Terms Used In Louisiana Revised Statutes > Title 12 > Chapter 22 > Part VI - Assignment of Membership Interests

• 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
• Articles of organization: means documents filed under Louisiana Revised Statutes 12:1301
• Board: means the State Board of Elementary and Secondary Education. See Louisiana Revised Statutes 17:4041
• Contract: A legal written agreement that becomes binding when signed.
• Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
• District: means any city, parish, or other local public school district, the Recovery School District, and the Special School District. See Louisiana Revised Statutes 17:4041
• Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
• Executor: A male person named in a will to carry out the decedent
• Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
• Governing authority: means the governing authority of any public elementary or secondary school. See Louisiana Revised Statutes 17:4041
• 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.
• interest: means a member's rights in a limited liability company, collectively, including the member's share of the profits and losses of the limited liability company, the right to receive distributions of the limited liability company's assets, and any right to vote or participate in management. See Louisiana Revised Statutes 12:1301
• Legatee: A beneficiary of a decedent
• Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
• Lien: A claim against real or personal property in satisfaction of a debt.
• Low-performing school: means an academically unacceptable school as determined by the board. See Louisiana Revised Statutes 17:4041
• Member: means a person with a membership interest in a limited liability company with the rights and obligations specified under this Chapter. See Louisiana Revised Statutes 12:1301
• Operating agreement: means any agreement, written or oral, of the members as to, or in the case of a limited liability company having a single member, any written agreement between the member and the company memorializing the affairs of a limited liability company and the conduct of its business. See Louisiana Revised Statutes 12:1301
• Person: means a natural person, corporation, partnership, limited partnership, domestic or foreign limited liability company, joint venture, trust including a common law trust, business trust, statutory trust, voting trust, or any other form of trust, estate, or association. See Louisiana Revised Statutes 12:1301
• Plaintiff: The person who files the complaint in a civil lawsuit.
• Quorum: The number of legislators that must be present to do business.
• Special Schools: includes all Louisiana special schools and all schools or educational programs in Special School Programs operated by the Special School District. See Louisiana Revised Statutes 17:43
• teaching staff: shall include any social worker, school counselor, school nurse, audiologist, educational diagnostician, speech-language pathologist, or school psychologist employed by a special school who holds the appropriate valid professional ancillary certificate issued by the state Department of Education and who has served in the Special School District for the number of years required for probationary teachers to attain tenure. See Louisiana Revised Statutes 17:46
• Waiver: means a waiver granted pursuant to and in accordance with this Chapter which exempts the recipient district from any provision of this Title or from any rule, regulation, or policy of the board that is applicable to public schools and to public school officers and employees. See Louisiana Revised Statutes 17:4041