Terms Used In Louisiana Revised Statutes > Title 11 > Subtitle I > Chapter 2 - Required Contributions

• Accumulated contributions: means the sum of all regular contributions, plus regular interest thereon, placed to the credit of the participant in the annuity savings account. See Louisiana Revised Statutes 11:951.1
• Actuarial equivalent: means a benefit of equal value when computed upon the basis of the mortality tables adopted by the board of trustees plus regular interest. See Louisiana Revised Statutes 11:951.1
• 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
• Annuity: means annual payments for life, payable in equal monthly installments, derived from the accumulated contributions placed to the credit of the participant in the annuity reserve account. See Louisiana Revised Statutes 11:951.1
• 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.
• Arrest: Taking physical custody of a person by lawful authority.
• Articles: means the original articles of incorporation and all amendments thereto including those contained in merger agreements or, if restated, the latest restatement thereof except in those instances in which the context refers expressly to the original articles of incorporation only. See Louisiana Revised Statutes 6:201
• Assets: means all of a state bank's property and rights of every kind. See Louisiana Revised Statutes 6:201
• association: means a corporation, or unincorporated association, owned by or composed of the unit owners and through which the unit owners manage and regulate the condominium. See Louisiana Revised Statutes 9:1121.103
• average compensation: means his average earnable compensation for the five highest successive years of employment, or the highest five successive joined years where interruption of service occurred. See Louisiana Revised Statutes 11:701
• Beneficiary: means any person in receipt of a pension, an annuity, a retirement allowance or other benefits provided for in this Part. See Louisiana Revised Statutes 11:951.1
• Board: means the Louisiana Board of Animal Health. See Louisiana Revised Statutes 3:561
• Board of trustees: means the board provided for in Part V of this Chapter to administer the retirement system. See Louisiana Revised Statutes 11:701
• Board of trustees: means and includes the members of the board of trustees of the retirement system. See Louisiana Revised Statutes 11:951.1
• Capital: means the sum of capital stock, surplus, and undivided profits or, as to mutual state banks, as defined by La. See Louisiana Revised Statutes 6:201
• 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.
• Common elements: means the portion of the condominium property not a part of the individual units. See Louisiana Revised Statutes 9:1121.103
• Common expenses: means :

  (a)  Expenses of administration, maintenance, repair, and replacement of the common elements. See Louisiana Revised Statutes 9:1121.103

• Condominium parcel: means a unit together with the undivided interest in the common elements which is an inseparable component part of the unit. See Louisiana Revised Statutes 9:1121.103
• Condominium property: means all interests in land, improvements thereon, and all servitudes and rights attaching to the condominium. See Louisiana Revised Statutes 9:1121.103
• declaration: means the instrument by which immovable property is made subject to this Part. See Louisiana Revised Statutes 9:1121.103
• Defendant: In a civil suit, the person complained against; in a criminal case, the person accused of the crime.
• Dependent: A person dependent for support upon another.
• Deployment: means military service in compliance with mandatory written orders, unaccompanied by any family member, for combat operations, contingency operations, peacekeeping operations, temporary duty, a remote tour of duty, or other active service. See Louisiana Revised Statutes 9:359.1
• Docket: A log containing brief entries of court proceedings.
• Donee: The recipient of a gift.
• Employee: means any person regularly employed in any capacity under the control of the Orleans Parish School Board who is not a teacher or whose legal employment does not require the holding of a teacher's certificate, including employees of the public school lunch department, all skilled and unskilled employees of the maintenance department, managers, custodians, subcustodians, and others who are not temporarily employed, and are paid out of funds under the control of the Orleans Parish School Board, who are not now eligible for membership in any other retirement system created or established by the State of Louisiana or any of its political subdivisions. See Louisiana Revised Statutes 11:951.1
• Executor: A male person named in a will to carry out the decedent
• Expenses: means amounts represented by cash paid out or by obligations to pay cash or partly by each for maintaining and operating government services. See Louisiana Revised Statutes 39:2
• Fiduciary: means any person, firm, partnership, association, or state bank, including a usufructuary, who or which occupies a position of peculiar confidence toward any person, firm, association, partnership, trust, or estate. See Louisiana Revised Statutes 6:201
• Fish: as used in this Part , means all fish as defined in La. See Louisiana Revised Statutes 56:301
• 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).
• 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}
• Fund: means an independent fiscal and accounting entity with a self-balancing set of accounts recording cash or other resources together with all related liabilities, obligations, reserves, and equities which are segregated for the purpose of carrying on specific activities or attaining certain objectives in accordance with regulations, restrictions, and limitations. See Louisiana Revised Statutes 39:2
• Inter vivos: Transfer of property from one living person to another living person.
• 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}
• Licensed mental health professional: as used in this Chapter means a person who possesses at least a master's degree and who is licensed in counseling, social work, psychology, marriage and family counseling, or exempt from licensing requirements pursuant to La. See Louisiana Revised Statutes 9:331
• Litigation: A case, controversy, or lawsuit. Participants (plaintiffs and defendants) in lawsuits are called litigants.
• Livestock: means cattle, buffalo, bison, oxen, and other bovine; horses, mules, donkeys, and other equine; sheep; goats; swine; domestic rabbits; fish, turtles, and other animals identified with aquaculture that are located in artificial reservoirs or enclosures that are both on privately owned property and constructed so as to prevent, at all times, the ingress and egress of fish life from public waters; imported exotic deer and antelope, elk, farm-raised white-tailed deer, farm-raised ratites, and other farm-raised exotic animals; chickens, turkeys, and other poultry; and animals placed under the jurisdiction of the commissioner of agriculture and forestry and any hybrid, mixture, or mutation of any such animal. See Louisiana Revised Statutes 3:561
• Market agency: means any persons, firm, or corporation engaged in the business of buying or selling livestock in commerce on a commission basis, either at a public stockyard or at a privately owned and operated sales pen or concentration point, or any persons engaged in the furnishing of services for the conduct of such business, including but not limited to livestock video auctions. See Louisiana Revised Statutes 3:561
• Member: means any teacher included in the membership of the system as provided in Part II of this Chapter. See Louisiana Revised Statutes 11:701
• Mortgage loan: A loan made by a lender to a borrower for the financing of real property. ^{Source: OCC}
• 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.
• 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}
• 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.
• 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.
• Order: means any custody or visitation judgment, decree, or order issued by a court of competent jurisdiction in this state or any judgment of another state which has been made executory in this state. See Louisiana Revised Statutes 9:359.1
• Participant: means any employee who is entitled to the beneficial provisions of this retirement system. See Louisiana Revised Statutes 11:951.1
• Pension: means annual payments for life, payable in equal monthly installments, derived from money provided by the Orleans Parish School Board and other amounts accumulated in the pension accumulation account as provided for in this Part. See Louisiana Revised Statutes 11:951.1
• 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 mortality tables adopted by the board of trustees, plus regular interest. See Louisiana Revised Statutes 11:951.1
• Pensions: means payments for life. See Louisiana Revised Statutes 11:701
• Person: means an individual, partnership, corporation, or association of such persons acting as a unit. See Louisiana Revised Statutes 3:561
• 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.
• Principal residence of a child: means :

  (a)  The location designated by a court to be the primary residence of the child. See Louisiana Revised Statutes 9:355.1

• Prior service: means service rendered by an employee prior to the effective date of the establishment of this retirement system for which credit is allowable as provided in this Part. See Louisiana Revised Statutes 11:951.1
• Probate: Proving a will
• Probation: A sentencing alternative to imprisonment in which the court releases convicted defendants under supervision as long as certain conditions are observed.
• 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
• Public school: means any school conducted within the state under the authority and supervision of a city, parish, or other local school board and any educational institution supported by and under the control of the state. See Louisiana Revised Statutes 11:701
• Regular contributions: means the contributions deducted from the compensation of a participant subsequent to the effective date of the establishment of this retirement system as required by this Part and placed to the credit of the participant in the annuity savings account. See Louisiana Revised Statutes 11:951.1
• Regular interest: means interest compounded annually at such rate as shall be determined by the board of trustees. See Louisiana Revised Statutes 11:951.1
• Relocation: means a change in the principal residence of a child for a period of sixty days or more, but does not include a temporary absence from the principal residence. See Louisiana Revised Statutes 9:355.1
• Retirement: means withdrawal from active service with a retirement allowance granted under the provisions of this Chapter. See Louisiana Revised Statutes 11:701
• Retirement: means withdrawal from active service with a retirement allowance allowable under the provisions of this Part. See Louisiana Revised Statutes 11:951.1
• Retirement allowance: means the sum of the annuity and the pension, or any other benefits payable in lieu thereof. See Louisiana Revised Statutes 11:951.1
• Retirement system: means the Teachers' Retirement System of Louisiana as defined in La. See Louisiana Revised Statutes 11:701
• Retirement system: means the corporation known as the Orleans Parish School Employees' Retirement System established in La. See Louisiana Revised Statutes 11:951.1
• Service: means service rendered by an employee as herein defined. See Louisiana Revised Statutes 11:951.1
• Shares: means the units into which the stockholders' rights to participate in the control of the state bank, in its profits, or in the distribution of corporate assets are divided. See Louisiana Revised Statutes 6:201
• Stockholder: means the holder of record of one or more shares. See Louisiana Revised Statutes 6:201
• Summons: Another word for subpoena used by the criminal justice system.
• Testator: A male person who leaves a will at death.
• Total voting power: means the entirety of the voting power. See Louisiana Revised Statutes 6:201
• Unit: means a part of the condominium property subject to individual ownership. See Louisiana Revised Statutes 9:1121.103
• Voting power: means the right vested by law or by the articles or the bylaws in the stockholder or in one or more classes of stockholder to vote in the determination of any particular question or matter coming before meetings of the stockholders. See Louisiana Revised Statutes 6:201
• Voting power present: means that part of the voting power exercisable by the stockholders present in person or represented by proxy at the meeting at which the stockholders take action on a particular question or matter. See Louisiana Revised Statutes 6:201