Sections
Part I Electric Cooperatives 12:401 – 12:430.2
Part II Sea Food Marketing Associations 12:441 – 12:471
Part III Orthodox Churches 12:481 – 12:483
Part IV Real Estate Investment Trusts 12:491 – 12:493
Part V Cooperative Housing Corporations 12:499.1 – 12:499.13

Terms Used In Louisiana Revised Statutes > Title 12 > Chapter 4 - Special Corporations

  • Accumulated contributions: shall mean the sum of all the amounts deducted from the compensation of a member and credited to his individual account in the annuity savings fund together with regular interest thereon as provided in La. See Louisiana Revised Statutes 11:2213
  • Adjourn: A motion to adjourn a legislative chamber or a committee, if passed, ends that day's session.
  • Administrator: means any person, except an employee of an administrator, who directly or indirectly solicits or effects coverage of, underwrites, collects charges or premiums from, or adjusts or settles claims on residents of this state in connection with debt waiver or debt forgiveness agreements. See Louisiana Revised Statutes 6:969.6
  • Advice and consent: Under the Constitution, presidential nominations for executive and judicial posts take effect only when confirmed by the Senate, and international treaties become effective only when the Senate approves them by a two-thirds vote.
  • Affirmed: In the practice of the appellate courts, the decree or order is declared valid and will stand as rendered in the lower court.
  • agent: means any person licensed by the commission whose duties include the sale of a debt waiver or debt forgiveness agreement on behalf of the administrator. See Louisiana Revised Statutes 6:969.6
  • Aggrieved person: means a person who was party to any intercepted wire or oral communication or a person against whom the interception was directed. See Louisiana Revised Statutes 15:1302
  • 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.
  • Amortization: Paying off a loan by regular installments.
  • Annual percentage rate: The cost of credit at a yearly rate. It is calculated in a standard way, taking the average compound interest rate over the term of the loan so borrowers can compare loans. Lenders are required by law to disclose a card account's APR. Source: FDIC
  • 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.
  • Annuity reserve: shall mean the present value of all payments to be made on account of any annuity, or benefit in lieu of any annuity, computed upon the basis of such mortality tables as shall be adopted by the board of trustees, and regular interest. See Louisiana Revised Statutes 11:2213
  • Appeal: A request made after a trial, asking another court (usually the court of appeals) to decide whether the trial was conducted properly. To make such a request is "to appeal" or "to take an appeal." One who appeals is called the appellant.
  • Appellate: About appeals; an appellate court has the power to review the judgement of another lower court or tribunal.
  • Appraisal: A determination of property value.
  • Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
  • Arrest: Taking physical custody of a person by lawful authority.
  • articles of incorporation: as used in this Part shall be deemed to include the articles of conversion of a converted corporation. See Louisiana Revised Statutes 12:416
  • articles of incorporation: as used in this Chapter shall be deemed to include the articles of conversion of a converted corporation. See Louisiana Revised Statutes 17:2817
  • Association: means a savings association, thrift institution, homestead, building and loan association, savings and loan association, or society, including both capital stock and mutual associations. See Louisiana Revised Statutes 6:703
  • Association: means an association organized under this Part. See Louisiana Revised Statutes 12:443
  • Attachment: A procedure by which a person's property is seized to pay judgments levied by the court.
  • Aural transfer: means a transfer containing the human voice at any point between and including the point of origin and the point of reception. See Louisiana Revised Statutes 15:1302
  • 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
  • Bail: Security given for the release of a criminal defendant or witness from legal custody (usually in the form of money) to secure his/her appearance on the day and time appointed.
  • Baseline: Projection of the receipts, outlays, and other budget amounts that would ensue in the future without any change in existing policy. Baseline projections are used to gauge the extent to which proposed legislation, if enacted into law, would alter current spending and revenue levels.
  • 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: shall mean the board provided for in La. See Louisiana Revised Statutes 11:2213
  • Broadband affiliate: means any entity that meets all of the following criteria:

                (a) Is wholly or partially owned by a cooperative. See Louisiana Revised Statutes 12:430.1

  • Broadband operator: means a broadband service provider that owns or operates a broadband system on a cooperative's electric delivery system with the cooperative's consent. See Louisiana Revised Statutes 12:430.1
  • Broadband service provider: means an entity that provides broadband services to another on a wholesale basis or to an end-use customer on a retail basis. See Louisiana Revised Statutes 12:430.1
  • Broadband services: means any service, using any equipment or technology, including wireline or fixed wireless broadband internet service, that consists of or includes the provision of or connectivity to a high-speed, high-capacity transmission medium meeting the Federal Communications Commission's benchmark of at least twenty-five megabits per second download and three megabits per second upload, or any subsequent benchmark determined by the Federal Communications Commission, that can carry signals from or to multiple sources and that does either of the following:

                (a) Is used to provide access to the internet. See Louisiana Revised Statutes 12:430.1

  • Broadband system: means a facility used to deliver broadband internet access service as defined in 47 C. See Louisiana Revised Statutes 12:430.1
  • Cellular tracking device: means a device that transmits or receives radio waves to or from a communications device in a manner that interferes with the normal functioning of the communications device or communications network and that can be used to intercept, collect, access, transfer, or forward the data transmitted or received by the communications device, or stored on the communications device; includes an international mobile subscriber identity (IMSI) catcher or other cell phone or telephone surveillance or eavesdropping device that mimics a cellular base station and transmits radio waves that cause cell phones or other communications devices in the area to transmit or receive radio waves, electronic data, location data, information used to calculate location, identifying information, communications content, or metadata, or otherwise obtains this information through passive means, such as through the use of a digital analyzer or other passive interception device; and does not include any device used or installed by an electric utility solely to the extent such device is used by that utility to measure electrical usage, to provide services to customers, or to operate the electric grid. See Louisiana Revised Statutes 15:1302
  • Chambers: A judge's office.
  • Commission: means the Louisiana Motor Vehicle Commission. See Louisiana Revised Statutes 6:969.6
  • Commissioner: means the commissioner of the office of financial institutions. See Louisiana Revised Statutes 6:1083
  • communication by wire: means any aural transfer made in whole or in part through the use of facilities used for the transmission of communications by aid of wire, cable, or other like connection between the points of origin and reception, including the use of such connection in a switching station, furnished or operated by any person licensed to engage in providing or operating such facilities for the transmission of communications and such term includes any electronic storage of such communication, and such term includes the radio portion of a cordless, portable, or cellular telephone communication that is transmitted between the cordless, portable, or cellular handset and the base or transmitting tower or unit. See Louisiana Revised Statutes 15:1302
  • Communications common carrier: means any person engaged as a common carrier for hire in communication by wire, radio, or electronic communications; however, a person engaged in commercial radio broadcasting which is supervised by the Federal Communications Commission shall not, insofar as such person is so engaged, be deemed a common carrier. See Louisiana Revised Statutes 15:1302
  • communications device: means any type of instrument, device, or machine that is capable of transmitting or receiving telephonic, electronic, radio, text, or data communications, including but not limited to a cellular telephone, a text-messaging device, a personal digital assistant, a computer, or any other similar wireless device that is designed to engage in a call or communicate text or data. See Louisiana Revised Statutes 15:1302
  • Consumer: means a natural person who enters into a consumer loan or consumer credit sale of a motor vehicle to be used primarily for personal, family, or household purposes. See Louisiana Revised Statutes 6:969.6
  • Consumer: means a natural person who enters into or seeks to enter into a residential loan transaction for a personal, family, or household purpose. See Louisiana Revised Statutes 6:1083
  • Consumer credit sale: means the sale of a motor vehicle on credit under which the seller acquires a purchase money security interest in the purchased vehicle, and incident to which a credit service charge is charged and the consumer is permitted to defer all or part of the purchase price or other consideration in two or more installments excluding the down payment. See Louisiana Revised Statutes 6:969.6
  • Consumer loan: means a loan of money or its equivalent made by a lender, the proceeds of which are used by the consumer to purchase or refinance the purchase of a motor vehicle, or which proceeds are used for personal, family, or household purposes, including debts created by the use of a lender credit card, revolving loan account, or similar arrangement, as well as insurance premium financing, with the lender acquiring a purchase money security interest in the purchased motor vehicle. See Louisiana Revised Statutes 6:969.6
  • Contents: when used with respect to any wire, electronic, or oral communication includes any information concerning the substance, purport, or meaning of that communication. See Louisiana Revised Statutes 15:1302
  • Contract: means the consumer's retail installment contract, note, agreement, or other evidence of indebtedness executed in connection with a motor vehicle credit transaction. See Louisiana Revised Statutes 6:969.6
  • Conventional reverse mortgage loan: means a reverse mortgage loan other than a program reverse mortgage loan. See Louisiana Revised Statutes 6:1083
  • Cooperative: means a corporation organized under this Part and a corporation which becomes subject to this Part in the manner hereinafter provided. See Louisiana Revised Statutes 12:402
  • Cooperative: means a corporation organized under this Chapter and a corporation which becomes subject to this Chapter in the manner provided in this Chapter. See Louisiana Revised Statutes 17:2803
  • Court of competent jurisdiction: means state district courts of general criminal jurisdiction and those courts exercising appellate jurisdiction thereof. See Louisiana Revised Statutes 15:1302
  • Credit service charge: means the sum of the following:

    (i)  All charges payable directly or indirectly by the consumer and imposed directly or indirectly by the seller as a requirement of the extension of credit, including any of the following types of charges that are applicable: interest; time price differential; service; carrying or other charge, however denominated; points and discount fees; and premium or other charge for any guarantee or insurance protecting the extender of credit against the consumer's default or other credit loss. See Louisiana Revised Statutes 6:969.6

  • creditor: means a seller in a consumer credit sale, or a lender in a consumer loan. See Louisiana Revised Statutes 6:969.6
  • Cross examine: Questioning of a witness by the attorney for the other side.
  • Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
  • debt forgiveness: is a n agreement whereby an extender of credit agrees with the consumer to waive any unpaid balance on a consumer loan, consumer credit sale or lease due to physical damage, total loss or constructive loss or unrecovered theft to the covered collateral secured by an eligible security device. See Louisiana Revised Statutes 6:969.6
  • Decedent: A deceased person.
  • Deed: The legal instrument used to transfer title in real property from one person to another.
  • Default: means nonpayment of two consecutive payments on the date due. See Louisiana Revised Statutes 6:965
  • Defendant: In a civil suit, the person complained against; in a criminal case, the person accused of the crime.
  • Department: means the Department of Agriculture and Forestry. See Louisiana Revised Statutes 3:1
  • Dependent: A person dependent for support upon another.
  • Diminution in value: means an existent reduction of twenty percent or more of the fair market value or the economically viable use of, as determined by a qualified appraisal expert, the affected portion of any parcel of private agricultural property or the property rights thereto for agricultural purposes, as a consequence of any regulation, rule, policy, or guideline promulgated for or by any governmental entity. See Louisiana Revised Statutes 3:3602
  • disciplinary action: shall include only suspension without pay, reduction in pay, or involuntary demotion or dismissal. See Louisiana Revised Statutes 17:441
  • Docket: A log containing brief entries of court proceedings.
  • Donor: The person who makes a gift.
  • Earnable compensation: shall mean the full amount of compensation earned by an employee for a given month, including supplemental pay paid by the state of Louisiana, but shall not include overtime. See Louisiana Revised Statutes 11:2213
  • Electric delivery system: means the poles, lines, materials, equipment, servitudes, and other facilities or properties used by a cooperative. See Louisiana Revised Statutes 12:430.1
  • Electronic communication: means any transfer of signs, signals, writings, images, sounds, data, or intelligence of any nature transmitted in whole or in part by a wire, radio, electromagnetic, photoelectronic, or photo-optical system, but does not include any of the following:

                (i) Any oral communication. See Louisiana Revised Statutes 15:1302

  • Electronic communications service: means any service which provides to users thereof the ability to send or receive wire or electronic communications. See Louisiana Revised Statutes 15:1302
  • Electronic funds transfer: The transfer of money between accounts by consumer electronic systems-such as automated teller machines (ATMs) and electronic payment of bills-rather than by check or cash. (Wire transfers, checks, drafts, and paper instruments do not fall into this category.) Source: OCC
  • 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

  • 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.
  • Equitable: Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy. See damages. A separate court of "equity" could order someone to do something or to cease to do something. See, e.g., injunction. In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases. Source: U.S. Courts
  • Escrow: Money given to a third party to be held for payment until certain conditions are met.
  • Executive session: A portion of the Senate's daily session in which it considers executive business.
  • Executor: A male person named in a will to carry out the decedent
  • Extradition: The formal process of delivering an accused or convicted person from authorities in one state to authorities in another state.
  • Fair Credit Reporting Act: A federal law, established in 1971 and revised in 1997, that gives consumers the right to see their credit records and correct any mistakes. Source: OCC
  • Fair market value: The price at which an asset would change hands in a transaction between a willing, informed buyer and a willing, informed seller.
  • Federal Reserve System: The central bank of the United States. The Fed, as it is commonly called, regulates the U.S. monetary and financial system. The Federal Reserve System is composed of a central governmental agency in Washington, D.C. (the Board of Governors) and twelve regional Federal Reserve Banks in major cities throughout the United States. Source: OCC
  • Federally related mortgage loan: means an extension of credit to a consumer secured by a first mortgage on residential immovable property located in this state, including:  a mobile home which will be immobilized pursuant to La. See Louisiana Revised Statutes 6:1083
  • Finance charge: The total cost of credit a customer must pay on a consumer loan, including interest. The Truth in Lending Act requires disclosure of the finance charge. Source: OCC
  • Forest land: means any land in the state devoted to the growing of trees or the commercial production of timber, wood, or forest products that is located outside the corporate limits of any municipality. See Louisiana Revised Statutes 3:3622
  • Garnishment: Generally, garnishment is a court proceeding in which a creditor asks a court to order a third party who owes money to the debtor or otherwise holds assets belonging to the debtor to turn over to the creditor any of the debtor
  • Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
  • Governmental action: means annexation of territory by a governmental entity or the issuance of a rule, regulation, policy, or guideline promulgated for or by any governmental entity, or an order or other legally binding directive having the force of law or capable of being enforced by government which prohibits or limits the right of an owner to conduct forestry activities on forestry land. See Louisiana Revised Statutes 3:3622
  • Governmental entity: means :

    (a)  A board, authority, commission, department, office, or agency of the state government. See Louisiana Revised Statutes 3:3622

  • Grand jury: agreement providing that a lender will delay exercising its rights (in the case of a mortgage,
  • Guarantor: A party who agrees to be responsible for the payment of another party's debts should that party default. Source: OCC
  • Guardian: A person legally empowered and charged with the duty of taking care of and managing the property of another person who because of age, intellect, or health, is incapable of managing his (her) own affairs.
  • 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.
  • Indemnification: In general, a collateral contract or assurance under which one person agrees to secure another person against either anticipated financial losses or potential adverse legal consequences. Source: FDIC
  • Injunction: An order of the court prohibiting (or compelling) the performance of a specific act to prevent irreparable damage or injury.
  • Insurer: means an insurance company licensed, registered, or otherwise authorized to do business under the insurance laws of this state. See Louisiana Revised Statutes 6:969.6
  • Intercept: means the aural or other acquisition of the contents of any wire, oral, or electronic communication through the use of any electronic, mechanical, or other device. See Louisiana Revised Statutes 15:1302
  • 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
  • Investigative or law enforcement officer: means any commissioned state police officer of the Department of Public Safety and Corrections who, in the normal course of his law enforcement duties, is investigating an offense enumerated in this Chapter, and the district attorney authorized by law to prosecute or participate in the prosecution of such offense. See Louisiana Revised Statutes 15:1302
  • Judge: means the senior judge of a judicial district court of the state, any judge of the Orleans Parish Criminal District Court, or a judge designated by a majority vote of the court in writing in advance to consider applications for warrants or orders under this Chapter. See Louisiana Revised Statutes 15:1302
  • 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.
  • Legatee: A beneficiary of a decedent
  • Legislative session: That part of a chamber's daily session in which it considers legislative business (bills, resolutions, and actions related thereto).
  • Lender: means the originator of credit under a consumer loan, as well as any assignee or transferee of the consumer's contract. See Louisiana Revised Statutes 6:969.6
  • Lien: A claim against real or personal property in satisfaction of a debt.
  • Litigation: A case, controversy, or lawsuit. Participants (plaintiffs and defendants) in lawsuits are called litigants.
  • Loan finance charge: means the sum of the following:

    (i)  All charges payable directly or indirectly by the consumer and imposed directly or indirectly by the lender as a requirement of the extension of credit, including any of the following types of charges that are applicable:  interest, and any amount payable under a point, discount, or other system of charges, however denominated. See Louisiana Revised Statutes 6:969.6

  • Member: means each incorporator of a cooperative and each person admitted to and retaining membership therein, and shall include a husband and wife admitted to joint membership. See Louisiana Revised Statutes 12:402
  • Member: means an actual member of an association without capital stock and the holder of common stock in an association organized with capital stock. See Louisiana Revised Statutes 12:443
  • 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
  • Member: means each incorporator of a cooperative and each person admitted to and retaining membership therein, and shall include a husband and wife admitted to joint membership. See Louisiana Revised Statutes 17:2803
  • Mortgage loan: A loan made by a lender to a borrower for the financing of real property. Source: OCC
  • Mortgage loan originator: means an individual who for compensation or gain or with the expectation of compensation or gain takes a residential mortgage loan application or offers or negotiates terms of a residential mortgage loan. See Louisiana Revised Statutes 6:1083
  • Mortgagor: The person who pledges property to a creditor as collateral for a loan and who receives the money.
  • Motor vehicle: means any new or used transportation device, including automobiles, motorcycles, trucks, and other vehicles that are operated over the public highways and the streets of this state, but does not include traction engines, boat trailers, road rollers, implements of husbandry, and other agricultural vehicles. See Louisiana Revised Statutes 6:969.6
  • Motor vehicle credit transaction: means a consumer loan or a consumer credit sale involving a Louisiana consumer, or that is otherwise made subject to this Chapter. See Louisiana Revised Statutes 6:969.6
  • National Credit Union Administration: The federal regulatory agency that charters and supervises federal credit unions. (NCUA also administers the National Credit Union Share Insurance Fund, which insures the deposits of federal credit unions.) Source: OCC
  • Oral communication: means any oral communication uttered by a person exhibiting an expectation that such communication is not subject to interception under circumstances justifying such expectation, but such term does not include any electronic communication. See Louisiana Revised Statutes 15:1302
  • Owner: means a person owning an interest in forest land at the time a governmental action becomes effective as to the forest land in which the owner owns an interest. See Louisiana Revised Statutes 3:3622
  • Pen register: means a device which records and decodes dialing, routing, addressing, or signaling information transmitted by an instrument or facility from which a wire or electronic communication is transmitted, if the information does not include the contents of the communication. See Louisiana Revised Statutes 15:1302
  • Person: includes any natural person, firm, association, corporation, business trust, partnership, federal agency, state or political subdivision or agency thereof, or any body politic. See Louisiana Revised Statutes 12:402
  • Person: includes individuals, firms, partnerships, corporations, and associations. See Louisiana Revised Statutes 12:443
  • Person: includes any natural person, firm, association, corporation, business trust, partnership, state or political subdivision or agency thereof, or any body politic. See Louisiana Revised Statutes 17:2803
  • Person: means any employee or agent of the state or a political subdivision thereof, and any individual, partnership, association, joint stock company, trust, or corporation. See Louisiana Revised Statutes 15:1302
  • Person: means an individual or corporation, partnership, limited liability company, trust, association, joint venture pool, syndicate, sole proprietorship, unincorporated organization, or any other form of entity not specifically listed herein. See Louisiana Revised Statutes 6:969.6
  • Person: means any individual, firm, corporation, partnership, association, trust, or legal or commercial entity, or other group of individuals however organized. See Louisiana Revised Statutes 6:1083
  • 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
  • Personal property: All property that is not real property.
  • Plaintiff: The person who files the complaint in a civil lawsuit.
  • Political subdivision: means a parish, municipality, and any other unit of local government, including a school board and a special district, authorized by law to perform governmental functions. See Louisiana Revised Statutes 18:581
  • 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.
  • Principal stockholder: means any person owning ten percent or more of the outstanding stock of a corporate mortgage broker or mortgage lender. See Louisiana Revised Statutes 6:1083
  • Probable cause: A reasonable ground for belief that the offender violated a specific law.
  • Probation: A sentencing alternative to imprisonment in which the court releases convicted defendants under supervision as long as certain conditions are observed.
  • Prohibits or limits: means an existent reduction of twenty percent or more of the fair market value of forest land, or any portion thereof, or property rights thereto associated with conducting forestry activities on forest land before the action. See Louisiana Revised Statutes 3:3622
  • Prosecute: To charge someone with a crime. A prosecutor tries a criminal case on behalf of the government.
  • Quorum: The number of legislators that must be present to do business.
  • Recess: A temporary interruption of the legislative business.
  • Registered mortgage loan originator: means any individual who meets the definition of mortgage loan originator and is an employee of a depository institution or a subsidiary that is either owned and controlled by a depository institution and regulated by a federal banking agency or an institution regulated by the Farm Credit Administration and is registered with, and maintains a unique identifier through, the Nationwide Mortgage Licensing System and Registry. See Louisiana Revised Statutes 6:1083
  • Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.
  • Rescission: The cancellation of budget authority previously provided by Congress. The Impoundment Control Act of 1974 specifies that the President may propose to Congress that funds be rescinded. If both Houses have not approved a rescission proposal (by passing legislation) within 45 days of continuous session, any funds being withheld must be made available for obligation.
  • Residential immovable property: means any immovable property located in this state upon which is constructed or intended to be constructed a dwelling. See Louisiana Revised Statutes 6:1083
  • Residential loan transaction: means any agreement by a consumer with a mortgage broker, mortgage loan originator, mortgage loan servicer, or mortgage lender in connection with a residential mortgage loan. See Louisiana Revised Statutes 6:1083
  • residential mortgage broker: means any person who, directly or indirectly, for compensation or the expectation of compensation, negotiates, places, or finds, or offers to negotiate, place, or find a residential mortgage loan for another person. See Louisiana Revised Statutes 6:1083
  • residential mortgage lender: means any person who, directly or indirectly, originates or makes, or offers to originate or make, a residential mortgage loan for another person. See Louisiana Revised Statutes 6:1083
  • Residential mortgage lending activity: means an activity, including electronic activity, engaged in for compensation or with the expectation of compensation in connection with a residential loan transaction, including the origination or funding of a residential mortgage loan and the negotiation and placement, or offering to negotiate, place, or fund a residential mortgage loan for another person, or servicing a mortgage loan. See Louisiana Revised Statutes 6:1083
  • Residential mortgage loan: means any loan primarily for personal, family, or household use that is secured by a mortgage, deed of trust, or other equivalent consensual security interest on a dwelling as defined in 15 U. See Louisiana Revised Statutes 6:1083
  • Retirement: shall mean withdrawal from active service with a retirement allowance granted under the provisions of this Chapter. See Louisiana Revised Statutes 11:2213
  • Reverse mortgage loan: means a nonrecourse loan secured by immovable property that meets all of the following criteria:

    (a)  The loan provides purchase money proceeds for the acquisition by a borrower of a domicile to be inhabited by the borrower as his principal domicile or cash advances to a borrower based on the equity or the value in a borrower's inhabited principal domicile. See Louisiana Revised Statutes 6:1083

  • Revolving 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 open-end credit.) Source: OCC
  • Risk is imminent: means that the available facts, when viewed in light of surrounding circumstances, would cause a reasonable person to believe that the event stated in the threat is about to happen. See Louisiana Revised Statutes 17:409.2
  • Sea food products: include shrimp, clams, fish, crabs, lobsters, and all other sea foods, as well as all by-products of sea foods. See Louisiana Revised Statutes 12:443
  • Seller: means the seller of a motor vehicle, including the seller of a motor vehicle under a consumer credit sale, as well as any assignee or transferee of the consumer's contract. See Louisiana Revised Statutes 6:969.6
  • Service: shall mean service rendered as an employee as described in Paragraph (11) of this Section. See Louisiana Revised Statutes 11:2213
  • Service of process: The service of writs or summonses to the appropriate party.
  • Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
  • Skins and furs: include all the skins and furs of all quadrupeds valuable for their skins or furs, including but not limited to alligators, minks, otter, muskrats, beaver, raccoons, opossums, weasels, spotted skunks, or "civet cats". See Louisiana Revised Statutes 12:443
  • State: means any state of the United States, the District of Columbia, or any territory of the United States including Puerto Rico, Guam, American Samoa, the Trust Territory of the Pacific Islands, the Virgin Islands, and the Northern Mariana Islands. See Louisiana Revised Statutes 6:1083
  • Student: means any person registered or enrolled at a school. See Louisiana Revised Statutes 17:409.2
  • Subpoena duces tecum: A command to a witness to produce documents.
  • Supervised financial organization: means a banking, thrift, or similar organization organized, certified, and supervised by an agency of the United States of America, the state of Louisiana, or any other state pursuant to the banking, currency, and related laws of the United States of America, the state of Louisiana, or any other state. See Louisiana Revised Statutes 6:969.6
  • system: shall mean the Municipal Police Employees' Retirement System as established in La. See Louisiana Revised Statutes 11:2213
  • Teacher: means :

                (a) Any employee of a local public school board, state special school, or a school or program administered by the special school district who holds a teacher's certificate and whose legal employment requires such teacher's certificate. See Louisiana Revised Statutes 17:441

  • 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.
  • Testify: Answer questions in court.
  • Threat is credible: means that the available facts, when viewed in light of surrounding circumstances, would cause a reasonable person to believe that the person communicating the threat actually intends to carry out the threat. See Louisiana Revised Statutes 17:409.2
  • Threat of terrorism: means communication, whether oral, visual, or written, including but not limited to electronic mail, letters, notes, social media posts, text messages, blogs, or posts on any social networking website, of any crime of violence that would reasonably cause any student, teacher, principal, or school employee to be in sustained fear for his safety, cause the evacuation of a building, or cause other serious disruption to the operation of a school. See Louisiana Revised Statutes 17:409.2
  • Threat of violence: means communication, whether oral, visual, or written, including but not limited to electronic mail, letters, notes, social media posts, text messages, blogs, or posts on any social networking website, of any intent to kill, maim, or cause great bodily harm to a student, teacher, principal, or school employee on school property or at any school function. See Louisiana Revised Statutes 17:409.2
  • Trap and trace device: means a device or electronic means which captures the incoming electronic or other impulses which identify the originating number of an instrument or device from which a wire or electronic communication was transmitted, except that it shall not include a service, device, or electronic means tariffed by the Louisiana Public Service Commission, used by a subscriber of telecommunicational services to receive the telephone numbers for calls placed to the subscriber. See Louisiana Revised Statutes 15:1302
  • Trial: A hearing that takes place when the defendant pleads "not guilty" and witnesses are required to come to court to give evidence.
  • Trust account: A general term that covers all types of accounts in a trust department, such as estates, guardianships, and agencies. Source: OCC
  • Truth in Lending Act: The Truth in Lending Act is a federal law that requires lenders to provide standardized information so that borrowers can compare loan terms. In general, lenders must provide information on Source: OCC
  • Unique identifier: means a number or other identifier assigned by protocols established by the Nationwide Mortgage Licensing System and Registry. See Louisiana Revised Statutes 6:1083
  • Usury: Charging an illegally high interest rate on a loan. Source: OCC
  • Variable Rate: Having a "variable" rate means that the APR changes from time to time based on fluctuations in an external rate, normally the Prime Rate. This external rate is known as the "index." If the index changes, the variable rate normally changes. Also see Fixed Rate.
  • Writ: A formal written command, issued from the court, requiring the performance of a specific act.