Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
• Passenger car: means any passenger car required to be equipped with safety belts by Federal Motor Vehicle Standard No. See Louisiana Revised Statutes 32:1
• Pedestrian: means any person afoot or utilizing a mobility aid. See Louisiana Revised Statutes 32:1
• Person: means any natural or juridical person, company, insurer, association, organization, reciprocal or inter-insurance exchange, partnership, business, trust, corporation, or other entity, including governmental entities. See Louisiana Revised Statutes 22:2055
• Person: means any individual, corporation, partnership, association, or voluntary organization. See Louisiana Revised Statutes 22:2084
• 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 or a person legally authorized to perform substantially the same functions. See Louisiana Revised Statutes 9:751
• Plea: In a criminal case, the defendant's statement pleading "guilty" or "not guilty" in answer to the charges, a declaration made in open court.
• Power of attorney: A written instrument which authorizes one person to act as another's agent or attorney. The power of attorney may be for a definite, specific act, or it may be general in nature. The terms of the written power of attorney may specify when it will expire. If not, the power of attorney usually expires when the person granting it dies. ^{Source: OCC}
• Precedent: A court decision in an earlier case with facts and law similar to a dispute currently before a court. Precedent will ordinarily govern the decision of a later similar case, unless a party can show that it was wrongly decided or that it differed in some significant way.
• Premiums: means amounts received on covered policies or contracts, less considerations, deposits, dividends, and experience credits thereon. See Louisiana Revised Statutes 22:2084
• 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.
• 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 road or driveway: means every way or place in private ownership and used for vehicular travel by the owner and those having express or implied permission from the owner, but not by other persons. See Louisiana Revised Statutes 32:1
• Probable cause: A reasonable ground for belief that the offender violated a specific law.
• Quorum: The number of legislators that must be present to do business.
• Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
• Receiver: means liquidator, rehabilitator, conservator or ancillary receiver, as the context requires. See Louisiana Revised Statutes 22:2055
• Receivership court: means the court in the insolvent or impaired insurer's state having jurisdiction over the conservation, rehabilitation, or liquidation of the member insurer. See Louisiana Revised Statutes 22:2084
• 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}
• 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
• 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.
• Resident: means a person who resides in this state on the date of entry of a court order that determines a member insurer to be an impaired insurer or a court order that determines a member insurer to be an insolvent insurer and to whom a contractual obligation is owed. See Louisiana Revised Statutes 22:2084
• Roadway: means that portion of a highway improved, designed, or ordinarily used for vehicular traffic, exclusive of the berm or shoulder. See Louisiana Revised Statutes 32:1
• 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
• Safety zone: means the area or space officially set apart within a highway for the exclusive use of pedestrians and which is protected or is so marked or indicated by adequate signs as to be plainly visible at all times while set apart as a safety zone. See Louisiana Revised Statutes 32:1
• School bus: means every motor vehicle that is used to transport students to and from school or in connection with school activities, but not including a charter bus or transit bus. See Louisiana Revised Statutes 32:1
• Seat belt: means the manual restraint system installed by the manufacturer as required by Federal Motor Vehicle Standard No. See Louisiana Revised Statutes 32:1
• Secretary: means the officer appointed by the governor as the executive head and chief administrative officer of certain departments created and provided for by this Title. See Louisiana Revised Statutes 36:3
• Secretary: means the secretary of the Department of Transportation and Development or his delegated or authorized representative. See Louisiana Revised Statutes 32:1
• Self-insurer: means a person that covers its liabilities through a qualified individual or group self-insurance program created for the specific purpose of covering liabilities typically covered by insurance. See Louisiana Revised Statutes 22:2055
• Service of process: The service of writs or summonses to the appropriate party.
• Shoulder: means the portion of the highway contiguous with the roadway for accommodation of stopped vehicles, for emergency use, pedestrian use, mobility aid use, bicycle use, and for lateral support of base and surface. See Louisiana Revised Statutes 32:1
• Sidewalk: means that portion of a highway between the curb lines, or the lateral lines of a highway, and the adjacent property lines, intended for the use of pedestrians. See Louisiana Revised Statutes 32:1
• Special permit: means a written authorization to move or operate on a highway a vehicle or combination of vehicles with indivisible load of size and/or weight exceeding the limits prescribed for vehicles in regular operation. See Louisiana Revised Statutes 32:1
• standing: means the halting of a vehicle, whether occupied or not, otherwise than temporarily for the purpose of and while actually engaged in receiving or discharging passengers. See Louisiana Revised Statutes 32:1
• 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
• Stop: means , when required, the complete cessation from movement. See Louisiana Revised Statutes 32:1
• stopping: means , when prohibited, any halting, even momentarily of a vehicle, whether occupied or not, except when necessary to avoid conflict with other traffic or in compliance with the directions of a police officer, weights and standards police officer, or traffic control sign or signal. See Louisiana Revised Statutes 32:1
• Street: means the entire width between the boundary lines of every way or place of whatever nature publicly maintained and open to the use of the public for the purpose of vehicular travel, including bridges, causeways, tunnels, and ferries; synonymous with the word "highway". See Louisiana Revised Statutes 32:1
• Structured settlement annuity: means an annuity purchased in order to fund periodic payments for a plaintiff or other claimant in payment for or with respect to personal injury suffered by the plaintiff or other claimant. See Louisiana Revised Statutes 22:2084
• Traffic: means pedestrians, ridden or herded animals, vehicles, and other conveyances either singly or together while using any highway for purposes of travel. See Louisiana Revised Statutes 32:1
• Trailer: means every single vehicle without motive power designed for carrying property or passengers wholly on its own structure, drawn by a motor vehicle which carries no part of the weight and load of the trailer on its own wheels and having two or more load carrying axles. See Louisiana Revised Statutes 32:1
• Transfer: means a transaction that creates custodial property under Louisiana Revised Statutes 9:751
• Transferor: means a person who makes a transfer under this Subpart. See Louisiana Revised Statutes 9:751
• Trial: A hearing that takes place when the defendant pleads "not guilty" and witnesses are required to come to court to give evidence.
• Truck: means every motor propelled single vehicle for the conveyance of property or things for hauling purposes and having one front steering axle and one rear or load carrying axle. See Louisiana Revised Statutes 32:1
• Trust company: means a financial institution, corporation, or other legal entity authorized to exercise general trust powers. See Louisiana Revised Statutes 9:751
• Trustee: A person or institution holding and administering property in trust.
• 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
• Unallocated annuity contract: means any annuity contract or group annuity certificate which is not issued to and owned by an individual except to the extent of any annuity benefits guaranteed to an individual by an insurer under such contract or certificate. See Louisiana Revised Statutes 22:2084
• Undersecretary: means the officer designated to direct and be responsible for the functions of the office of management and finance of certain departments. See Louisiana Revised Statutes 36:3
• 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}
• Vehicle: means every device by which persons or things may be transported upon a public highway or bridge, except devices moved by human power or used exclusively upon stationary rails or tracks. See Louisiana Revised Statutes 32:1
• Verdict: The decision of a petit jury or a judge.
• Voice vote: A vote in which the Presiding Officer states the question, then asks those in favor and against to say "Yea" or "Nay," respectively, and announces the result according to his or her judgment. The names or numbers of legisators voting on each side are not recorded.
• Width: means the total outside transverse dimension of a vehicle including any load or load holding devices thereon but excluding approved safety devices and tire bulge due to load. See Louisiana Revised Statutes 32:1