Terms Used In Louisiana Revised Statutes > Title 33 > Chapter 12-B - Chennault International Airport Authority

• Bail: Security given for the release of a criminal defendant or witness from legal custody (usually in the form of money) to secure his/her appearance on the day and time appointed.
• Business entity: shall mean a corporation, association, partnership, limited liability company, limited liability partnership, or other legal entity. See Louisiana Revised Statutes 22:1542
• Child: means a person who has not reached age eighteen or otherwise been legally emancipated. See Louisiana Revised Statutes 17:407.33
• Commission: shall mean a fee paid to an insurance producer as a percentage of the premium generated by a sold insurance policy, or direct compensation or reward of a producer when the same is calculated as a flat fee or as a percentage of the premium or on the profit to the principal. See Louisiana Revised Statutes 22:1542
• Department: means the state Department of Education. See Louisiana Revised Statutes 17:407.33
• Early learning center: means any child day care center, Early Head Start Center, Head Start Center, or stand-alone prekindergarten program not attached to a school. See Louisiana Revised Statutes 17:407.33
• Escrow: Money given to a third party to be held for payment until certain conditions are met.
• Executor: A male person named in a will to carry out the decedent
• Fair market value: The price at which an asset would change hands in a transaction between a willing, informed buyer and a willing, informed seller.
• Fiduciary: A trustee, executor, or administrator.
• Insurance: shall mean any of the lines of authority as specified in Louisiana Revised Statutes 22:1542
• Joint resolution: A legislative measure which requires the approval of both chambers.
• License: shall mean a document issued by this state's commissioner of insurance authorizing a person to act as an insurance producer for the lines of authority specified in the document. See Louisiana Revised Statutes 22:1542
• Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
• Nolo contendere: No contest-has the same effect as a plea of guilty, as far as the criminal sentence is concerned, but may not be considered as an admission of guilt for any other purpose.
• Person: shall mean any natural or artificial legal entity including but not limited to individuals, partnerships, associations, trusts, or corporations. See Louisiana Revised Statutes 22:1542
• Plea: In a criminal case, the defendant's statement pleading "guilty" or "not guilty" in answer to the charges, a declaration made in open court.
• 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}
• Probation: A sentencing alternative to imprisonment in which the court releases convicted defendants under supervision as long as certain conditions are observed.
• producer: shall mean a person required to be licensed under the laws of this state to sell, solicit, or negotiate insurance, and includes all persons or business entities otherwise referred to in this Code as "insurance agent" or "agent" or "insurance broker" or "broker" or "insurance solicitor" or "solicitor" or "surplus lines broker". See Louisiana Revised Statutes 22:1542
• relative: means a natural or adopted child or grandchild of the caregiver or a child in the legal custody of the caregiver. See Louisiana Revised Statutes 17:407.33
• Solicit: shall mean to attempt to sell insurance or to ask or urge a person to apply for a particular kind of insurance from a particular insurer. See Louisiana Revised Statutes 22:1542
• Statute: A law passed by a legislature.
• Travel insurance: shall mean that line of insurance defined in Louisiana Revised Statutes 22:1542
• Venue: The geographical location in which a case is tried.