Terms Used In Louisiana Revised Statutes > Title 12 > Chapter 1 > Part 10 - Amendment of Articles of Incorporation and Bylaws

• Acting in concert: means persons who knowingly act together with a common goal of jointly acquiring control of a licensee whether or not pursuant to an express agreement. See Louisiana Revised Statutes 6:1382
• 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.
• Affiliate: means any person who controls, is controlled by, or is under common control with another person. See Louisiana Revised Statutes 6:1382
• Applicant: means a person who applies for a license pursuant to this Chapter. See Louisiana Revised Statutes 6:1382
• Association: means a savings association, thrift institution, homestead, building and loan association, savings and loan association, or society, including both capital stock and mutual associations. See Louisiana Revised Statutes 6:703
• 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.
• 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.
• Blockchain: means any ledger of exchange, sale, or transfer of virtual currency which is accessible by computers or operators that are part of any virtual currency network. See Louisiana Revised Statutes 6:1382
• Board: shall mean the Retirement Board of the City of Bogalusa Retirement System. See Louisiana Revised Statutes 11:3033
• Bona fide trade or professional association: means an active trade or professional association that is chartered and domiciled in Louisiana, or a successor organization thereof, that meets all of the following requirements:

              (a) Promotes Louisiana timber or agriculture production. See Louisiana Revised Statutes 3:4351.1

• Commissioner: means the commissioner of financial institutions, of the state of Louisiana, in his capacity as supervisor of associations. See Louisiana Revised Statutes 6:703
• Commissioner: means the commissioner of the office of financial institutions. See Louisiana Revised Statutes 6:1382
• Control: when used in the context described, means the following:

              (a) When used in reference to a transaction or relationship involving virtual currency, power to execute unilaterally or prevent indefinitely a virtual currency transaction. See Louisiana Revised Statutes 6:1382

• Conviction: A judgement of guilt against a criminal defendant.
• Covered agency: means any of the following:

              (a) Any federal, state, or local law enforcement agency. See Louisiana Revised Statutes 6:1372

• Covered financial institution: means any bank, credit union, savings bank, savings and loan association, or trust company operating in Louisiana. See Louisiana Revised Statutes 6:1372
• Credit report: A detailed report of an individual's credit history prepared by a credit bureau and used by a lender in determining a loan applicant's creditworthiness. ^{Source: OCC}
• Deed: The legal instrument used to transfer title in real property from one person to another.
• Department: means the Department of Insurance. See Louisiana Revised Statutes 3:4351.1
• Donor: The person who makes a gift.
• Effective date: shall mean July 1, 1953. See Louisiana Revised Statutes 11:3033
• Eligible adult: means any of the following:

              (a) Any person sixty years of age or older. See Louisiana Revised Statutes 6:1372

• Employee: shall mean any appointive officer or employee of the city now or hereafter employed by the city, whose services are compensated by the city in whole or in part, who is not covered by any existing pension fund maintained by the city. See Louisiana Revised Statutes 11:3033
• 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.
• Escrow: Money given to a third party to be held for payment until certain conditions are met.
• Exchange: when used as a verb, means to assume control of virtual currency from, or on behalf of, a resident, at least momentarily, to sell, trade, or convert either of the following:

              (a) Virtual currency for legal tender, bank credit, or one or more forms of virtual currency. See Louisiana Revised Statutes 6:1382

• Financial exploitation: means any of the following:

              (a) The wrongful or unauthorized taking, withholding, appropriation, or use of money, assets, beneficial ownership interest, or property of an eligible adult. See Louisiana Revised Statutes 6:1372

• Fund: means the self-insurance fund established pursuant to this Part to provide automobile coverage for timber transportation vehicles, agriculture transportation vehicles, or a combination of both types of vehicles and shall be known as the Louisiana Agriculture Transportation Group Self-Insured Fund. See Louisiana Revised Statutes 3:4351.1
• Insolvency: means the condition existing when the fund's liabilities are greater than the fund's assets as determined in accordance with generally accepted accounting principles as delineated in the fund's financial statement audited by an independent certified public accountant and calculated before a member distribution is payable or before a dividend is declared. See Louisiana Revised Statutes 3:4351.1
• Insolvent: means any of the following:

              (a) Having generally ceased to pay debts in the ordinary course of business other than as a result of a bona fide dispute. See Louisiana Revised Statutes 6:1382

• Legal tender: coins, dollar bills, or other currency issued by a government as official money. ^{Source: U.S. Mint}
• Legal tender: means a medium of exchange or unit of value, including the coin or paper money of the United States, issued by the United States or by another government if the issuance by another government is not virtual currency. See Louisiana Revised Statutes 6:1382
• Licensee: means a person licensed pursuant to this Chapter. See Louisiana Revised Statutes 6:1382
• Litigation: A case, controversy, or lawsuit. Participants (plaintiffs and defendants) in lawsuits are called litigants.
• Member: shall mean any employee included in the membership of the system. See Louisiana Revised Statutes 11:3033
• Member: means a person or entity holding a savings or demand account of or shares of a mutual association, and may include a person borrowing from or assuming or obligated upon a loan or interest therein held by such association if such is authorized by the charter or the bylaws of the association. See Louisiana Revised Statutes 6:703
• Mining: means the use of any machine or device to solve any series of complex mathematical equations, problems, or puzzles in binary or nonbinary sequences to add a block to any virtual currency network blockchain which is used to do any of the following:

              (a) Validate sales, exchanges, transfers, or ownership of virtual currency. See Louisiana Revised Statutes 6:1382

• Minting: means the use of any machine or device to authenticate data, add any block, or record any information or data on any blockchain by either of the following:

              (a) Through any protocol. See Louisiana Revised Statutes 6:1382

• Mortgagor: The person who pledges property to a creditor as collateral for a loan and who receives the money.
• NMLS: means the multistate system developed by the Conference of State Bank Supervisors and the American Association of Residential Mortgage Regulators and owned and operated by the State Regulatory Registry LLC, or any successor or affiliated entity, for the licensing and registration of persons in financial services industries or any other similar online multistate database. See Louisiana Revised Statutes 6:1382
• Office: means the office of financial institutions. See Louisiana Revised Statutes 6:1382
• Person: means an individual, general partnership, limited partnership, limited liability company, corporation, trust, association, joint stock corporation, or other legal entity, or any individual or group of individuals, however organized. See Louisiana Revised Statutes 6:1382
• Regulated financial institution: means a federally insured depository institution and its wholly owned subsidiaries chartered pursuant to the laws of this state, another state, or the United States, a Louisiana state-chartered trust company, a trust company chartered by another state, or a federally chartered trust company. See Louisiana Revised Statutes 6:1382
• Resident: means any of the following:

              (i) A person who is domiciled in this state. See Louisiana Revised Statutes 6:1382

• Responsible individual: means any individual who is ultimately responsible for establishing or directing policies and procedures of the licensee, including but not limited to an executive officer, manager, director, or trustee. See Louisiana Revised Statutes 6:1382
• State: means a state of the United States, the District of Columbia, Puerto Rico, the United States Virgin Islands, or any territory or insular possession subject to the jurisdiction of the United States. See Louisiana Revised Statutes 6:1382
• Stock: means capital stock of a capital stock association. See Louisiana Revised Statutes 6:703
• Stockholder: means the owner of one or more shares of any class of capital stock of a capital stock association. See Louisiana Revised Statutes 6:703
• store of value: means to maintain control of virtual currency on behalf of a resident by a person other than the resident. See Louisiana Revised Statutes 6:1382
• Subpoena: A command to a witness to appear and give testimony.
• System: shall mean the City of Bogalusa Retirement System. See Louisiana Revised Statutes 11:3033
• Tangible net worth: means all business assets minus liabilities and intangible assets, including goodwill and other intangible assets. See Louisiana Revised Statutes 6:1382
• Thrift institution: means an association, a homestead association,society or company, a savings and loan association, a building and loan association, a savings association, a foreign savings association, a federal savings association, a federal savings and loan association, a federal savings bank, or a supervised thrift and residential financing institution of a substantially similar nature. See Louisiana Revised Statutes 6:703
• Transfer: means to assume control of virtual currency from, or on behalf of, a resident and do any of the following:

              (a) Credit the virtual currency to the account of another person. See Louisiana Revised Statutes 6:1382

• Virtual currency: means a digital representation of value that is used as a medium of exchange, unit of account, or store of value, and that is not legal tender, whether or not denominated in legal tender. See Louisiana Revised Statutes 6:1382
• Virtual currency administration: means issuing virtual currency with the authority to redeem the currency for legal tender, bank credit, or other virtual currency. See Louisiana Revised Statutes 6:1382
• Virtual currency business activity: means any of the following:

              (a) Exchanging, transferring, or storing virtual currency or engaging in virtual currency administration, whether directly or through an agreement with a virtual currency control services vendor. See Louisiana Revised Statutes 6:1382

• Virtual currency control services vendor: means a person that has control of virtual currency solely under an agreement with a person that, on behalf of another person, assumes control of virtual currency. See Louisiana Revised Statutes 6:1382
• Virtual currency network: means any computer or operator having access to a ledger of exchange, sale, or transfer of one or more virtual currencies. See Louisiana Revised Statutes 6:1382