Terms Used In Louisiana Revised Statutes > Title 3 > Chapter 21-D - Louisiana Soybean and Grain Research and Promotion Board

• Appeal: A request made after a trial, asking another court (usually the court of appeals) to decide whether the trial was conducted properly. To make such a request is "to appeal" or "to take an appeal." One who appeals is called the appellant.
• Average salary: shall mean the average annual earnable rate of salary of a member for the thirty-six highest consecutive months during the total service of the member. See Louisiana Revised Statutes 11:3033
• 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.
• Board: shall mean the Retirement Board of the City of Bogalusa Retirement System. See Louisiana Revised Statutes 11:3033
• Bona fide trade or professional association: means an active trade or professional association that is chartered and domiciled in Louisiana, or a successor organization thereof, that meets all of the following requirements:

              (a) Promotes Louisiana timber or agriculture production. See Louisiana Revised Statutes 3:4351.1

• City: shall mean the city of Bogalusa, Louisiana. See Louisiana Revised Statutes 11:3033
• Conviction: A judgement of guilt against a criminal defendant.
• Council: shall mean the City Commission Council of Bogalusa, Louisiana. See Louisiana Revised Statutes 11:3033
• Department: means the Department of Insurance. See Louisiana Revised Statutes 3:4351.1
• Donor: The person who makes a gift.
• Effective date: shall mean July 1, 1953. See Louisiana Revised Statutes 11:3033
• Employee: shall mean any appointive officer or employee of the city now or hereafter employed by the city, whose services are compensated by the city in whole or in part, who is not covered by any existing pension fund maintained by the city. See Louisiana Revised Statutes 11:3033
• Encumbrance: means any lien, privilege, judgment, mortgage, pledge, pawn, claim, charge, or any other encumbrance of like nature. See Louisiana Revised Statutes 3:1
• Equitable: Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy. See damages. A separate court of "equity" could order someone to do something or to cease to do something. See, e.g., injunction. In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases. ^{Source: U.S. Courts}
• Fund: means the self-insurance fund established pursuant to this Part to provide automobile coverage for timber transportation vehicles, agriculture transportation vehicles, or a combination of both types of vehicles and shall be known as the Louisiana Agriculture Transportation Group Self-Insured Fund. See Louisiana Revised Statutes 3:4351.1
• Insolvency: means the condition existing when the fund's liabilities are greater than the fund's assets as determined in accordance with generally accepted accounting principles as delineated in the fund's financial statement audited by an independent certified public accountant and calculated before a member distribution is payable or before a dividend is declared. See Louisiana Revised Statutes 3:4351.1
• Interest rate: The amount paid by a borrower to a lender in exchange for the use of the lender's money for a certain period of time. Interest is paid on loans or on debt instruments, such as notes or bonds, either at regular intervals or as part of a lump sum payment when the issue matures. ^{Source: OCC}
• Member: shall mean any employee included in the membership of the system. See Louisiana Revised Statutes 11:3033
• Operator: means a person, partnership, corporation, or limited liability company who owns or operates a timber or agriculture transportation vehicle. See Louisiana Revised Statutes 3:4351.1
• Principal: means a person or persons who own a majority interest or the majority of the stock in a corporation, partnership, or limited liability company that is established for the purpose of operating a timber or agriculture business and is a member of the fund. See Louisiana Revised Statutes 3:4351.1
• Recourse: An arrangement in which a bank retains, in form or in substance, any credit risk directly or indirectly associated with an asset it has sold (in accordance with generally accepted accounting principles) that exceeds a pro rata share of the bank's claim on the asset. If a bank has no claim on an asset it has sold, then the retention of any credit risk is recourse. ^{Source: FDIC}
• 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.
• 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.
• Salary: shall mean the amount of compensation earned by a member as an employee of the city. See Louisiana Revised Statutes 11:3033
• 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.
• Subpoena: A command to a witness to appear and give testimony.
• System: shall mean the City of Bogalusa Retirement System. See Louisiana Revised Statutes 11:3033
• Timber or agriculture transportation vehicle: means a vehicle or automobile used to collect and transport timber or agriculture products, or used in the course and scope of a timber or agriculture business, or used by an operator or principal. See Louisiana Revised Statutes 3:4351.1
• Timber or agriculture transportation vehicle coverage: means automobile coverage for a timber or agriculture transportation vehicle that includes any of the following:

              (a) Liability payment for bodily injury caused by the operator of a timber or agriculture transportation vehicle. See Louisiana Revised Statutes 3:4351.1

• Total service: shall mean service rendered before the operative date of the system, and subsequent thereto. See Louisiana Revised Statutes 11:3033
• Transcript: A written, word-for-word record of what was said, either in a proceeding such as a trial or during some other conversation, as in a transcript of a hearing or oral deposition.