Louisiana Revised Statutes > Title 9 > CODE TITLE II > Chapter 1-B – Foreign Trusts
Current as of: 2024 | Check for updates
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Other versions
| § 9:2262.1 | Definitions |
| § 9:2262.2 | Recordation of instruments |
| § 9:2262.3 | Authority to convey |
| § 9:2262.4 | Form |
Terms Used In Louisiana Revised Statutes > Title 9 > CODE TITLE II > Chapter 1-B - Foreign Trusts
- 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.
- 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.
- foreign trust: shall mean any of the following:
(1) A trust which by the terms of the trust instrument is governed by the law of a jurisdiction other than Louisiana. See Louisiana Revised Statutes 9:2262.1
- Inter vivos: Transfer of property from one living person to another living person.
- Trustee: A person or institution holding and administering property in trust.
Louisiana Revised Statutes > Title 9 > CODE TITLE II > Chapter 1-B – Requisites for a Valid Agreement
Current as of: 2024 | Check for updates
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Terms Used In Louisiana Revised Statutes > Title 9 > CODE TITLE II > Chapter 1-B - Requisites for a Valid Agreement
- 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.
- Answer: The formal written statement by a defendant responding to a civil complaint and setting forth the grounds for defense.
- Asset forfeiture: A procedure by which a person's property is seized to pay judgments levied by the court.
- 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
- Board of directors: means the board of directors of the corporation created under this Chapter. See Louisiana Revised Statutes 12:951
- 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.
- Conviction: A judgement of guilt against a criminal defendant.
- Corporation: means a Louisiana industrial development corporation created under this Chapter. See Louisiana Revised Statutes 12:951
- Deed: The legal instrument used to transfer title in real property from one person to another.
- Dismissal: The dropping of a case by the judge without further consideration or hearing. Source:
- Escrow: Money given to a third party to be held for payment until certain conditions are met.
- Financial institution: means any banking corporation or trust company, savings and loan association, insurance company or related corporation, partnership, foundation, or other institution engaged primarily in lending or investing funds. See Louisiana Revised Statutes 12:951
- Forgery: The fraudulent signing or alteration of another's name to an instrument such as a deed, mortgage, or check. The intent of the forgery is to deceive or defraud. Source: OCC
- Fraud: Intentional deception resulting in injury to another.
- 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
- Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
- Litigation: A case, controversy, or lawsuit. Participants (plaintiffs and defendants) in lawsuits are called litigants.
- Member: means any financial institution authorized to do business within this state which shall undertake to lend money to a corporation created under this Chapter, upon its call, and in accordance with the provisions of this Chapter. See Louisiana Revised Statutes 12:951
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
- Mortgage loan: A loan made by a lender to a borrower for the financing of real property. Source: OCC
- Oath: A promise to tell the truth.
- 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.
- 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.
- professional medical corporation: means a corporation organized pursuant to this Chapter for the practice of medicine or podiatry. See Louisiana Revised Statutes 12:901
- Quorum: The number of legislators that must be present to do business.
- Testify: Answer questions in court.
- Testimony: Evidence presented orally by witnesses during trials or before grand juries.
- Tort: A civil wrong or breach of a duty to another person, as outlined by law. A very common tort is negligent operation of a motor vehicle that results in property damage and personal injury in an automobile accident.