Louisiana Revised Statutes > Title 40 > Chapter 6 > Part X – The Louisiana Public Facilities Authority
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| § 40:1487 | A.(1) A public trust and public corporation organized and existing by, under, and pursuant to the provisions of the Louisiana public trust law whose beneficiary is the state of Louis |
Terms Used In Louisiana Revised Statutes > Title 40 > Chapter 6 > Part X - The Louisiana Public Facilities Authority
- 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
- Contract: A legal written agreement that becomes binding when signed.
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Lien: A claim against real or personal property in satisfaction of a debt.
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
- 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.