Louisiana Revised Statutes 40:582.3 – Definitions
Terms Used In Louisiana Revised Statutes 40:582.3
- 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.
- 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 a body of persons, whether incorporated or not. See Louisiana Revised Statutes 1:10
- Trustee: A person or institution holding and administering property in trust.
For purposes of this Part, the following terms shall have the meaning hereinafter ascribed to them unless the context clearly indicates otherwise:
(1) “Department” means the Department of Children and Family Services or its successor.
(2) “Governing authority” means the city council or other body charged with governing any incorporated municipality or any parish governing authority in the state or its duly authorized representative.
(3) “Housing development area” means an area approved by the United States Department of Housing and Urban Development under its Urban Development Action Grant Program, or a successor program, as a pocket of poverty or an area which by reason of the presence therein of slum, deteriorated, or deteriorating residential or non-residential buildings, structures, or improvements; or by reason of the existence of significant unsanitary, unhealthy, or other hazardous conditions which endanger the public health, safety, morals, or welfare; or by reason of the existence of any combination of the herein stated causes, factors, or conditions results in a condition in that area which substantially retards or arrests the safety and soundness of the housing environment.
(4) “Low and moderate-income families and individuals” means those families and individuals whose gross annual income does not exceed one hundred twenty per cent of metropolitan statistical area or parish income as adjusted by family sizes based on data from the United States Census Bureau or another acceptable and appropriate data source.
(5) “Person” means any individual, firm, partnership, corporation, association, or body politic and shall include any trustee, receiver, assignee, or other person acting in a similar representative capacity.
(6) “Rehabilitation” means the provision of improvement to a substandard structure in order that it attains at a minimum United States Department of Housing and Urban Development’s Section 8 Housing Quality Standards and/or local codes after improvements are completed.
Acts 1984, No. 292, §1; Acts 1988, No. 625, §2.