Terms Used In Louisiana Revised Statutes > Title 11 > Subtitle III > Chapter 1 > Part V - Financing of Fund

• Agency: as used in this Chapter shall have the same meaning ascribed to it as provided in La. See Louisiana Revised Statutes 39:1556
• 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.
• Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
• Board: means the board of trustees of the Assessors' Retirement Fund. See Louisiana Revised Statutes 11:1402
• Chief procurement officer: means the person holding the position created in La. See Louisiana Revised Statutes 39:1556
• Commission: means the Agricultural Chemistry and Seed Commission. See Louisiana Revised Statutes 3:1462
• Commissioner: means the Louisiana commissioner of agriculture and forestry. See Louisiana Revised Statutes 3:1462
• Commissioner: means the commissioner of the office of alcohol and tobacco control. See Louisiana Revised Statutes 3:1481
• Consumable hemp product: means any product derived from industrial hemp that contains any cannabinoid, including cannabidiol, and is intended for consumption or topical use. See Louisiana Revised Statutes 3:1481
• Contract: A legal written agreement that becomes binding when signed.
• Contract: means all types of state agreements, regardless of what they may be called, including orders and documents purporting to represent grants, which are for the purchase or disposal of supplies, services, major repairs, or any other item. See Louisiana Revised Statutes 39:1556
• Contractor: means any person having a contract with a governmental body. See Louisiana Revised Statutes 39:1556
• 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.
• Department: means the Louisiana Department of Agriculture and Forestry. See Louisiana Revised Statutes 3:1462
• Department: means the Louisiana Department of Health. See Louisiana Revised Statutes 3:1481
• Designee: means a duly authorized representative of a person holding a superior position. See Louisiana Revised Statutes 39:1556
• Ex officio: Literally, by virtue of one's office.
• Fund: means the Assessors' Retirement Fund. See Louisiana Revised Statutes 11:1402
• hemp: means the plant Cannabis sativa L. See Louisiana Revised Statutes 3:1481
• in writing: means the product of any method of forming characters on paper, other materials, or viewable screen, which can be read, retrieved, and reproduced, including information that is electronically transmitted and stored. See Louisiana Revised Statutes 39:1556
• Industrial hemp: means the plant Cannabis sativa L. See Louisiana Revised Statutes 3:1462
• 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.
• Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
• Major repairs: means those repairs payable with funds appropriated in the general appropriations act, except those funds transferred from the operating budget of one governmental body to supplement and complete a project under contract by the division of administration facility planning and control section. See Louisiana Revised Statutes 39:1556
• Package: means a container or wrapping in which any consumer commodity is enclosed for the purpose of delivery or display of that commodity to retail purchasers and contains one or more servings. See Louisiana Revised Statutes 3:1481
• 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 an individual or any legal or commercial entity, including a corporation, business trust, partnership, limited liability company, association, or joint venture. See Louisiana Revised Statutes 3:1
• Practicable: means that which can be done or put into practice; feasible. See Louisiana Revised Statutes 39:1556
• Procurement: means the buying, purchasing, renting, leasing, or otherwise obtaining any supplies, services, or major repairs. See Louisiana Revised Statutes 39:1556
• Procurement officer: means any person authorized by a governmental body, in accordance with procedures prescribed by regulations, to enter into and administer contracts and make written determinations and findings with respect thereto. See Louisiana Revised Statutes 39:1556
• Retailer: means a person or entity who offers any consumable hemp product for sale at retail. See Louisiana Revised Statutes 3:1481
• sale at retail: means the sale or any transaction in lieu of a sale of products to the public for use or consumption but does not include the sale or any transaction in lieu of a sale of products for resale. See Louisiana Revised Statutes 3:1481
• Services: means the furnishing of labor, time, or effort by a contractor whose primary purpose is to perform an identifiable task rather than to furnish an end item of supply. See Louisiana Revised Statutes 39:1556
• Statute: A law passed by a legislature.
• Supplies: means all property, including but not limited to equipment, materials, insurance, and leases on immovable property excluding land or a permanent interest in land. See Louisiana Revised Statutes 39:1556
• THC: means a combination of tetrahydrocannabinol and tetrahydrocannabinolic acid. See Louisiana Revised Statutes 3:1481
• Using agency: means any governmental body of the state which utilizes any supplies, services, or major repairs purchased under this Chapter. See Louisiana Revised Statutes 39:1556