Terms Used In Louisiana Revised Statutes > Title 9 > CODE TITLE XVII - Of Transaction or Compromise

• Accumulated contributions: means 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. See Louisiana Revised Statutes 11:1002
• Agency: means any state office, department, board, commission, institution, division, officer or other person, or functional group, heretofore existing or hereafter created, that is authorized to exercise, or that does exercise, any functions of the government of the state in the executive branch, but not any governing body or officer of any local government or subdivision of the state, or any parochial officer who exercises functions coterminous with the municipality in which he performs those functions. See Louisiana Revised Statutes 39:2
• Agency: means any governing body employing persons in the public school system. See Louisiana Revised Statutes 11:1002
• Annuity: means payments for life derived from the accumulated contributions of a member. See Louisiana Revised Statutes 11:1002
• Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
• Beneficiary: means any person in receipt of a pension, an annuity, a retirement allowance or other benefit provided by this Chapter. See Louisiana Revised Statutes 11:1002
• Board: means the Louisiana State Police Retirement System Board. See Louisiana Revised Statutes 11:1301
• Board of Trustees: means the board provided to administer the retirement system. See Louisiana Revised Statutes 11:1002
• bonds: means any bonds, notes, warrants, certificates of indebtedness, certificates of participation or other written contracts, agreements, or instruments evidencing the obligation of a governmental entity to repay borrowed money, regardless of the designation thereof. See Louisiana Revised Statutes 39:503
• Commissioner: means the Louisiana commissioner of agriculture and forestry. See Louisiana Revised Statutes 3:921
• Costs of issuance: means all items of expense related to the authorization, sale and issuance of bonds, including but not limited to printing costs, costs of preparation and reproduction of documents, filing and recording fees, fees and charges of any fiduciary, legal fees and charges of any counsels necessary in connection with the issuance of bonds, costs of preparation, printing, and distribution of official statements or other disclosure documents, fees and disbursements of consultants and professionals in connection with the issuance of bonds, costs of credit ratings, fees and charges for preparation, execution, transportation, and safekeeping of bonds, costs and expenses of refunding, underwriters discount or placement fees, costs of any credit enhancement, costs of any financial products agreement, and any other cost, charge, or fee in connection with the issuance of bonds. See Louisiana Revised Statutes 39:503
• Covered produce farm: means any farm engaged in the growing, harvesting, packing, or holding of produce for human consumption which is subject to the requirements of the FDA Food Safety Modernization Act, but shall not include farms that have twenty-five thousand dollars or less of gross income from sales of produce in a year. See Louisiana Revised Statutes 3:921
• Credit enhancement: means any letter of credit, insurance policy, surety bond, standby bond purchase agreement, reserve fund surety bond, or similar facility as used for the purpose of enhancing the security or credit quality of bonds. See Louisiana Revised Statutes 39:503
• Department: means the Louisiana Department of Agriculture and Forestry. See Louisiana Revised Statutes 3:921
• Department: means the Department of Agriculture and Forestry. See Louisiana Revised Statutes 3:1
• Earnable compensation: means the full amount earned by an employee for a given pay period. See Louisiana Revised Statutes 11:1002
• Employee: means any person legally occupying a position as a school bus driver who actually renders a service by driving a school bus during the full time of his employment, a school janitor, a school custodian, a school maintenance employee, school bus aide, monitor or attendant, or other regular school employee who actually works on a school bus helping with the transportation of school children, and who is a legal employee of a parish or city school board of the state of Louisiana, and shall include the employees of this system. See Louisiana Revised Statutes 11:1002
• Employer: means the state of Louisiana or any parish or city school board from which any employee receives his compensation. See Louisiana Revised Statutes 11:1002
• Executive session: A portion of the Senate's daily session in which it considers executive business.
• Fiduciary: A trustee, executor, or administrator.
• Financial products agreement: means an interest rate swap, cap, collar, floor, other hedging agreement, arrangement, or security, however denominated, entered into by a governmental entity not for investment purposes but with respect to a series of bonds for the purpose of reducing or otherwise managing the risk of interest rate changes, or effectively converting a governmental entity's interest rate exposure, in whole or in part, from a fixed rate exposure to a variable rate exposure, or from a variable rate exposure to a fixed rate exposure. See Louisiana Revised Statutes 39:503
• Fixed Rate: Having a "fixed" rate means that the APR doesn't change based on fluctuations of some external rate (such as the "Prime Rate"). In other words, a fixed rate is a rate that is not a variable rate. A fixed APR can change over time, in several circumstances:
  • You are late making a payment or commit some other default, triggering an increase to a penalty rate
  • The bank changes the terms of your account and you do not reject the change.
  • The rate expires (if the rate was fixed for only a certain period of time).
• Fraud: Intentional deception resulting in injury to another.
• Fund: means the Louisiana State Police Retirement System Fund. See Louisiana Revised Statutes 11:1301
• Goal: means a general purpose toward which the efforts of an agency are directed. See Louisiana Revised Statutes 39:2
• Governing authority: means the elected or appointed body that exercises the legislative functions of a parish, municipality, school board, school district, or other political subdivision, including:

              (a) A sheriff in the case of a law enforcement district. See Louisiana Revised Statutes 39:503

• Governmental entity: means any parish, municipality, school board, school district, or other political subdivision of the state, other than the city of New Orleans and its agencies, boards, authorities, and commissions, and other than the Sewerage and Water Board of New Orleans. See Louisiana Revised Statutes 39:503
• In service: means service rendered after June 30, 1947, for which retirement credit has not been received and for which credit is allowable under Part III of this Chapter. See Louisiana Revised Statutes 11:1002
• Litigation: A case, controversy, or lawsuit. Participants (plaintiffs and defendants) in lawsuits are called litigants.
• Member: means any school employee, as defined in Paragraph (13) of this Section, as provided in Part II of this Chapter. See Louisiana Revised Statutes 11:1002
• Obligation: means an amount which a government may be required legally to meet out of its resources. See Louisiana Revised Statutes 39:2
• office: means the office of state police, Department of Public Safety. See Louisiana Revised Statutes 11:1301
• Pension reserve: means the present value of all payments to be made on account of any pension or benefit in lieu of any pension computed upon the basis of such mortality tables as shall be adopted by the board of trustees, and regular interest. See Louisiana Revised Statutes 11:1002
• Pensions: means payments for life derived from money provided by the state or the employing agency. See Louisiana Revised Statutes 11:1002
• 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
• 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.
• Produce: means any food that is defined as such within the meaning of the FDA Food Safety Modernization Act and is a raw agricultural commodity, including raw agricultural commodities that are grown domestically or imported or offered for sale in Louisiana. See Louisiana Revised Statutes 3:921
• Professional Optometry Corporation: means a corporation organized pursuant to this Chapter for the practice of optometry as provided for by La. See Louisiana Revised Statutes 12:1110
• Program: means a grouping of activities directed toward the accomplishment of a clearly defined objective or set of objectives. See Louisiana Revised Statutes 39:2
• Regular interest: means interest compounded annually at such a rate as shall be determined by the board of trustees in accordance with La. See Louisiana Revised Statutes 11:1002
• Retirement: means withdrawal from active service with a retirement allowance granted under the provisions of this Chapter. See Louisiana Revised Statutes 11:1002
• Retirement system: means the Louisiana School Employees Retirement System established and described in La. See Louisiana Revised Statutes 11:1002
• State: means the state of Louisiana. See Louisiana Revised Statutes 39:503
• Student: means a person in a high school, a vocational-technical school, or a college or university, in a sufficient number of courses and classes in an accredited institution to be classified as a full-time regular student under the criteria used by the institution in which he is enrolled. See Louisiana Revised Statutes 11:1301
• System: means the Louisiana State Police Retirement System. See Louisiana Revised Statutes 11:1301
• Total assessed value: means the assessed valuation of all property, including both homestead-exempt property, which shall be included on the assessment roll for the purposes of total assessed value, and nonexempt property as shown on the most recent assessment of the parish in which the governmental entity is located. See Louisiana Revised Statutes 39:503
• Uphold: The decision of an appellate court not to reverse a lower court decision.
• 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.