Louisiana Revised Statutes > Title 25 > Chapter 33 – Delta Bike Trail Commission
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Terms Used In Louisiana Revised Statutes > Title 25 > Chapter 33 - Delta Bike Trail Commission
- 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
- Commissioner: means the commissioner of insurance of the state of Louisiana. See Louisiana Revised Statutes 22:381
- Contract: A legal written agreement that becomes binding when signed.
- Decedent: A deceased person.
- 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
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
- 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 any individual, company, insurer, association, organization, reciprocal or inter-insurance exchange, partnership, business, trust, limited liability company, or corporation which provides property residual value insurance in this state. See Louisiana Revised Statutes 22:381
- Property: means all classes of movable or immovable property recognized under the laws of this state. See Louisiana Revised Statutes 22:381
- Residual value: shall mean the value of property at a specific future time, which value is determined by agreement at the time the contract of lease or sale is entered into. See Louisiana Revised Statutes 22:381