Terms Used In Louisiana Revised Statutes > Title 18 > Chapter 6-A - Bond, Debt, and Tax Elections

• 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 , in relation to a person, a subsidiary of the person or an entity which owns beneficially or of record a majority of the outstanding equity interests of the person. See Louisiana Revised Statutes 12:1803
• Allegation: something that someone says happened.
• Appellate: About appeals; an appellate court has the power to review the judgement of another lower court or tribunal.
• Articles of organization: means documents filed under Louisiana Revised Statutes 12:1301
• 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}
• Benefit officer: means the individual designated as the benefit officer of a benefit corporation pursuant to Louisiana Revised Statutes 12:1803
• Business: means any trade, occupation, profession, or other commercial activity, including but not limited to professions licensed by a state or other governmental agency whether or not engaged in for profit. See Louisiana Revised Statutes 12:1301
• Clerk of court: An officer appointed by the court to work with the chief judge in overseeing the court's administration, especially to assist in managing the flow of cases through the court and to maintain court records.
• Common law: The legal system that originated in England and is now in use in the United States. It is based on judicial decisions rather than legislative action.
• Constituent entity: means each limited liability company, partnership, partnership in commendam, limited partnership, or corporation which is party to an agreement of merger or consolidation pursuant to Louisiana Revised Statutes 12:1301
• Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
• Defendant: In a civil suit, the person complained against; in a criminal case, the person accused of the crime.
• Dismissal: The dropping of a case by the judge without further consideration or hearing. ^Source:
• domestic limited liability company: means an entity that is an unincorporated association having one or more members that is organized and existing under this Chapter. See Louisiana Revised Statutes 12:1301
• 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.
• Executive session: A portion of the Senate's daily session in which it considers executive business.
• 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.
• Foreign limited liability company: means a limited liability company formed under the laws of any state other than this state. See Louisiana Revised Statutes 12:1301
• Foreign limited partnership: means a limited partnership formed under the laws of any state other than this state or under the laws of any foreign country. See Louisiana Revised Statutes 12:1301
• Fraud: Intentional deception resulting in injury to another.
• General public benefit: means a material positive impact on society and the environment, taken as a whole, assessed against a third-party standard, from the business and operations of a benefit corporation. See Louisiana Revised Statutes 12:1803
• 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
• Interrogatories: Written questions asked by one party of an opposing party, who must answer them in writing under oath; a discovery device in a lawsuit.
• Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). ^{Source: OCC}
• Legacy: A gift of property made by will.
• Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
• managers: means a person or persons designated by the members of a limited liability company to manage the limited liability company as provided in its articles of organization. See Louisiana Revised Statutes 12:1301
• Material relationship: means the relationship between a person and a benefit corporation or any of its subsidiaries if any of the following apply:

  (a)  The person is, or has been within the last three years, an employee, other than a benefit officer, of the benefit corporation, or an affiliate of the benefit corporation. See Louisiana Revised Statutes 12:1803

• 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
• Minimum vote: means :

  (a)  In the case of a business corporation, the approval by holders of two-thirds of the shares present and voting of each class or series and any other approval or vote required under the Business Corporation Law or the articles. See Louisiana Revised Statutes 12:1803

• New entity: means the entity into which constituent entities consolidate, as identified in the agreement or certificate of consolidation provided for in Louisiana Revised Statutes 12:1301
• Oath: A promise to tell the truth.
• 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
• Political subdivision: means a parish, municipality, and any other unit of local government, including a school board and a special district, authorized by law to perform governmental functions. See Louisiana Revised Statutes 18:581
• Precedent: A court decision in an earlier case with facts and law similar to a dispute currently before a court. Precedent will ordinarily govern the decision of a later similar case, unless a party can show that it was wrongly decided or that it differed in some significant way.
• Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.
• Service of process: The service of writs or summonses to the appropriate party.
• 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.
• Specific public benefit: means any of the following:

  (a)  Serving low-income or underserved individuals or communities. See Louisiana Revised Statutes 12:1803

• 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 12:1301
• Statute: A law passed by a legislature.
• Subsidiary: means , in relation to a person, an entity in which the person owns beneficially or of record fifty percent or more of the outstanding equity  interests. See Louisiana Revised Statutes 12:1803
• Surviving entity: means the constituent entity surviving a merger, as identified in the agreement or certificate of merger provided for in Louisiana Revised Statutes 12:1301
• Third-party standard: means a recognized standard for defining, reporting, and assessing the performance of corporations in producing general public benefit and specific public benefits which is all of the following:

  (a)  Comprehensive in that it assesses the effect of the corporation and its operations in producing general public benefit and any specific public benefit specified in the articles. See Louisiana Revised Statutes 12:1803

• Trustee: A person or institution holding and administering property in trust.
• Venue: The geographical location in which a case is tried.