Terms Used In Louisiana Revised Statutes > Title 3 > Chapter 22-A - Security Devices Affecting Farm Products

• 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.
• Appellate: About appeals; an appellate court has the power to review the judgement of another lower court or tribunal.
• Board: shall mean the Retirement Board of the City of Bogalusa Retirement System. See Louisiana Revised Statutes 11:3033
• Central registry: means the master index maintained by the secretary as provided by this Chapter, reflecting information contained in all effective financing statements, and statements evidencing assignments, amendments, extensions, and cancellations thereof. See Louisiana Revised Statutes 3:3652
• City: shall mean the city of Bogalusa, Louisiana. See Louisiana Revised Statutes 11:3033
• Commission merchant: means any person engaged in the business of receiving any farm product for sale, on commission, or for or on behalf of another person. See Louisiana Revised Statutes 3:3652
• Complaint: A written statement by the plaintiff stating the wrongs allegedly committed by the defendant.
• Council: shall mean the City Commission Council of Bogalusa, Louisiana. See Louisiana Revised Statutes 11:3033
• Creditor: means any person who holds a security interest in a farm product. See Louisiana Revised Statutes 3:3652
• Debtor: means any person who owns or has an ownership interest in farm products which are subject to a security interest of creditors. See Louisiana Revised Statutes 3:3652
• 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
• Effective financing statement: means a written instrument which is an abstract of a security device and which complies with the provisions of Louisiana Revised Statutes 3:3652
• 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
• Encumbrance certificate: means a written document which lists all effective financing statements affecting a person which have been filed with the filing officer and containing the information required by this Chapter to be transmitted to the secretary for inclusion in the central registry on the date and at the time the certificate is issued and which complies with the provisions of Louisiana Revised Statutes 3:3652
• Escrow: Money given to a third party to be held for payment until certain conditions are met.
• Farm product: means any type of crop whether growing or to be grown, and whether harvested or unharvested, or any species of livestock, or any type of agricultural commodity or product raised or cultivated of every type and description, including but not limited to cattle, hogs, sheep, horses, bees, rabbits, or poultry, and oysters, crabs, prawns, shrimp, alligators, turtles, and fish raised, produced, cultivated, harvested, or gathered on any beds of bodies of water, whether owned, leased, or licensed by the debtor, grains, beans, vegetables, grasses, legumes, melons, tobacco, cotton, flowers, shrubberies, plants and fruits, nuts and berries, and other similar products whether of trees or other sources, or if they are a product of such crop or livestock in its unmanufactured state, such as seed, ginned cotton, wool-clip, honey, syrup, meat, milk, eggs, and cut, harvested, or standing timber, or supplies used or produced in farming operations, and if they are in the possession, including civil possession as defined in Civil Code Articles 3421 and 3431, of a debtor engaged in planting, producing, raising, cultivating, harvesting, gathering, fattening, grazing, or other farming operations. See Louisiana Revised Statutes 3:3652
• Filing officer: means the clerk of court of any parish. See Louisiana Revised Statutes 3:3652
• 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
• Hazardous financial condition: means a condition in which, based upon its present or reasonably anticipated financial condition, the fund, although not yet financially impaired or insolvent, is unlikely to be able to:

              (a) Meet obligations with respect to known claims and reasonably anticipated claims. See Louisiana Revised Statutes 3:4351.1

• Injunction: An order of the court prohibiting (or compelling) the performance of a specific act to prevent irreparable damage or injury.
• 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
• Intangible property: Property that has no intrinsic value, but is merely the evidence of value such as stock certificates, bonds, and promissory notes.
• knowledge: means actual knowledge. See Louisiana Revised Statutes 3:3652
• Member: shall mean any employee included in the membership of the system. See Louisiana Revised Statutes 11:3033
• Office: means the office of the secretary of state of the state of Louisiana. See Louisiana Revised Statutes 3:3652
• Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
• Person: means any individual, partnership, corporation, trust, or other business entity. See Louisiana Revised Statutes 3:3652
• Regular interest: shall mean such rate of interest as is fixed by the board provided that for the first five years of operation of the system the rate shall be three percent per annum compounded annually. See Louisiana Revised Statutes 11:3033
• 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.
• Secretary: means the secretary of state of the state of Louisiana, or his duly authorized agent. See Louisiana Revised Statutes 3:3652
• Secured party: means a creditor with a security interest in farm products. See Louisiana Revised Statutes 3:3652
• Security device: means a written security agreement that establishes a creditor's security interest in farm products or any agricultural lien as defined in La. See Louisiana Revised Statutes 3:3652
• Security interest: means an interest in or encumbrance upon farm products that secures payment or performance of an obligation. See Louisiana Revised Statutes 3:3652
• 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
• Testimony: Evidence presented orally by witnesses during trials or before grand juries.
• Total service: shall mean service rendered before the operative date of the system, and subsequent thereto. See Louisiana Revised Statutes 11:3033