Terms Used In Louisiana Revised Statutes > Title 12 > Chapter 3 - Foreign Corporation Law

• Adult: means an individual who has attained the age of eighteen years. See Louisiana Revised Statutes 9:2260.1
• 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.
• Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year.
• Beneficiary: means an individual for whom property has been transferred to or held under a declaration of trust by a custodial trustee for the individual's use and benefit under this Chapter. See Louisiana Revised Statutes 9:2260.1
• 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}
• Chief judge: The judge who has primary responsibility for the administration of a court but also decides cases; chief judges are determined by seniority.
• Court: means a court of competent jurisdiction. See Louisiana Revised Statutes 9:2260.1
• Curator: means a person appointed or qualified by a court to manage the estate of an individual or a person legally authorized to perform substantially the same functions. See Louisiana Revised Statutes 9:2260.1
• Custodial trust property: means an interest in property transferred to or held under a declaration of trust by a custodial trustee under this Chapter and the income from and proceeds of that interest. See Louisiana Revised Statutes 9:2260.1
• Custodial trustee: means a person designated as trustee of a custodial trust under this Chapter or a substitute or successor to the person designated. See Louisiana Revised Statutes 9:2260.1
• Decedent: A deceased person.
• Donee: The recipient of a gift.
• Executor: A male person named in a will to carry out the decedent
• Fiduciary: A trustee, executor, or administrator.
• Foreclosure: A legal process in which property that is collateral or security for a loan may be sold to help repay the loan when the loan is in default. ^{Source: OCC}
• Fraud: Intentional deception resulting in injury to another.
• Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
• 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.
• Incapacitated: means lacking the ability to manage property and business affairs effectively by reason of mental illness, mental deficiency, physical illness or disability, chronic use of drugs, chronic intoxication, confinement, detention by a foreign power, disappearance, minority, or other disabling cause. See Louisiana Revised Statutes 9:2260.1
• Intestate: Dying without leaving a will.
• Legal representative: means a personal representative, tutor, or curator. See Louisiana Revised Statutes 9:2260.1
• Person: means an individual, corporation, business trust, estate, trust, partnership, joint venture, association, or any other legal or commercial entity. See Louisiana Revised Statutes 9:2260.1
• Personal property: All property that is not real property.
• Personal representative: means an executor, administrator, or representative of a decedent's estate, a person legally authorized to perform substantially the same functions, or a successor to any of them. See Louisiana Revised Statutes 9:2260.1
• 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}
• Right of survivorship: The ownership rights that result in the acquisition of title to property by reason of having survived other co-owners.
• Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
• State: means a state, territory, or possession of the United States, the District of Columbia, or the Commonwealth of Puerto Rico. See Louisiana Revised Statutes 9:2260.1
• 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.
• Transferor: means a person who creates a custodial trust by transfer or declaration. See Louisiana Revised Statutes 9:2260.1
• Trust company: means a financial institution, corporation, or other legal entity, authorized to exercise general trust powers. See Louisiana Revised Statutes 9:2260.1
• 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. See Louisiana Revised Statutes 9:2260.1