Sections
Part I Generally 37:3101 – 37:3107
Part II Licensing of Auctioneers and Auction Businesses 37:3111 – 37:3133
Part III Livestock Auctioneers 37:3134
Part IV Advertising Auction Sales 37:3140 – 37:3143

Terms Used In Louisiana Revised Statutes > Title 37 > Chapter 42 - Auctioneer Licensing Board

  • Acquiring person: means either of the following:

    (a)  A person acquiring tax sale title to a tax sale property. See Louisiana Revised Statutes 47:2122

  • Adjudicated property: means property of which tax sale title is acquired by a political subdivision pursuant to La. See Louisiana Revised Statutes 47:2122
  • Advertisement: means a commercial message in any medium that aids, promotes, or assists, directly or indirectly, a rental-purchase agreement. See Louisiana Revised Statutes 9:3352
  • 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.
  • Allegation: something that someone says happened.
  • 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.
  • 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.
  • Answer: The formal written statement by a defendant responding to a civil complaint and setting forth the grounds for defense.
  • 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.
  • Applicant: means any person applying for a license under this Chapter. See Louisiana Revised Statutes 37:3103
  • Applicant: means a person or place of business that makes a formal application for a license, permit, certification, registration, or certificate issued pursuant to this Title. See Louisiana Revised Statutes 3:1
  • Appraisal: A determination of property value.
  • Apprentice: means any person who is employed, either directly or indirectly, by an auctioneer to deal or engage in auctions or who is studying to become an auctioneer. See Louisiana Revised Statutes 37:3103
  • 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.
  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
  • Assignment: includes any written stock power, bond power, bill of sale, deed, declaration of trust or other instrument of transfer;

    (2)  "Claim of beneficial interest" includes a claim of any interest by a decedent's legatee, distributee, heir or creditor, a beneficiary under a trust, a ward, a beneficial owner of a security registered in the name of a nominee, or a minor owner of a security registered in the name of a custodian, or a claim of any similar interest, whether the claim is asserted by the claimant or by a fiduciary or by any other authorized person on his behalf, and includes a claim that the transfer would be in breach of fiduciary duties;

    (3)  "Corporation" means a private or public corporation, association or trust issuing a security;

    (4)  "Fiduciary" means an executor, administrator, trustee, guardian, committee, conservator, curator, tutor, custodian or nominee;

    (5)  "Person" includes an individual, a corporation, government or governmental subdivision or agency, business trust, estate, trust, partnership or association, two or more persons having a joint or common interest, or any other legal or commercial entity;

    (6)  "Security" includes any share of stock, bond, debenture, note or other security issued by a corporation which is registered as to ownership on the books of the corporation;

    (7)  "Transfer" means a change on the books of a corporation in the registered ownership of a security;

    (8)  "Transfer agent" means a person employed or authorized by a corporation to transfer securities issued by the corporation. See Louisiana Revised Statutes 9:3831

  • Attachment: A procedure by which a person's property is seized to pay judgments levied by the court.
  • Auction: includes but is not limited to all of the following:

                (i) Live auctions. See Louisiana Revised Statutes 37:3103

  • Auctioneer: means any person who, for another, with or without receiving or collecting a fee, commission, or other valuable consideration, sells or offers to sell property at an auction. See Louisiana Revised Statutes 37:3103
  • Authenticate: means either of the following:

    (a)  To sign. See Louisiana Revised Statutes 47:2122

  • Bank: means any "insured bank" as such term is defined in Section 3(h) of the Federal Deposit Insurance Act, 12 U. See Louisiana Revised Statutes 6:532
  • Bankruptcy: Refers to statutes and judicial proceedings involving persons or businesses that cannot pay their debts and seek the assistance of the court in getting a fresh start. Under the protection of the bankruptcy court, debtors may discharge their debts, perhaps by paying a portion of each debt. Bankruptcy judges preside over these proceedings.
  • Bench trial: Trial without a jury in which a judge decides the facts.
  • 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: means the Louisiana Auctioneers Licensing Board created in this Chapter. See Louisiana Revised Statutes 37:3103
  • Board of directors: means the board of directors of the corporation created under this Chapter. See Louisiana Revised Statutes 12:951
  • Cash price: means the price at which the lessor would have sold the property to the consumer for cash on the date of the rental-purchase agreement. See Louisiana Revised Statutes 9:3352
  • Chambers: A judge's office.
  • 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 the office of financial institutions. See Louisiana Revised Statutes 9:3578.3
  • Commissioner: means the commissioner of financial institutions for the state of Louisiana. See Louisiana Revised Statutes 6:532
  • commissioner: means the "Commissioner, Louisiana Department of Agriculture. See Louisiana Revised Statutes 3:4201
  • Company: means any corporation, business trust, partnership, association, or similar organization, including a bank, but shall not include any corporation the majority of the shares of which are owned by the United States or by any state. See Louisiana Revised Statutes 6:532
  • Complaint: A written statement by the plaintiff stating the wrongs allegedly committed by the defendant.
  • Constituent entity: means each entity that is a party to a merger or consolidation under this Chapter. See Louisiana Revised Statutes 9:3441
  • Consumer: means a natural person who rents personal property under a rental-purchase agreement to be used primarily for personal, family, or household purposes. See Louisiana Revised Statutes 9:3352
  • Consummation: means the time when a consumer becomes contractually obligated on a rental-purchase agreement. See Louisiana Revised Statutes 9:3352
  • Conviction: A judgement of guilt against a criminal defendant.
  • Corporation: means a private or public corporation, association or trust issuing a security;

    (4)  "Fiduciary" means an executor, administrator, trustee, guardian, committee, conservator, curator, tutor, custodian or nominee;

    (5)  "Person" includes an individual, a corporation, government or governmental subdivision or agency, business trust, estate, trust, partnership or association, two or more persons having a joint or common interest, or any other legal or commercial entity;

    (6)  "Security" includes any share of stock, bond, debenture, note or other security issued by a corporation which is registered as to ownership on the books of the corporation;

    (7)  "Transfer" means a change on the books of a corporation in the registered ownership of a security;

    (8)  "Transfer agent" means a person employed or authorized by a corporation to transfer securities issued by the corporation. See Louisiana Revised Statutes 9:3831

  • Corporation: means a Louisiana industrial development corporation created under this Chapter. See Louisiana Revised Statutes 12:951
  • Counterclaim: A claim that a defendant makes against a plaintiff.
  • Credit: includes every claim and demand for money, labor, merchandise and other valuable things. See Louisiana Revised Statutes 47:1702
  • Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
  • Dealer: means and includes every person who sells special fuels at retail and delivers such special fuels into the fuel supply tanks of motor vehicles. See Louisiana Revised Statutes 47:801
  • Decedent: A deceased person.
  • Deed: The legal instrument used to transfer title in real property from one person to another.
  • Defendant: In a civil suit, the person complained against; in a criminal case, the person accused of the crime.
  • Deferred presentment transaction: means a transaction made pursuant to a written agreement whereby a licensee:

    (a)  Accepts a check from the issuer dated as of the date it was written;

    (b)  Agrees to hold the check for a period of time not to exceed thirty days prior to negotiation or presentment; and

    (c)  Pays to the issuer of the check the amount of the check less the fee permitted in La. See Louisiana Revised Statutes 9:3578.3

  • Department: means the Department of Agriculture and Forestry. See Louisiana Revised Statutes 3:1
  • Dependent: A person dependent for support upon another.
  • Devise: To gift property by will.
  • Discovery: Lawyers' examination, before trial, of facts and documents in possession of the opponents to help the lawyers prepare for trial.
  • Dismissal: The dropping of a case by the judge without further consideration or hearing. Source:
  • Donee: The recipient of a gift.
  • Donor: The person who makes a gift.
  • Duly notified: means , with respect to a particular person, that an effort meeting the requirements of due process of law has been made to identify and to provide that person with a notice that meets the requirements of La. See Louisiana Revised Statutes 47:2122
  • Dyed fuel: means any fuel meeting the definition of special fuels that is required to be dyed pursuant to the requirements of the Internal Revenue Service and is destined for tax-exempt uses or other uses as specifically authorized. See Louisiana Revised Statutes 47:801
  • Embezzlement: In most states, embezzlement is defined as theft/larceny of assets (money or property) by a person in a position of trust or responsibility over those assets. Embezzlement typically occurs in the employment and corporate settings. Source: OCC
  • Enrolled bill: The final copy of a bill or joint resolution which has passed both chambers in identical form. It is printed on parchment paper, signed by appropriate officials, and submitted to the President/Governor for signature.
  • 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.
  • 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.
  • Ex officio: Literally, by virtue of one's office.
  • Executor: A male person named in a will to carry out the decedent
  • 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 Meat Inspection Act: means the act so entitled approved March 4, 1907, as amended by the Wholesome Meat Act (21 U. See Louisiana Revised Statutes 3:4201
  • Federal Poultry Products Inspection Act: means the act so entitled, approved August 28, 1957 (21 U. See Louisiana Revised Statutes 3:4201
  • 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
  • Fiduciary: A trustee, executor, or administrator.
  • 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
  • Financial institution: means any banking corporation or trust company, savings and loan association, insurance company or related corporation, partnership, foundation, or other institution engaged primarily in lending or investing funds. See Louisiana Revised Statutes 12:951
  • Fire truck: means vehicles built with the capability of operating fire fighting equipment such as hoses, ladders, and pumps and carrying teams of firefighters to fire scenes. See Louisiana Revised Statutes 47:801
  • firm: means any partnership, association, or other unincorporated business organization. See Louisiana Revised Statutes 3:4201
  • Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
  • Foreclosure: A legal process in which property that is collateral or security for a loan may be sold to help repay the loan when the loan is in default. Source: OCC
  • Forgery: The fraudulent signing or alteration of another's name to an instrument such as a deed, mortgage, or check. The intent of the forgery is to deceive or defraud. Source: OCC
  • 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 lien: means all liens imposed by law upon immovable property in favor of any political subdivision and filed in the mortgage records, including without limitation, those imposed under La. See Louisiana Revised Statutes 47:2122
  • 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.
  • immovable property: means and includes not only land, city, town and village lots, but all things thereunto pertaining, and all structures and other appurtenances thereto, as pass to the vendee by the conveyance of the land or lot. See Louisiana Revised Statutes 47:1702
  • Importing: means bringing special fuels into this state in the fuel supply tanks of a motor vehicle. See Louisiana Revised Statutes 47:801
  • 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
  • Internet-based platform: means a website which is used by licensed auction houses or auctioneers to conduct auctions as defined in this Chapter. See Louisiana Revised Statutes 37:3103
  • Interstate User: means any person who imports or exports special fuels into or out of this state in the fuel supply tanks of motor vehicles owned or operated by him. See Louisiana Revised Statutes 47:801
  • intrastate commerce: means commerce within the state. See Louisiana Revised Statutes 3:4201
  • label: means a display of written, printed, or graphic matter upon the immediate container (not including package liners) of any article. See Louisiana Revised Statutes 3:4201
  • labeling: means all labels and other written, printed, or graphic matter (1) upon any article or any of its containers or wrappers, or (2) accompanying such article. See Louisiana Revised Statutes 3:4201
  • 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.
  • 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
  • Lessor: means a person who regularly provides the use of property through rental-purchase agreements and to whom rental payments are initially payable on the face of the rental-purchase agreement. See Louisiana Revised Statutes 9:3352
  • Licensee: means a person licensed pursuant to this Chapter that offers deferred presentment transactions or small loans, or both. See Louisiana Revised Statutes 9:3578.3
  • Licensee: means any person holding a license under this Chapter. See Louisiana Revised Statutes 37:3103
  • Lien: A claim against real or personal property in satisfaction of a debt.
  • Loan limit: means , for any member, the maximum amount permitted to be outstanding at one time on loans made by such member to the corporation, as determined under the provisions of this Chapter. See Louisiana Revised Statutes 12:951
  • meat food product: means any product capable of use as human food which is made wholly or in part from any meat or other portion of the carcass of any cattle, sheep, swine, poultry or goats, excepting products which contain meat or other portions of such carcasses only in a relatively small proportion or historically have not been considered by consumers as products of the meat food industry, and which are exempted from definition as a meat food product by the commissioner under such conditions as he may prescribe to assure that the meat or other portions of such carcasses contained in such product are not adulterated and that such products are not represented as meat food products. See Louisiana Revised Statutes 3:4201
  • Member: means any financial institution authorized to do business within this state which shall undertake to lend money to a corporation created under this Chapter, upon its call, and in accordance with the provisions of this Chapter. See Louisiana Revised Statutes 12:951
  • Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
  • Mortgagee: The person to whom property is mortgaged and who has loaned the money.
  • Mortgagor: The person who pledges property to a creditor as collateral for a loan and who receives the money.
  • Motor Vehicle: means and includes any automobile, truck, truck-tractor, tractor, bus, vehicle, or other conveyance which is propelled by an internal combustion engine or motor, and is licensed, or required to be licensed, for highway use. See Louisiana Revised Statutes 47:801
  • movable property: means and includes all things other than real estate which have any pecuniary value, all monies, credits, investments in bonds, stocks, franchises, shares in joint stock companies, or otherwise. See Louisiana Revised Statutes 47:1702
  • National Bank: A bank that is subject to the supervision of the Comptroller of the Currency. The Office of the Comptroller of the Currency is a bureau of the U.S. Treasury Department. A national bank can be recognized because it must have "national" or "national association" in its name. Source: OCC
  • New entity: means the entity into which constituent entities consolidate, as identified in the agreement or certificate of consolidation provided for in this Chapter. See Louisiana Revised Statutes 9:3441
  • Nolo contendere: No contest-has the same effect as a plea of guilty, as far as the criminal sentence is concerned, but may not be considered as an admission of guilt for any other purpose.
  • official certificate: means any certificate prescribed by regulations of the commissioner for issuance by an inspector or other person performing official functions under this Chapter. See Louisiana Revised Statutes 3:4201
  • official device: means any device prescribed or authorized by the commissioner for use in applying any official mark. See Louisiana Revised Statutes 3:4201
  • official inspection legend: means any symbol prescribed by regulations of the commissioner showing that the article was inspected and passed in accordance with this Chapter. See Louisiana Revised Statutes 3:4201
  • official mark: means the official inspection legend or any other symbol prescribed by regulations of the commissioner to identify the status of any article or animal under this Act. See Louisiana Revised Statutes 3:4201
  • 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
  • Ordinance: means :

    (a)  An act of a political subdivision that has the force and effect of law, including but not limited to an ordinance, a resolution, or a motion; or

    (b)  A rule or regulation promulgated by the State Land Office, the division of administration, or by another state agency with authority over adjudicated properties. See Louisiana Revised Statutes 47:2122

  • Owner: means a person who holds an ownership interest that has not been terminated pursuant to La. See Louisiana Revised Statutes 47:2122
  • Owner: means the owner of record, and it shall not include usufructuaries, lessees, mortgagees, or trustees, who shall be considered as represented by the record owner for all purposes. See Louisiana Revised Statutes 38:1601
  • Partial payment: means a payment of fifty dollars or more on a deferred presentment transaction or small loan. See Louisiana Revised Statutes 9:3578.3
  • 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: includes , in addition to the definition contained in La. See Louisiana Revised Statutes 47:801
  • Person: means an individual, partnership, company, corporation, association, or group however organized. See Louisiana Revised Statutes 37:3103
  • 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
  • Place of business: means a permanent location or a portion of a permanent location from which business, in a regulated profession or occupation, is transacted. See Louisiana Revised Statutes 3:1
  • Plaintiff: The person who files the complaint in a civil lawsuit.
  • Plea: In a criminal case, the defendant's statement pleading "guilty" or "not guilty" in answer to the charges, a declaration made in open court.
  • police jury: means the governing authority of the various parishes. See Louisiana Revised Statutes 38:1601
  • police jury: means the governing authority of the various parishes. See Louisiana Revised Statutes 38:1751
  • Political subdivision: means any of the following to the extent it has the power to levy ad valorem taxes and conduct tax sales for failure to pay ad valorem taxes:

    (a)  The state. See Louisiana Revised Statutes 47:2122

  • 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.
  • prepared: means slaughtered, canned, salted, rendered, boned, cut up, or otherwise manufactured or processed. See Louisiana Revised Statutes 3:4201
  • Prepayment: means payment in full of the deferred presentment transaction or small loan amount prior to the end of the term of that transaction or loan. See Louisiana Revised Statutes 9:3578.3
  • 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.
  • Professional accounting corporation: means a corporation organized pursuant to this Chapter and meeting the requirements to obtain a permit as a certified professional accounting firm as provided for by the Louisiana Accountancy Act, La. See Louisiana Revised Statutes 12:1011
  • Professional dental corporation: means a corporation organized pursuant to this Chapter for the practice of dentistry. See Louisiana Revised Statutes 12:981
  • professional medical corporation: means a corporation organized pursuant to this Chapter for the practice of medicine or podiatry. See Louisiana Revised Statutes 12:901
  • Property: includes every form, character and kind of property, real, personal, and mixed, tangible and intangible, corporeal and incorporeal, and every share, right, title or interest therein or thereto, and every right, privilege, franchise, patent, copyright, trade-mark, certificate, or other evidence of ownership or interest; bonds, notes, judgments, credits, accounts, or other evidence of indebtedness, and every other thing of value, in possession, on hand, or under the control, at any time during the calendar year for which taxes are levied, within the State of Louisiana, of any person, firm, partnership, association of persons, or corporation, foreign or domestic whether the same be held, possessed, or controlled, as owner, agent, pledgee, mortgagee, or legal representative, or as president, cashier, treasurer, liquidator, assignee, master, superintendent, manager, sequestrator, receiver, trustee, stakeholder, depository, warehouseman, keeper, curator, executor, administrator, legatee, heir, beneficiary, parent, attorney, usufructuary, mandatary, fiduciary, or other capacity, whether the owner be known or unknown; except in the cases of fire, life, or other insurance companies, the notes, judgments, accounts, and credits of nonresident persons, firms, corporations, partnerships, associations, or companies doing business in the State of Louisiana, originating from the business done in this state, are hereby declared to be property with its situs within this state. See Louisiana Revised Statutes 47:1702
  • Property: means any property, tangible and intangible, real, personal, or mixed. See Louisiana Revised Statutes 37:3103
  • Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
  • Redemption nullity: means the right of a person to annul a tax sale in accordance with La. See Louisiana Revised Statutes 47:2122
  • Redemptive period: means the period in which a person may redeem property as provided in thethe Louisiana Constitution. See Louisiana Revised Statutes 47:2122
  • Remand: When an appellate court sends a case back to a lower court for further proceedings.
  • Rental-purchase agreement: means an agreement for the use of personal property by a natural person primarily for personal, family, or household purposes for an initial period of four months or less, that is automatically renewable with each payment after the initial period, but that does not obligate or require the consumer to continue renting or using the property beyond the initial period, and that permits the consumer to become the owner of the property. See Louisiana Revised Statutes 9:3352
  • 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).
  • 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.
  • secretary of revenue: when used in this Title, mean the secretary of the Department of Revenue for the state of Louisiana. See Louisiana Revised Statutes 47:1501
  • Secured party: means a person holding a security interest. See Louisiana Revised Statutes 37:3103
  • Send: means either of the following:

    (a)  To deposit in the mail or deliver for transmission by any other commercially reasonable means of communication with postage or cost of transmission provided for, and properly addressed to any address reasonable under the circumstances. See Louisiana Revised Statutes 47:2122

  • 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.
  • Signed: includes using any symbol executed or adopted with present intention to adopt or accept a writing in tangible form. See Louisiana Revised Statutes 47:2122
  • Small loan: means a consumer loan, as defined in La. See Louisiana Revised Statutes 9:3578.3
  • Special Fuels: means and includes all combustible gases and liquids used or suitable for use in an internal combustion engine or motor for the generation of power for motor vehicles, except such fuels as are subject to the tax imposed by Part I of Chapter 7 of Title 47 of the Louisiana Revised Statutes of 1950. See Louisiana Revised Statutes 47:801
  • Statutory imposition: means ad valorem taxes and any imposition in addition to ad valorem taxes that are included on the tax bill sent to the tax debtor. See Louisiana Revised Statutes 47:2122
  • Supplier: means any person who sells or delivers special fuels to a user or dealer in this state for resale or use. See Louisiana Revised Statutes 47:801
  • Surviving entity: means the constituent entity surviving a merger, as identified in the agreement or certificate of merger provided for in this Chapter. See Louisiana Revised Statutes 9:3441
  • Tax debtor: means , as of the date of determination, the person listed on the tax roll in accordance with La. See Louisiana Revised Statutes 47:2122
  • Tax notice party: means , as of the date of determination, the tax debtor and any person requesting notice pursuant to La. See Louisiana Revised Statutes 47:2122
  • Tax sale: means the sale or adjudication of tax sale title to property pursuant to La. See Louisiana Revised Statutes 47:2122
  • Tax sale certificate: means the written notice evidencing a tax sale to be filed in accordance with La. See Louisiana Revised Statutes 47:2122
  • Tax sale party: means the tax notice party, the owner of property, including the owner of record at the time of a tax sale, as shown in the conveyance records of the appropriate parish, and any other person holding an interest, such as a mortgage, privilege, or other encumbrance on the property, including a tax sale purchaser, as shown in the mortgage and conveyance records of the appropriate parish. See Louisiana Revised Statutes 47:2122
  • Tax sale property: means property for which tax sale title is sold pursuant to La. See Louisiana Revised Statutes 47:2122
  • Tax sale purchaser: means the purchaser of tax sale property, his successors, and assigns. See Louisiana Revised Statutes 47:2122
  • Tax sale title: means the set of rights acquired by a tax sale purchaser or, in the case of adjudicated property, on the applicable political subdivision, pursuant to this Chapter. See Louisiana Revised Statutes 47:2122
  • 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.
  • 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
  • Trust business: means the holding out by a person to the public by advertising, solicitation, or other means that the person is available to perform any service of a fiduciary in this state or another state. See Louisiana Revised Statutes 6:572
  • Trust company: means a corporation or a limited liability trust company organized under this Chapter, including a trust company organized under 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 6:572
  • Trustee: A person or institution holding and administering property in trust.
  • 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
  • Used: means ,

    (a)  Keeping special fuels in storage and selling, using or otherwise dispensing, for the operation of motor vehicles. See Louisiana Revised Statutes 47:801

  • User: means and includes every person who delivers or causes to be delivered any special fuels into the fuel supply tanks of motor vehicles owned or operated by him. See Louisiana Revised Statutes 47:801
  • 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.
  • Venue: The geographical location in which a case is tried.
  • Verdict: The decision of a petit jury or a judge.
  • Writ: A formal written command, issued from the court, requiring the performance of a specific act.
  • writing: means information that is inscribed on a tangible medium or which is stored in an electronic or other medium and is retrievable in perceivable form. See Louisiana Revised Statutes 47:2122