As used in this Chapter, the following words and phrases shall have the following meanings:

(1)  “Interest holder” means a secured party within the meaning of La. Rev. Stat. 10:9-102(a)(72) or the beneficiary of a perfected encumbrance pertaining to an interest in property.

(2)  “Owner” means a person, other than an interest holder, who has an interest in property and, if required by law, is in compliance with any statute requiring recordation or reflection in public records in order to perfect the interest against a bona fide purchaser for value.

(3)  “Proceeds” means property derived directly or indirectly from, maintained by, or realized through, an act or omission and includes any benefit, interest or property of any kind without reduction for expenses incurred for acquisition, maintenance, or any other purpose.

(4)  “Property” means anything of value, including movables and immovables, including the whole of any lot or tract of land and corporeal and incorporeal movable property, including currency, instruments, or securities, or any other kind of privilege, claim, or right and includes any interest therein.

(5)  “Seizure for forfeiture” means seizure of property by a law enforcement officer designated by the district attorney accompanied by a written assertion by the seizing agency or by a district attorney that the property is seized for forfeiture.

Acts 1989, No. 375, §1, eff. Jan. 1, 1990; Acts 1997, No. 1334, §1; Acts 2001, No. 128, §15, eff. July 1, 2001.