Terms Used In Louisiana Revised Statutes > Title 11 > Subtitle II > Chapter 2 > Part X > Subpart C - Management and Expenditure of Funds

• Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
• 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 trustees: means and includes the members of the board of trustees of the retirement system. See Louisiana Revised Statutes 11:951.1
• Compensation: means a payment of money, objects, services, or anything else having monetary value. See Louisiana Revised Statutes 9:2718.1
• Contract: A legal written agreement that becomes binding when signed.
• Decedent: A deceased person.
• Donor: The person who makes a gift.
• Employee: means any person regularly employed in any capacity under the control of the Orleans Parish School Board who is not a teacher or whose legal employment does not require the holding of a teacher's certificate, including employees of the public school lunch department, all skilled and unskilled employees of the maintenance department, managers, custodians, subcustodians, and others who are not temporarily employed, and are paid out of funds under the control of the Orleans Parish School Board, who are not now eligible for membership in any other retirement system created or established by the State of Louisiana or any of its political subdivisions. See Louisiana Revised Statutes 11:951.1
• Fiduciary: A trustee, executor, or administrator.
• Genetic gestational carrier: means the process by which a woman attempts to carry and give birth to a child using her own gametes and either the gametes of a person who intends to parent the child or donor gametes, when there is an agreement to relinquish the custody of and all rights and obligations to the child. See Louisiana Revised Statutes 9:2718.1
• Gestational carrier: means a woman who agrees to engage in a process by which she attempts to carry and give birth to a child born as a result of an in utero transfer of a human embryo to which she makes no genetic contribution. See Louisiana Revised Statutes 9:2718.1
• In utero embryo transfer: means the medical procedure whereby the genetic mother's egg is fertilized with the sperm of the genetic father, with the resulting embryo transferred into the uterus of the gestational carrier. See Louisiana Revised Statutes 9:2718.1
• Intended parents: means a married couple who each exclusively contribute their own gametes to create their embryo and who enter into an enforceable gestational carrier contract, as defined in this Chapter, with a gestational carrier pursuant to which the intended parents will be the legal parents of the child resulting from an in utero embryo transfer. See Louisiana Revised Statutes 9:2718.1
• Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
• Pension: means annual payments for life, payable in equal monthly installments, derived from money provided by the Orleans Parish School Board and other amounts accumulated in the pension accumulation account as provided for in this Part. See Louisiana Revised Statutes 11:951.1
• Pensions: means payments for life. See Louisiana Revised Statutes 11:701
• person: includes a body of persons, whether incorporated or not. See Louisiana Revised Statutes 1:10
• Regular interest: means interest compounded annually at such rate as shall be determined by the board of trustees. See Louisiana Revised Statutes 11:951.1
• 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
• Trustee: A person or institution holding and administering property in trust.