Terms Used In Louisiana Revised Statutes > Title 11 > Subtitle II > Chapter 2 > Part X > Subpart B - Administration

• 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.
• Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
• Attachment: A procedure by which a person's property is seized to pay judgments levied by the court.
• 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}
• Bequest: Property gifted by will.
• Board of trustees: means and includes the members of the board of trustees of the retirement system. See Louisiana Revised Statutes 11:951.1
• 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.
• Decedent: A deceased person.
• Defendant: In a civil suit, the person complained against; in a criminal case, the person accused of the crime.
• Donor: The person who makes a gift.
• 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.
• Executor: A male person named in a will to carry out the decedent
• Fiduciary: A trustee, executor, or administrator.
• Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
• Gross estate: The total fair market value of all property and property interests, real and personal, tangible and intangible, of which a decedent had beneficial ownership at the time of death before subtractions for deductions, debts, administrative expenses, and casualty losses suffered during estate administration.
• 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.
• Jurisprudence: The study of law and the structure of the legal system.
• Legacy: A gift of property made by will.
• Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
• Marital deduction: The deduction(s) that can be taken in the determination of gift and estate tax liabilities because of the existence of a marriage or marital relationship.
• Medical board: means the board of physicians provided for in this Part. See Louisiana Revised Statutes 11:951.1
• Member: means any teacher included in the membership of the system as provided in Part II of this Chapter. See Louisiana Revised Statutes 11:701
• Participant: means any employee who is entitled to the beneficial provisions of this retirement system. See Louisiana Revised Statutes 11:951.1
• 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: includes a body of persons, whether incorporated or not. See Louisiana Revised Statutes 1:10
• Quorum: The number of legislators that must be present to do business.
• Retirement: means withdrawal from active service with a retirement allowance allowable under the provisions of this Part. See Louisiana Revised Statutes 11:951.1
• Retirement system: means the corporation known as the Orleans Parish School Employees' Retirement System established in La. See Louisiana Revised Statutes 11:951.1
• Service: means service rendered by an employee as herein defined. See Louisiana Revised Statutes 11:951.1
• Testator: A male person who leaves a will at death.
• Trustee: A person or institution holding and administering property in trust.