Terms Used In Louisiana Revised Statutes > Title 25 > Chapter 11 - New Orleans Planetarium-- Science Center

• Adoption date: means the date as of which the board of directors of the reorganizing mutual initially approves and adopts the plan of reorganization. See Louisiana Revised Statutes 22:236
• Clerk of court: An officer appointed by the court to work with the chief judge in overseeing the court's administration, especially to assist in managing the flow of cases through the court and to maintain court records.
• Commissioner: means the commissioner of insurance, or his deputy, or the Department of Insurance, as appropriate. See Louisiana Revised Statutes 22:236
• Control: has the meaning set forth in La. See Louisiana Revised Statutes 22:236
• 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.
• Dependent: A person dependent for support upon another.
• 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}
• Fiduciary: A trustee, executor, or administrator.
• Governmental unit: means the state of Louisiana, municipalities, parishes, parish and municipal school boards and districts, levee boards and districts, housing authorities, bridge authorities, community improvement agencies, redevelopment agencies, all other political subdivisions of the state, public trusts, corporations, districts, boards, authorities, agencies, and units of local government and nonprofit corporations created by or governed by the governing authorities of parishes or municipalities, any special service districts, such as water, sewerage, garbage, and lighting districts created by or pursuant to legislative acts and any other districts, boards, authorities, and agencies of the state of Louisiana authorized to issue bonds. See Louisiana Revised Statutes 13:5121
• 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}
• Member: means : (a) with respect to a mutual insurer, a policyholder who owns or is deemed by the plan of reorganization to own a policy of the mutual insurer; or (b) with respect to a mutual insurance holding company, a member of such mutual insurance holding company, as defined in such company's articles of incorporation and bylaws or as defined in the plan of reorganization. See Louisiana Revised Statutes 22:236
• 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, a corporation, a partnership, an association, a joint stock company, a trust, an unincorporated organization, a limited liability company, a limited liability partnership, a government or governmental agency, a state or political subdivision of a state, board, estate, trustee or fiduciary, or any other legal entity. See Louisiana Revised Statutes 22:236
• Plan of reorganization: means the plan of reorganization adopted by the reorganizing mutual in compliance with this Subpart. See Louisiana Revised Statutes 22:236
• Policy: means an individual or group policy of insurance or annuity contract issued, or deemed by the plan of reorganization to have been issued, by a mutual insurer or by a reorganized insurer. See Louisiana Revised Statutes 22:236
• Policyholder: means a person who, on the basis of the records and the organizational documents of the mutual insurer or reorganized insurer, is deemed to be a policyholder of such insurer. See Louisiana Revised Statutes 22:236
• Quorum: The number of legislators that must be present to do business.
• Reorganized insurance holding company: means a former mutual insurance holding company reorganized as a stock insurance holding company, or a stock insurance holding company into which a mutual insurance holding company has been merged, pursuant to a plan of reorganization under this Subpart. See Louisiana Revised Statutes 22:236
• Reorganized insurer: means the following:

              (a) With respect to a conversion of a mutual insurer under this Subpart, the domestic stock insurer into which a mutual insurer is being or has been reorganized. See Louisiana Revised Statutes 22:236

• Reorganizing mutual: means a mutual insurer or mutual insurance holding company that is reorganizing pursuant to this Subpart. See Louisiana Revised Statutes 22:236
• Trustee: A person or institution holding and administering property in trust.