Terms Used In Louisiana Revised Statutes > Title 41 > Chapter 6 > Part III - Sale of School Lands

• Actuarial equivalent: means a benefit of equivalent value to the accumulated contributions, annuity, or benefits, as the case may be, computed upon the basis of such interest and mortality assumptions as are adopted by the board or provided in law. See Louisiana Revised Statutes 11:3682
• Affidavit: A written statement of facts confirmed by the oath of the party making it, before a notary or officer having authority to administer oaths.
• Agent: means a person who solicits prospective purchasers or negotiates on behalf of a seller. See Louisiana Revised Statutes 51:1821
• Allegation: something that someone says happened.
• 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.
• Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year.
• 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.
• Appraisal: A determination of property value.
• Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
• Authorized user: means with respect to a computer, a person who owns or is authorized by the owner or lessee to use the computer. See Louisiana Revised Statutes 51:2007
• Beneficiary: means any person designated to receive a pension, an annuity, a retirement allowance, or other benefit as provided by this Subpart. See Louisiana Revised Statutes 11:3682
• 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}
• board: means the board provided for in Louisiana Revised Statutes 11:3682
• Business opportunity: means the sale or lease for an initial required consideration exceeding three hundred dollars of any goods or services which are transferred to a purchaser for the purpose of enabling the purchaser to start a business, and in which the seller or agent:

  (a)  Represents that the seller or an entity to which it will refer the purchaser, will provide or assist the purchaser in finding business locations on premises neither owned nor leased by the purchaser or seller for the use or operation of vending machines, racks, display cases, currency-operated amusement machines, or other similar devices; or

  (b)  Represents that the seller, or any entity to which it will refer the purchaser, will purchase any or all products to be sold, made, produced, fabricated, assembled, grown, bred, or modified by the purchaser using in whole or in part the supplies, services, or goods sold to the purchaser by the seller; or

  (c)  Guarantees that the purchaser is to derive income from the business opportunity which exceeds the price paid for the business opportunity, or that the seller is to refund all or part of the price paid for the business opportunity, or repurchase any of the products, equipment, supplies, or goods supplied by the seller, if the purchaser is unsatisfied with the business opportunity; or

  (d)  Represents that for a fee exceeding three hundred dollars the seller will provide a sales plan or marketing program which will enable the purchaser to derive income from the business opportunity which exceeds the price paid for the business opportunity. See Louisiana Revised Statutes 51:1821

• Case law: The law as laid down in cases that have been decided in the decisions of the courts.
• Cause computer software to be copied: means to distribute, transfer, or procure the copying of computer software or any component thereof. See Louisiana Revised Statutes 51:2007
• Charity: An agency, institution, or organization in existence and operating for the benefit of an indefinite number of persons and conducted for educational, religious, scientific, medical, or other beneficent purposes.
• Collateral costs: means sales tax, license fees, and registration fees and any similar governmental charges. See Louisiana Revised Statutes 51:1941
• Commissioner: means the commissioner of financial institutions. See Louisiana Revised Statutes 9:3516
• Computer software: means a sequence of instructions written in any programming language that is executed on a computer. See Louisiana Revised Statutes 51:2007
• Consumer: means a natural person who purchases goods, services, or movable or immovable property or rights therein, for a personal, family, or household purpose and includes a purchaser or buyer in a consumer credit sale or transaction made with the use of a seller credit card or otherwise, or a borrower or debtor in a consumer loan, revolving loan account, or a lender credit card. See Louisiana Revised Statutes 9:3516
• Consumer: means :

              (a) The purchaser, other than for purposes of resale, of a new motor vehicle normally used for personal, family, or household purposes and subject to a manufacturer's express warranty. See Louisiana Revised Statutes 51:1941

• Consumer credit transaction: means a consumer loan or a consumer credit sale but does not include a motor vehicle credit transaction made pursuant to Louisiana Revised Statutes 9:3516
• Consumer loan: means a loan of money or its equivalent made by a supervised financial organization, a licensed lender, or lender in which the debtor is a consumer, and the loan is entered into primarily for personal, family, or household purposes and includes debts created by the use of a lender credit card, revolving loan account, or similar arrangement, as well as insurance premium  financing. See Louisiana Revised Statutes 9:3516
• Continuance: Putting off of a hearing ot trial until a later time.
• Contract: A legal written agreement that becomes binding when signed.
• Conviction: A judgement of guilt against a criminal defendant.
• Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
• Credit card: means any card, plate, coupon book, or other single credit device that may be used from time to time to obtain credit. See Louisiana Revised Statutes 9:3516
• creditor: as used in this Chapter includes a seller in a consumer credit sale, revolving charge account, or transaction made with the use of a seller credit card or otherwise, or a lender in a consumer loan, a revolving loan account, or a lender credit card transaction. See Louisiana Revised Statutes 9:3516
• Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
• Dealer: means a person authorized by the manufacturer and actively engaged in the business of buying, selling, or exchanging new automobiles, new personal watercraft, or new all-terrain vehicles at retail and who has an established place of business. See Louisiana Revised Statutes 51:1941
• Deed: The legal instrument used to transfer title in real property from one person to another.
• Department: means the Department of Justice. See Louisiana Revised Statutes 51:1821
• Department: means the Louisiana Department of Health and any healthcare professional licensing board transferred to and placed within the department pursuant to Louisiana Revised Statutes 40:2199.12
• Dependent: A person dependent for support upon another.
• Donor: The person who makes a gift.
• Educational institution: means a public or private educational institution or a separate school or department of a public or private educational institution and includes but is not limited to the following:

  (a)  A university, college, or junior college. See Louisiana Revised Statutes 51:1952

• Electronic communications device: means any device that uses electronic signals to create, transmit, and receive information, including a computer, telephone, personal digital assistant, or other similar device. See Louisiana Revised Statutes 51:1952
• Employee: means any commissioned member or employee of the Harbor Police Department of the Port of New Orleans prior to July 1, 2004, or any commissioned member of the Harbor Police Department of the Port of New Orleans on or after July 1, 2004 and hired on or before June 30, 2014. See Louisiana Revised Statutes 11:3682
• Employer: means a person, including a unit of state or local government, engaged in a business, industry, profession, trade, or other enterprise in this state and includes an agent, representative, or designee of the employer. See Louisiana Revised Statutes 51:1952
• Employer: means the Board of Commissioners of the Port of New Orleans. See Louisiana Revised Statutes 11:3682
• Enrolled bill: The final copy of a bill or joint resolution which has passed both chambers in identical form. It is printed on parchment paper, signed by appropriate officials, and submitted to the President/Governor for signature.
• Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
• Executive session: A portion of the Senate's daily session in which it considers executive business.
• Fraud: Intentional deception resulting in injury to another.
• Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
• Grace period: The number of days you'll have to pay your bill for purchases in full without triggering a finance charge. ^{Source: Federal Reserve}
• Initial required consideration: includes consideration required by express condition or practical necessity, or for which the buyer or lessee becomes obligated before the commencement of the business, or during the following one hundred eighty days. See Louisiana Revised Statutes 51:1821
• 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}
• Internet: means the global information system that is logically linked together by a globally unique address space based on the Internet Protocol (IP), or its subsequent extensions, and that is able to support communications using the Transmission Control Protocol/Internet Protocol (TCP/IP) suite, or its subsequent extensions, or other IP-compatible protocols, and that provides, uses, or makes accessible, either publicly or privately, high-level services layered on the communications and related infrastructure described in this Chapter. See Louisiana Revised Statutes 51:2007
• 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.
• Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). ^{Source: OCC}
• Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
• Licensed lender: means a person licensed by the commissioner to make consumer loans pursuant to this Chapter. See Louisiana Revised Statutes 9:3516
• Licensing board: means any board or commission that has the duty to license a regulated entity as defined in this Section. See Louisiana Revised Statutes 40:2199.12
• Lien: A claim against real or personal property in satisfaction of a debt.
• Manufacturer: means any person, firm, association, corporation, or trust, resident or nonresident, who manufactures or assembles new and unused motor vehicles. See Louisiana Revised Statutes 51:1941
• Member: includes any employees, as defined in Paragraph (16) of this Section, included in the membership of this plan as provided in Louisiana Revised Statutes 11:3682
• Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
• Motor vehicle: means a passenger motor vehicle or a passenger and commercial motor vehicle as defined in Louisiana Revised Statutes 51:1941
• Nonconformity: means any specific or generic defect or malfunction, or any defect or condition which substantially impairs the use, market value or both of a motor vehicle. See Louisiana Revised Statutes 51:1941
• Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
• Organization: means corporation, government or governmental subdivision or agency, trust, estate, partnership, cooperative, or association. See Louisiana Revised Statutes 9:3516
• 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: as used in this Chapter means an individual or corporation, partnership, trust, association, joint venture pool, syndicate, sole proprietorship, unincorporated organization, or any other form of entity not specifically listed herein. See Louisiana Revised Statutes 9:3516
• person: includes a body of persons, whether incorporated or not. See Louisiana Revised Statutes 1:10
• Personal online account: means an online account that the employee, applicant for employment, student, or prospective student uses exclusively for personal communications unrelated to any business purpose of the employer or educational institution. See Louisiana Revised Statutes 51:1952
• Personally identifiable information: means any of the following:

  (a)  First name or first initial in combination with last name. See Louisiana Revised Statutes 51:2007

• Plan: means the Harbor Police Retirement Plan established in this Subpart and administered as a plan within the Louisiana State Employees' Retirement System pursuant to Louisiana Revised Statutes 11:3682
• Port commission: means the Board of Commissioners of the Port of New Orleans. See Louisiana Revised Statutes 11:3682
• Precedent: A court decision in an earlier case with facts and law similar to a dispute currently before a court. Precedent will ordinarily govern the decision of a later similar case, unless a party can show that it was wrongly decided or that it differed in some significant way.
• Prescription drug: means a drug as defined in Louisiana Revised Statutes 40:2255.1
• Procure the copying: means to pay or provide other consideration to or induce another person to cause software to be copied onto a computer. See Louisiana Revised Statutes 51:2007
• Quorum: The number of legislators that must be present to do business.
• 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}
• Regulated entity: means any licensed healthcare facility listed in Louisiana Revised Statutes 40:2199.12
• 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.
• Retirement: means withdrawal from active service with a retirement allowance granted under the provisions of this Subpart. See Louisiana Revised Statutes 11:3682
• Seller: means a person or entity which sells or leases, or offers to sell or to lease a business opportunity. See Louisiana Revised Statutes 51:1821
• Service: means service rendered as an employee as described in Paragraph (16) of this Section. See Louisiana Revised Statutes 11:3682
• Service of process: The service of writs or summonses to the appropriate party.
• 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.
• Statute: A law passed by a legislature.
• Subpoena: A command to a witness to appear and give testimony.
• system: means the Louisiana State Employees' Retirement System. See Louisiana Revised Statutes 11:3682
• Trial: A hearing that takes place when the defendant pleads "not guilty" and witnesses are required to come to court to give evidence.
• Trust account: A general term that covers all types of accounts in a trust department, such as estates, guardianships, and agencies. ^{Source: OCC}
• Trustee: A person or institution holding and administering property in trust.
• Workplace violence: means violent acts, including battery or the intentional placing of another person in reasonable apprehension of sustaining battery, directed toward persons at work or on duty with their employment. See Louisiana Revised Statutes 40:2199.12
• Writ: A formal written command, issued from the court, requiring the performance of a specific act.