Terms Used In Louisiana Revised Statutes > Title 34 > Chapter 4 > Part IV - Motorboats and Vessels

• Affiliate: means , when used with reference to a specified person, an entity that directly or indirectly through one or more intermediaries controls or is controlled by or is under common control with the entity specified. See Louisiana Revised Statutes 45:1332
• Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
• Ancillary agreement: means any bond, insurance policy, letter of credit, reserve account, surety bond, swap arrangement, hedging arrangement, liquidity or credit support arrangement, or other financial arrangement entered into in connection with the issuance or payment of system restoration bonds. See Louisiana Revised Statutes 45:1312
• Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
• Bankruptcy: Refers to statutes and judicial proceedings involving persons or businesses that cannot pay their debts and seek the assistance of the court in getting a fresh start. Under the protection of the bankruptcy court, debtors may discharge their debts, perhaps by paying a portion of each debt. Bankruptcy judges preside over these proceedings.
• 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}
• 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 Public Service Commission or, solely with respect to an electric or gas utility furnishing electric or natural gas service within the city of New Orleans, the council of the city of New Orleans, as applicable. See Louisiana Revised Statutes 45:1312
• 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.
• Contributed proceeds: means the monies contributed by the corporation to a trust. See Louisiana Revised Statutes 45:1332
• Corporation: means the Louisiana Utilities Restoration Corporation. See Louisiana Revised Statutes 45:1312
• Counterclaim: A claim that a defendant makes against a plaintiff.
• Dependent: A person dependent for support upon another.
• Deposition: An oral statement made before an officer authorized by law to administer oaths. Such statements are often taken to examine potential witnesses, to obtain discovery, or to be used later in trial.
• Discovery: Lawyers' examination, before trial, of facts and documents in possession of the opponents to help the lawyers prepare for trial.
• Discriminatory practice in connection with employment: means an employment practice prohibited by Chapter 3-A of Title 23 of the Louisiana Revised Statutes of 1950, or by Louisiana Revised Statutes 51:2232
• Discriminatory practice in connection with public accommodations: means any direct or indirect act or practice of exclusion, distinction, restriction, segregation, limitation, refusal, denial, or any other act or practice of differentiation or preference in the treatment of a person or persons because of race, creed, color, religion, sex, age, disability, national origin, or natural, protective, or cultural hairstyle. See Louisiana Revised Statutes 51:2232
• Electric utility: means an "electric public utility" as defined in Louisiana Revised Statutes 45:1312
• Entitlement: A Federal program or provision of law that requires payments to any person or unit of government that meets the eligibility criteria established by law. Entitlements constitute a binding obligation on the part of the Federal Government, and eligible recipients have legal recourse if the obligation is not fulfilled. Social Security and veterans' compensation and pensions are examples of entitlement programs.
• Escrow: Money given to a third party to be held for payment until certain conditions are met.
• Fiduciary: A trustee, executor, or administrator.
• Financing costs: means any of the following:

              (a) Interest and acquisition, defeasance, or redemption premiums that are payable on system restoration bonds. See Louisiana Revised Statutes 45:1312

• Financing order: means an order of the commission, if granted by the commission in its sole discretion, which allows for all of the following:

              (a) The assessment, imposition, and periodic adjustment of system restoration charges by the corporation and the collection thereof by a utility as an agent on behalf of the corporation. See Louisiana Revised Statutes 45:1312

• Financing party: means any holder of system restoration bonds, any party to or beneficiary of an ancillary agreement, and any trustee, collateral agent, or other person acting for the benefit of any of the foregoing. See Louisiana Revised Statutes 45:1312
• Governing board: means that board of directors of the corporation which is established under Louisiana Revised Statutes 45:1312
• Hearing examiner: means one or more persons or commissioners designated by the commission to conduct a hearing. See Louisiana Revised Statutes 51:2232
• 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.
• Issuance costs: means any of the following:

              (a) Any initial payment made on issuance of, and any amount required to fund any system restoration sinking fund, reserve or overcollateralization fund, or other fund or account required by the documents pertaining to, system restoration bonds authorized by a financing order. See Louisiana Revised Statutes 45:1312

• Issuer: means any Louisiana public corporation, public trust, or other entity that issues system restoration bonds approved by a financing order. See Louisiana Revised Statutes 45:1312
• Lien creditor: means any of the following:

              (a) A creditor that has acquired a lien on the property involved by attachment, sequestration, seizure, levy, or the like. See Louisiana Revised Statutes 45:1312

• Major life activities: includes functions such as caring for oneself, performing manual tasks, walking, seeing, hearing, speaking, breathing, learning, and working. See Louisiana Revised Statutes 51:2232
• Mental impairment: means any mental or psychological disorder, such as intellectual disability, organic brain syndrome, emotional or mental illness, and specific learning disabilities. See Louisiana Revised Statutes 51:2232
• Oath: A promise to tell the truth.
• Oversight: Committee review of the activities of a Federal agency or program.
• person: includes a body of persons, whether incorporated or not. See Louisiana Revised Statutes 1:10
• Pledgee: means an issuer as pledgee of the corporation or an applicable financing party as pledgee of an issuer. See Louisiana Revised Statutes 45:1332
• Preferred interests: means preferred equity interests in a utility affiliate that pay preferred dividends to the trust that purchased those preferred equity interests. See Louisiana Revised Statutes 45:1332
• Purchase proceeds: means the proceeds received by a utility affiliate from the sale of its preferred interests to a trust. See Louisiana Revised Statutes 45:1332
• Related bonds: means , with respect to a trust, the system restoration bonds that funded the net proceeds transferred by an issuer to the corporation and then contributed by the corporation to that trust. See Louisiana Revised Statutes 45:1332
• Related utility: means , with respect to a trust, the utility that is a beneficiary of such trust and that obtains a financing order pursuant to this Subpart. See Louisiana Revised Statutes 45:1332
• Rescission: The cancellation of budget authority previously provided by Congress. The Impoundment Control Act of 1974 specifies that the President may propose to Congress that funds be rescinded. If both Houses have not approved a rescission proposal (by passing legislation) within 45 days of continuous session, any funds being withheld must be made available for obligation.
• State: means the state of Louisiana. See Louisiana Revised Statutes 45:1312
• Storm: means a named tropical storm or hurricane, ice or snow storm, flood, or other significant weather or natural disaster that occurred during calendar year 2005 or that occurs thereafter. See Louisiana Revised Statutes 45:1312
• Storm damage reserve: means a utility's storm reserve or such other similar reserve established pursuant to order or rule of the commission. See Louisiana Revised Statutes 45:1312
• System restoration activity: means any activity or activities by or on behalf of a utility in connection with the restoration of service associated with utility outages affecting customers of a utility as the result of a storm or storms, including but not limited to mobilization, staging, and construction, reconstruction, replacement, or repair of generation, transmission, distribution, or general plant facilities. See Louisiana Revised Statutes 45:1312
• System restoration bonds: means bonds, notes, certificates of participation, or other evidences of indebtedness that are issued pursuant to this Part by an issuer at the request of the corporation and a utility, and authorized by a financing order, the net proceeds of which are transferred to the corporation and used as provided in this Part, and which are secured by and payable from system restoration property. See Louisiana Revised Statutes 45:1312
• System restoration charge: means the nonbypassable charges, if determined appropriate by the commission and provided for in a financing order, to be assessed by the corporation on, and collected by the utility or other collection agent from, all existing and future customers of a utility, and periodically adjusted, in an amount sufficient at all times to pay the principal of and interest on particular system restoration bonds as the same shall become due and payable, all other financing costs, and any other costs as necessary to otherwise ensure the timely payment of such system restoration bonds, all as the commission may authorize in a financing order. See Louisiana Revised Statutes 45:1312
• System restoration costs: means , if requested by the utility, and as may be approved by the commission, those prudent incremental costs incurred or to be incurred by a utility in undertaking a system restoration activity, including associated carrying costs. See Louisiana Revised Statutes 45:1312
• System restoration property: means all of the following:

              (a) All rights and interests of the corporation arising out of this Part, including the right to receive system restoration charges billed and collected by the utility on the behalf of the corporation as authorized in the financing order, the right to enforce the obligations of the utility to collect and service the system restoration charges, and the right to obtain periodic adjustments to such charges as provided in the financing order and this Part. See Louisiana Revised Statutes 45:1312

• Trust: means an express special public trust created only pursuant to and in compliance with the provisions of this Subpart. See Louisiana Revised Statutes 45:1332
• Trust agreement: means , with respect to a trust, the written instrument that created the trust together with all proper amendments. See Louisiana Revised Statutes 45:1332
• Trustee: A person or institution holding and administering property in trust.
• under common control with: means the possession, direct or indirect, of the power to direct or cause the direction of the management and policies of an entity whether through the ownership of voting securities, by contract, or otherwise. See Louisiana Revised Statutes 45:1332
• Uniform Commercial Code: A set of statutes enacted by the various states to provide consistency among the states' commercial laws. It includes negotiable instruments, sales, stock transfers, trust and warehouse receipts, and bills of lading. ^{Source: OCC}
• Utility: means an electric utility or a gas utility. See Louisiana Revised Statutes 45:1312
• Utility affiliate: means an affiliate of the utility that obtains a financing order pursuant to this Subpart. See Louisiana Revised Statutes 45:1332
• Waters of the state: means any waters within the territorial limits of this state and the marginal sea adjacent to this state and the high seas when navigated as a part of a journey or ride to or from the shore of this state. See Louisiana Revised Statutes 34:851.2