Sections
Part I Definitions 12:1301
Part II Formation 12:1302 – 12:1310.1
Part III Management and Management Rights of Members 12:1311 – 12:1320
Part IV Finance 12:1321 – 12:1323
Part V Distributions 12:1324 – 12:1328
Part VI Assignment of Membership Interests 12:1329 – 12:1333.1
Part VII Dissolution 12:1334 – 12:1341
Part VIII Foreign Limited Liability Companies 12:1342 – 12:1355
Part IX Merger 12:1357 – 12:1362
Part X Miscellaneous 12:1363 – 12:1370
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Terms Used In Louisiana Revised Statutes > Title 12 > Chapter 22 - Limited Liability Companies

  • Acquittal:
    1. Judgement that a criminal defendant has not been proved guilty beyond a reasonable doubt.
    2. A verdict of "not guilty."
     
  • Acting in concert: means persons who knowingly act together with a common goal of jointly acquiring control of a licensee whether or not pursuant to an express agreement. See Louisiana Revised Statutes 6:1382
  • Administrator: means the state treasurer. See Louisiana Revised Statutes 9:153
  • Affiliate: means any person who controls, is controlled by, or is under common control with another person. See Louisiana Revised Statutes 6:1382
  • Allegation: something that someone says happened.
  • Amortization: Paying off a loan by regular installments.
  • Apparent owner: means a person whose name appears on the records of a holder as the person entitled to property held, issued, or owed by the holder. See Louisiana Revised Statutes 9:153
  • Appellate: About appeals; an appellate court has the power to review the judgement of another lower court or tribunal.
  • Applicant: means a person who applies for a license pursuant to this Chapter. See Louisiana Revised Statutes 6:1382
  • Arrest: Taking physical custody of a person by lawful authority.
  • Articles of organization: means documents filed under La. See Louisiana Revised Statutes 12:1301
  • average final compensation: means the average annual earned compensation of a member for the sixty highest months of successive employment, or for the highest sixty successive joined months of employment where interruption of service occurred. See Louisiana Revised Statutes 11:2213
  • Blockchain: means any ledger of exchange, sale, or transfer of virtual currency which is accessible by computers or operators that are part of any virtual currency network. See Louisiana Revised Statutes 6:1382
  • Board: means the Board of Supervisors of Community and Technical Colleges. See Louisiana Revised Statutes 17:540
  • Board: means the Louisiana Cemetery Board. See Louisiana Revised Statutes 8:1
  • Board of trustees: shall mean the board provided for in La. See Louisiana Revised Statutes 11:2213
  • Burial: means the placement of human remains in a grave. See Louisiana Revised Statutes 8:1
  • Business: means any trade, occupation, profession, or other commercial activity, including but not limited to professions licensed by a state or other governmental agency whether or not engaged in for profit. See Louisiana Revised Statutes 12:1301
  • Business association: means a corporation, joint stock company, investment company, partnership, unincorporated association, joint venture, limited liability company, business trust, trust company, savings and loan association, building and loan association, savings bank, industrial bank, land bank, safe deposit company, safekeeping depository, bank, banking organization, financial organization, insurance company, mutual fund, credit union, utility, or other business entity consisting of one or more persons, whether or not for profit. See Louisiana Revised Statutes 9:153
  • Cemetery: means a place used or intended to be used for the interment of the human dead and, to the extent allowed in accordance with this Title, pet remains. See Louisiana Revised Statutes 8:1
  • Cemetery space: means a grave, crypt, vault, niche, tomb, lawn crypt, or any other property used or intended to be used for the interment of human remains. See Louisiana Revised Statutes 8:1
  • clinician: means a licensed physician, a physician assistant providing healthcare services in accordance with La. See Louisiana Revised Statutes 17:1200
  • Columbarium: means a building, structure, room, or other space in a building or structure containing niches for permanent inurnment of cremated remains in a place used or intended to be used, and dedicated, for cemetery purposes. See Louisiana Revised Statutes 8:1
  • Commissioner: means the commissioner of the office of financial institutions. See Louisiana Revised Statutes 6:1382
  • Common law: The legal system that originated in England and is now in use in the United States. It is based on judicial decisions rather than legislative action.
  • Community cemetery: means a cemetery owned, operated, controlled, or managed by any association or organization in which the sale of lots, graves, crypts, vaults, or niches is restricted principally to individuals within a community. See Louisiana Revised Statutes 8:1
  • Constituent entity: means each limited liability company, partnership, partnership in commendam, limited partnership, or corporation which is party to an agreement of merger or consolidation pursuant to La. See Louisiana Revised Statutes 12:1301
  • Control: when used in the context described, means the following:

                (a) When used in reference to a transaction or relationship involving virtual currency, power to execute unilaterally or prevent indefinitely a virtual currency transaction. See Louisiana Revised Statutes 6:1382

  • Corporation: means a corporation formed under the laws of this state or a foreign corporation as defined in La. See Louisiana Revised Statutes 12:1301
  • Corporation: means any corporation or limited liability company which is authorized by its articles or an operating agreement to conduct any one or more of the businesses of a cemetery. See Louisiana Revised Statutes 8:1
  • Courses: means one of the following:

                (a) Academic courses that the successful completion of which would result in earned credit that may be transferred to a public postsecondary education institution and applied toward an undergraduate degree. See Louisiana Revised Statutes 17:2942

  • Court reporter: A person who makes a word-for-word record of what is said in court and produces a transcript of the proceedings upon request.
  • Covered agency: means any of the following:

                (a) Any federal, state, or local law enforcement agency. See Louisiana Revised Statutes 6:1372

  • Covered financial institution: means any bank, credit union, savings bank, savings and loan association, or trust company operating in Louisiana. See Louisiana Revised Statutes 6:1372
  • Credit report: A detailed report of an individual's credit history prepared by a credit bureau and used by a lender in determining a loan applicant's creditworthiness. Source: OCC
  • Creditable service: shall mean service for which credit is allowable as provided in La. See Louisiana Revised Statutes 11:2213
  • Custody services: means the safekeeping or custody of virtual currency or other assets by a financial institution or trust company. See Louisiana Revised Statutes 6:1401
  • Deed: The legal instrument used to transfer title in real property from one person to another.
  • Deposition: An oral statement made before an officer authorized by law to administer oaths. Such statements are often taken to examine potential witnesses, to obtain discovery, or to be used later in trial.
  • Directors: means the board of directors, board of trustees, or other governing body of a cemetery authority, cemetery sales organization, or cemetery management organization. See Louisiana Revised Statutes 8:1
  • disability: means unable to or the inability to perform the essential functions of the job the member of the teaching staff or employee was performing at the time of his injury. See Louisiana Revised Statutes 17:1200
  • domestic limited liability company: means an entity that is an unincorporated association having one or more members that is organized and existing under this Chapter. See Louisiana Revised Statutes 12:1301
  • Domicile: means the state of incorporation of a corporation and the state of the principal place of business of a holder other than a corporation. See Louisiana Revised Statutes 9:153
  • Donor: The person who makes a gift.
  • Dual enrollment: means the enrollment of a secondary school student in a postsecondary course for which both secondary school and postsecondary credit may be earned. See Louisiana Revised Statutes 17:2942
  • Eligible adult: means any of the following:

                (a) Any person sixty years of age or older. See Louisiana Revised Statutes 6:1372

  • Employee: shall mean any of the following classifications:

                (a)(i) Any full-time police officer, empowered to make arrests. See Louisiana Revised Statutes 11:2213

  • employee: means any person in the employ of the Iberville Parish School Board who is a member of or is eligible for membership in the State Teachers' Retirement System of Louisiana and who is not covered by the provisions of the State Teachers' Tenure Act. See Louisiana Revised Statutes 17:531
  • Employee: means any full-time teacher or instructional personnel of a vocational-technical school. See Louisiana Revised Statutes 17:540
  • Employer: shall mean any municipality in the state of Louisiana which employs a full-time police officer, empowered to make arrests, or which has an elected chief of police whose salary is at least one thousand dollars per month, and the Municipal Police Employees' Retirement System. See Louisiana Revised Statutes 11:2213
  • En banc: In the bench or "full bench." Refers to court sessions with the entire membership of a court participating rather than the usual quorum. U.S. courts of appeals usually sit in panels of three judges, but may expand to a larger number in certain cases. They are then said to be sitting en banc.
  • Entitlement: A Federal program or provision of law that requires payments to any person or unit of government that meets the eligibility criteria established by law. Entitlements constitute a binding obligation on the part of the Federal Government, and eligible recipients have legal recourse if the obligation is not fulfilled. Social Security and veterans' compensation and pensions are examples of entitlement programs.
  • Entombment: means the placement of human remains in a mausoleum. See Louisiana Revised Statutes 8:1
  • Escheat: Reversion of real or personal property to the state when 1) a person dies without leaving a will and has no heirs, or 2) when the property (such as a bank account) has been inactive for a certain period of time. Source: OCC
  • Exchange: when used as a verb, means to assume control of virtual currency from, or on behalf of, a resident, at least momentarily, to sell, trade, or convert either of the following:

                (a) Virtual currency for legal tender, bank credit, or one or more forms of virtual currency. See Louisiana Revised Statutes 6:1382

  • Executor: A male person named in a will to carry out the decedent
  • Federal Deposit Insurance Corporation: A government corporation that insures the deposits of all national and state banks that are members of the Federal Reserve System. Source: OCC
  • Fiduciary agent: means a representative of an owner whose services provided to the owner include locating, delivering, recovering, or assisting in the recovery of property to the owner, and shall be limited to Louisiana licensed attorneys, certified public accountants, and financial advisors. See Louisiana Revised Statutes 9:153
  • Financial exploitation: means any of the following:

                (a) The wrongful or unauthorized taking, withholding, appropriation, or use of money, assets, beneficial ownership interest, or property of an eligible adult. See Louisiana Revised Statutes 6:1372

  • Financial institution: means a federally insured depository institution chartered pursuant to the laws of this state, another state, or the United States. See Louisiana Revised Statutes 6:1401
  • Foreign corporation: means a corporation formed under the laws of any state other than this state or under the laws of any foreign country. See Louisiana Revised Statutes 12:1301
  • Foreign limited liability company: means a limited liability company formed under the laws of any state other than this state. See Louisiana Revised Statutes 12:1301
  • Foreign limited partnership: means a limited partnership formed under the laws of any state other than this state or under the laws of any foreign country. See Louisiana Revised Statutes 12:1301
  • Foreign partnership: means a partnership formed under the laws of any state other than this state, or under the laws of any foreign country. See Louisiana Revised Statutes 12:1301
  • Governing body: means the board or body in which the bond issuing power of a governmental unit is vested. See Louisiana Revised Statutes 13:5121
  • Habeas corpus: A writ that is usually used to bring a prisoner before the court to determine the legality of his imprisonment. It may also be used to bring a person in custody before the court to give testimony, or to be prosecuted.
  • Holder: means a person obligated to hold for the account of, or deliver or pay to, the owner of property that is subject to this Chapter. See Louisiana Revised Statutes 9:153
  • Human remains: means the body of a deceased person and includes the body in any stage of decomposition, as well as cremated remains. See Louisiana Revised Statutes 8:1
  • Indictment: The formal charge issued by a grand jury stating that there is enough evidence that the defendant committed the crime to justify having a trial; it is used primarily for felonies.
  • Insolvent: means any of the following:

                (a) Having generally ceased to pay debts in the ordinary course of business other than as a result of a bona fide dispute. See Louisiana Revised Statutes 6:1382

  • institution-affiliated party: means :

    (1)  A director, officer, employee, agent, or controlling stockholder of a savings bank operating under this Chapter. See Louisiana Revised Statutes 6:1335

  • Insurance company: means an association, corporation, or fraternal or mutual benefit organization, whether or not for profit, engaged in the business of providing insurance including accident, burial, casualty, credit life, contract performance, dental, fidelity, fire, health, hospitalization, illness, life insurance, life endowments and annuities, malpractice, marine, mortgage, surety, and wage protection insurance. See Louisiana Revised Statutes 9:153
  • Intangible property: Property that has no intrinsic value, but is merely the evidence of value such as stock certificates, bonds, and promissory notes.
  • interest: means a member's rights in a limited liability company, collectively, including the member's share of the profits and losses of the limited liability company, the right to receive distributions of the limited liability company's assets, and any right to vote or participate in management. See Louisiana Revised Statutes 12:1301
  • Interment: means the disposition of human remains by inurnment, scattering, entombment, or burial in a place used or intended to be used, and dedicated, for cemetery purposes. See Louisiana Revised Statutes 8:1
  • Interrogatories: Written questions asked by one party of an opposing party, who must answer them in writing under oath; a discovery device in a lawsuit.
  • Inurnment: means placing cremated remains in an urn or other suitable container and placing it in a niche, crypt, or vault in a place used or intended to be used, and dedicated, for cemetery purposes. See Louisiana Revised Statutes 8:1
  • Juror: A person who is on the jury.
  • Lawsuit: A legal action started by a plaintiff against a defendant based on a complaint that the defendant failed to perform a legal duty, resulting in harm to the plaintiff.
  • Legacy: A gift of property made by will.
  • Legal tender: means a medium of exchange or unit of value, including the coin or paper money of the United States, issued by the United States or by another government if the issuance by another government is not virtual currency. See Louisiana Revised Statutes 6:1382
  • Legal tender: coins, dollar bills, or other currency issued by a government as official money. Source: U.S. Mint
  • Legatee: A beneficiary of a decedent
  • Licensee: means a person licensed pursuant to this Chapter. See Louisiana Revised Statutes 6:1382
  • Limited partnership: means a partnership in commendam formed under the laws of this state or a foreign limited partnership as defined in La. See Louisiana Revised Statutes 12:1301
  • managers: means a person or persons designated by the members of a limited liability company to manage the limited liability company as provided in its articles of organization. See Louisiana Revised Statutes 12:1301
  • Member: means a person with a membership interest in a limited liability company with the rights and obligations specified under this Chapter. See Louisiana Revised Statutes 12:1301
  • Member: shall include any employee, as defined in Paragraph (11) of this Section, included in the membership of this system as provided in La. See Louisiana Revised Statutes 11:2213
  • Mineral: means gas, oil, coal, other gaseous liquid and solid hydrocarbons, oil shale, cement material, sand and gravel, road material, building stone, chemical substance, gemstone, fissionable and nonfissionable ores, colloidal and other clay, steam and other geothermal resource, or any other substance defined as a mineral by the law of this state. See Louisiana Revised Statutes 9:153
  • Mineral proceeds: means amounts payable for the extraction, production, or sale of minerals, or, upon the abandonment of those payments, all payments that become payable thereafter. See Louisiana Revised Statutes 9:153
  • Mining: means the use of any machine or device to solve any series of complex mathematical equations, problems, or puzzles in binary or nonbinary sequences to add a block to any virtual currency network blockchain which is used to do any of the following:

                (a) Validate sales, exchanges, transfers, or ownership of virtual currency. See Louisiana Revised Statutes 6:1382

  • Minting: means the use of any machine or device to authenticate data, add any block, or record any information or data on any blockchain by either of the following:

                (a) Through any protocol. See Louisiana Revised Statutes 6:1382

  • Money order: includes an express money order and a personal money order, on which the remitter is the purchaser. See Louisiana Revised Statutes 9:153
  • Municipal cemetery: means a cemetery owned, operated, controlled, or managed by a municipality or other political subdivision of the state, or instrumentality thereof authorized by law to own, operate, or manage a cemetery. See Louisiana Revised Statutes 8:1
  • New entity: means the entity into which constituent entities consolidate, as identified in the agreement or certificate of consolidation provided for in La. See Louisiana Revised Statutes 12:1301
  • NMLS: means the multistate system developed by the Conference of State Bank Supervisors and the American Association of Residential Mortgage Regulators and owned and operated by the State Regulatory Registry LLC, or any successor or affiliated entity, for the licensing and registration of persons in financial services industries or any other similar online multistate database. See Louisiana Revised Statutes 6:1382
  • Nonconforming payment: means a payment made by a student loan borrower that is more or less than the required payment for a student education loan account. See Louisiana Revised Statutes 6:1411
  • Nonpublic school: means any nonprofit elementary or secondary school within the state of Louisiana or which may hereafter be established within the state of Louisiana, offering education to the children of this state in any grades from grades one through twelve, wherein a pupil may fulfill the requirements of the Compulsory School Attendance Law and is in compliance with the Civil Rights Acts of 1964. See Louisiana Revised Statutes 17:2990.2
  • Office: means the office of financial institutions. See Louisiana Revised Statutes 6:1382
  • Open-end credit: A credit agreement (typically a credit card) that allows a customer to borrow against a preapproved credit line when purchasing goods and services. The borrower is only billed for the amount that is actually borrowed plus any interest due. (Also called a charge account or revolving credit.) Source: OCC
  • Operating agreement: means any agreement, written or oral, of the members as to, or in the case of a limited liability company having a single member, any written agreement between the member and the company memorializing the affairs of a limited liability company and the conduct of its business. See Louisiana Revised Statutes 12:1301
  • Owner: means a person to whom the cemetery authority has transferred full title to or the right of use of or interment in any cemetery space and who appears as the title holder in the official records of the cemetery authority. See Louisiana Revised Statutes 8:1
  • Owner: means a person who has a legal or equitable interest in property subject to this Chapter or the person's legal representative. See Louisiana Revised Statutes 9:153
  • Partnership: means a partnership formed under the laws of this state or a foreign partnership as defined in La. See Louisiana Revised Statutes 12:1301
  • perpetual care: means the maintenance, repair, and care of all places where interments have been or are to be made, including the improvements made upon the places, in keeping with a well-maintained cemetery, and general overhead expense necessary for such purposes. See Louisiana Revised Statutes 8:1
  • Person: means an individual, corporation, limited liability company, partnership, joint venture, association, trust, or any other legal entity. See Louisiana Revised Statutes 8:1
  • Person: means an individual, general partnership, limited partnership, limited liability company, corporation, trust, association, joint stock corporation, or other legal entity, or any individual or group of individuals, however organized. See Louisiana Revised Statutes 6:1382
  • Person: means a natural person, corporation, partnership, limited partnership, domestic or foreign limited liability company, joint venture, trust including a common law trust, business trust, statutory trust, voting trust, or any other form of trust, estate, or association. See Louisiana Revised Statutes 12:1301
  • Person: means an individual, business association, estate, trust, partnership, government, governmental subdivision, agency, or instrumentality, public corporation, or any other legal or commercial entity. See Louisiana Revised Statutes 9:153
  • plot: means land in a cemetery used or intended to be used for the interment of human remains within a grave, mausoleum, lawn crypt, or columbarium. See Louisiana Revised Statutes 8:1
  • Power of attorney: A written instrument which authorizes one person to act as another's agent or attorney. The power of attorney may be for a definite, specific act, or it may be general in nature. The terms of the written power of attorney may specify when it will expire. If not, the power of attorney usually expires when the person granting it dies. Source: OCC
  • Practice of school counseling: means the rendering, offering to render, or supervising those who render to individuals or groups of pupils within the elementary, secondary, and postsecondary schools services involving the application of counseling procedures for learning how to solve problems and make decisions. See Louisiana Revised Statutes 17:3002
  • 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.
  • Prior service: shall mean service rendered prior to the enrollment of an employee into this retirement system, as a municipal policeman, as a member of the state police, or as a sheriff or deputy sheriff in Louisiana for which credit is not given in any other retirement system; provided that notwithstanding any provision of this Chapter that may be to the contrary, no credit whatsoever shall be given in this retirement system, whether as prior service or creditable service, for any out of state service, nor shall any credit for prior service be given to any person who becomes a member after July 31, 1976, except that any person employed by any municipality and is required to pay social security contributions for such employment by the United States Department of Health, Education, and Welfare shall receive prior service credit provided he becomes a member of this retirement system prior to January 1, 1977. See Louisiana Revised Statutes 11:2213
  • Probate: Proving a will
  • property: means immovable property, including servitudes and other rights in or to immovable property. See Louisiana Revised Statutes 19:1
  • property: means immovable property, including servitudes and other rights in or to immovable property, and any electric light, gas or waterworks plants. See Louisiana Revised Statutes 19:101
  • property: means any portion of immovable property, including servitudes and other rights in or to immovable property, where there are no buildings or structures for support or shelter. See Louisiana Revised Statutes 19:121
  • Property: means a fixed and certain interest in intangible property that is held, issued, or owed in the course of a holder's business, or by a government or governmental entity, and all income or increments therefrom. See Louisiana Revised Statutes 9:153
  • Record: means information that is inscribed on a tangible medium or that is stored in an electronic or other medium and is retrievable in perceivable form. See Louisiana Revised Statutes 9:153
  • Regulated financial institution: means a federally insured depository institution and its wholly owned subsidiaries chartered pursuant to the laws of this state, another state, or the United States, a Louisiana state-chartered trust company, a trust company chartered by another state, or a federally chartered trust company. See Louisiana Revised Statutes 6:1382
  • Reporter: Makes a record of court proceedings and prepares a transcript, and also publishes the court's opinions or decisions (in the courts of appeals).
  • Resident: means any of the following:

                (i) A person who is domiciled in this state. See Louisiana Revised Statutes 6:1382

  • Responsible individual: means any individual who is ultimately responsible for establishing or directing policies and procedures of the licensee, including but not limited to an executive officer, manager, director, or trustee. See Louisiana Revised Statutes 6:1382
  • Retirement: shall mean withdrawal from active service with a retirement allowance granted under the provisions of this Chapter. See Louisiana Revised Statutes 11:2213
  • Sale: means the sale of the full title to any cemetery space or the sale of the right of use of or interment in any cemetery space. See Louisiana Revised Statutes 8:1
  • School counselor: is a member of the school faculty who by training and background is qualified to engage in educational and vocational counseling and advisement. See Louisiana Revised Statutes 17:3002
  • Self-assessment: means either of the following:

                (a) A financial institution's or trust company's voluntary, self-initiated internal assessment, audit, or review of the financial institution or trust company and its practices, policies, and procedures. See Louisiana Revised Statutes 6:1401

  • Service: shall mean service rendered as an employee as described in Paragraph (11) of this Section. See Louisiana Revised Statutes 11:2213
  • servicing: means :

                (a) Receiving any scheduled periodic payments from a student loan borrower or notification of such payments and applying payments to the student loan borrower's account pursuant to the terms of the student education loan or a governing contract. See Louisiana Revised Statutes 6:1411

  • Special Schools: includes all Louisiana special schools and all schools or educational programs in Special School Programs operated by the Special School District. See Louisiana Revised Statutes 17:43
  • State: means a state of the United States, the District of Columbia, Puerto Rico, the United States Virgin Islands, or any territory or insular possession subject to the jurisdiction of the United States. See Louisiana Revised Statutes 6:1382
  • State: means a state, territory, or possession of the United States, the District of Columbia, or the Commonwealth of Puerto Rico. See Louisiana Revised Statutes 12:1301
  • State: means a state of the United States, the District of Columbia, the Commonwealth of Puerto Rico, or any territory or insular possession subject to the jurisdiction of the United States. See Louisiana Revised Statutes 9:153
  • Statute of limitations: A law that sets the time within which parties must take action to enforce their rights.
  • store of value: means to maintain control of virtual currency on behalf of a resident by a person other than the resident. See Louisiana Revised Statutes 6:1382
  • student: means any child or children between the ages of six and fifteen whose attendance at a public or private day school is required by La. See Louisiana Revised Statutes 17:2990.2
  • Student education loan: means any of the following:

                (i) A loan that is made, insured, or guaranteed under Title IV of the Higher Education Act of 1965, as amended. See Louisiana Revised Statutes 6:1411

  • Student loan borrower: means a resident of this state who meets either of the following criteria:

                (a) Has received or agreed to pay a student education loan. See Louisiana Revised Statutes 6:1411

  • Student loan servicer: means a person or entity who is engaged in the business of servicing a student education loan owed by a student loan borrower. See Louisiana Revised Statutes 6:1411
  • Subpoena duces tecum: A command to a witness to produce documents.
  • Surviving entity: means the constituent entity surviving a merger, as identified in the agreement or certificate of merger provided for in La. See Louisiana Revised Statutes 12:1301
  • system: shall mean the Municipal Police Employees' Retirement System as established in La. See Louisiana Revised Statutes 11:2213
  • Tangible net worth: means all business assets minus liabilities and intangible assets, including goodwill and other intangible assets. See Louisiana Revised Statutes 6:1382
  • taxidermist: means a person who, for a consideration, mounts, preserves, or otherwise prepares the body of any bird, animal, or fish, or any part thereof, for display. See Louisiana Revised Statutes 9:191
  • teacher: shall include any member of the teaching staff of a public school in the state and any social worker or school psychologist employed by a local school board in the state who holds a valid professional ancillary certificate in school social work or school psychology issued by the state Department of Education. See Louisiana Revised Statutes 17:1211
  • teaching staff: shall include any social worker, school counselor, school nurse, audiologist, educational diagnostician, speech-language pathologist, or school psychologist employed by a special school who holds the appropriate valid professional ancillary certificate issued by the state Department of Education and who has served in the Special School District for the number of years required for probationary teachers to attain tenure. See Louisiana Revised Statutes 17:46
  • teaching staff: shall include any person employed by a city, parish, or other local public school board in the state of Louisiana who holds a valid teaching certificate issued by the state Department of Education and any social worker, school counselor, school nurse, audiologist, educational diagnostician, speech-language pathologist, or school psychologist employed by a city, parish, or other local public school board in the state who holds the appropriate valid professional ancillary certificate issued by the state Department of Education. See Louisiana Revised Statutes 17:1170
  • teaching staff: shall include any member of the teaching staff of a public school in the state of Louisiana and any social worker, school counselor, or school psychologist employed by a city, parish, or other local public school board in the state who holds, as applicable, a valid professional ancillary certificate in school social work, school counseling, or school psychology issued by the state Department of Education. See Louisiana Revised Statutes 17:1200
  • Temporary restraining order: Prohibits a person from an action that is likely to cause irreparable harm. This differs from an injunction in that it may be granted immediately, without notice to the opposing party, and without a hearing. It is intended to last only until a hearing can be held.
  • Total annual income: means the total amount actually earned in the tax year as reflected in the federal or state income tax return. See Louisiana Revised Statutes 17:2990.2
  • Transcript: A written, word-for-word record of what was said, either in a proceeding such as a trial or during some other conversation, as in a transcript of a hearing or oral deposition.
  • Transfer: means to assume control of virtual currency from, or on behalf of, a resident and do any of the following:

                (a) Credit the virtual currency to the account of another person. See Louisiana Revised Statutes 6:1382

  • Trial jury: A group of citizens who hear the evidence presented by both sides at trial and determine the facts in dispute. Federal criminal juries consist of 12 persons. Federal civil juries consist of six persons.
  • Trust company: means a corporation or a limited liability trust company organized in accordance with this Title, the laws of another state, or pursuant to the laws of the United States, including a trust company organized pursuant to the laws of this state before June 27, 2003, or an entity chartered to act as a fiduciary that is neither a depository institution nor a foreign bank. See Louisiana Revised Statutes 6:1401
  • United States dollar equivalent of virtual currency: means the equivalent value of a particular virtual currency in United States dollars shown on a virtual currency exchange based in the United States for a particular date or period specified in this Chapter. See Louisiana Revised Statutes 6:1382
  • Unsafe or unsound act or practice: means and includes but is not limited to a practice or conduct by a person licensed to engage in virtual currency business activity in the state which creates the likelihood of material loss, insolvency, dissipation of the licensee's assets that materially prejudices the interests of residents, and any other set of facts and circumstances, as determined by the commissioner in accordance with this Chapter and applicable law. See Louisiana Revised Statutes 6:1382
  • User fees: Fees charged to users of goods or services provided by the government. In levying or authorizing these fees, the legislature determines whether the revenue should go into the treasury or should be available to the agency providing the goods or services.
  • Utility: means a person who owns or operates for public use any plant, equipment, real property, franchise, or license for the transmission of communications or the production, storage, transmission, sale, delivery, or furnishing of electricity, water, steam, or gas. See Louisiana Revised Statutes 9:153
  • Verdict: The decision of a petit jury or a judge.
  • Virtual currency: means a digital representation of value that is used as a medium of exchange, unit of account, or store of value, and that is not legal tender, whether or not denominated in legal tender. See Louisiana Revised Statutes 6:1382
  • Virtual currency administration: means issuing virtual currency with the authority to redeem the currency for legal tender, bank credit, or other virtual currency. See Louisiana Revised Statutes 6:1382
  • Virtual currency business activity: means any of the following:

                (a) Exchanging, transferring, or storing virtual currency or engaging in virtual currency administration, whether directly or through an agreement with a virtual currency control services vendor. See Louisiana Revised Statutes 6:1382

  • Virtual currency control services vendor: means a person that has control of virtual currency solely under an agreement with a person that, on behalf of another person, assumes control of virtual currency. See Louisiana Revised Statutes 6:1382
  • Virtual currency network: means any computer or operator having access to a ledger of exchange, sale, or transfer of one or more virtual currencies. See Louisiana Revised Statutes 6:1382
  • Vocational-technical school: means any vocational-technical school under the jurisdiction of the Board of Supervisors of Community and Technical Colleges. See Louisiana Revised Statutes 17:540
  • Writ: A formal written command, issued from the court, requiring the performance of a specific act.
  • Writ of certiorari: An order issued by the Supreme Court directing the lower court to transmit records for a case for which it will hear on appeal.