Louisiana Revised Statutes 51:732 – Definitions
Terms Used In Louisiana Revised Statutes 51:732
- 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.
- Contract: A legal written agreement that becomes binding when signed.
- Eligible adult: means :
(a) A person sixty years of age or older. See Louisiana Revised Statutes 51:732
- person: includes a body of persons, whether incorporated or not. See Louisiana Revised Statutes 1:10
- 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
As used in this Part the following terms have the respective meanings, unless the context clearly indicates otherwise:
(1) “Adult protection agency” means:
(a) The office of elderly affairs in the office of the governor, for any individual sixty years of age or older in need of adult protective services.
(b) The Louisiana Department of Health for any individual between the ages of eighteen and fifty-nine in need of adult protective services.
(2) “Dealer” shall have the same meaning as provided in La. Rev. Stat. 51:702.
(3) “Eligible adult” means:
(a) A person sixty years of age or older.
(b) A person subject to the Adult Protective Services Act, La. Rev. Stat. 15:1501 et seq.
(4) “Financial exploitation” means:
(a) The wrongful or unauthorized taking, withholding, appropriation, or use of money, assets, or property of an eligible adult.
(b) Any act or omission taken by a person, including through the use of a power of attorney, act of procuration, contract of mandate, or letters of curatorship, guardianship, or conservatorship of an eligible adult, to do any of the following:
(i) Obtain control, through deception, intimidation, or undue influence over an eligible adult’s assets or property to deprive the eligible adult of the ownership, use, benefit, or possession of the eligible adult’s money, assets, or property.
(ii) Convert money, assets, or property of the eligible adult to deprive such eligible adult of the ownership, use, benefit, or possession of the eligible adult’s money, assets, or property.
(5) “Investment advisor” shall have the same meaning as provided in La. Rev. Stat. 51:702.
(6) “Investment advisor representative” shall have the same meaning as provided in La. Rev. Stat. 51:702.
(7) “Qualified individual” means any salesman, investment advisor representative, or person who serves in a supervisory, compliance, or other legal capacity for a dealer or investment advisor.
(8) “Salesman” shall have the same meaning as set forth in La. Rev. Stat. 51:702.
Acts 2016, No. 580, §1, eff. Jan. 1, 2017.