Terms Used In Louisiana Revised Statutes > Title 34 > Chapter 27 - Grant Parish Port Commission

• Assistant secretary: means the assistant secretary of the office of conservation within the Department of Energy and Natural Resources or his authorized representatives. See Louisiana Revised Statutes 30:82
• Bonds: means revenue bonds, notes, certificates, or other evidences of indebtedness issued by an issuer pursuant to Louisiana Revised Statutes 30:82
• 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.
• Commission: means the Oilfield Site Restoration Commission. See Louisiana Revised Statutes 30:82
• Commissioner: means the Commissioner of Conservation of the State of Louisiana. See Louisiana Revised Statutes 30:3
• Department: means the Department of Energy and Natural Resources. See Louisiana Revised Statutes 30:82
• Ex officio: Literally, by virtue of one's office.
• 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.
• Fund: means the Oilfield Site Restoration Fund. See Louisiana Revised Statutes 30:82
• Gas: means all natural gas, including casinghead gas, and all other hydrocarbons not defined as oil in Paragraph (7) of this Section. See Louisiana Revised Statutes 30:3
• Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
• Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
• Lien: A claim against real or personal property in satisfaction of a debt.
• Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
• Oil: means crude petroleum oil, and other hydrocarbons, regardless of gravity, which are produced at the well head in liquid form by ordinary production methods. See Louisiana Revised Statutes 30:3
• Orphaned oilfield site: means an oilfield site which has no continued useful purpose for the exploration, production, or development of oil or gas and which has been declared to be an orphaned oilfield site by the assistant secretary under Louisiana Revised Statutes 30:82
• Owner: means the person, including operators and producers acting on behalf of the person, who has or had the right to drill into and to produce from a pool and to appropriate the production either for himself or for others. See Louisiana Revised Statutes 30:3
• Person: means any natural person, corporation, association, partnership, receiver, tutor, curator, executor, administrator, fiduciary, or representative of any kind. See Louisiana Revised Statutes 30:3
• 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.
• Responsible party: means the operator of record according to the office of conservation records, who last operated the property on which the oilfield site is located at the time the site is about to be abandoned, ceases operation, or becomes an unusable oilfield site, and that operator's partners and working interest owners of that oilfield site. See Louisiana Revised Statutes 30:82
• Secretary: means the secretary of the Department of Energy and Natural Resources. See Louisiana Revised Statutes 30:82
• Site restoration: means any and all oilfield site restoration activities required of a responsible party of an oil or gas property by regulations adopted by the office of conservation pursuant to this Subtitle, including without limitation plugging of oil and gas wells, pit closure, site remediation, and removal of oilfield equipment. See Louisiana Revised Statutes 30:82
• Trust account: A general term that covers all types of accounts in a trust department, such as estates, guardianships, and agencies. ^{Source: OCC}
• Unusable oilfield site: means an oilfield site which has no continued useful purpose for the exploration, production, or development of oil or gas and for which a responsible party can be located. See Louisiana Revised Statutes 30:82