Terms Used In Louisiana Revised Statutes > Title 11 > Subtitle II > Chapter 1 > Part VII > Subpart B - Wildlife Agents

• Affiliate: means any person who controls, is controlled by, or is under common control with a developer. See Louisiana Revised Statutes 9:1131.2
• 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.
• Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
• 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.
• Board: means the Board of Trustees of the Louisiana State Employees' Retirement System. See Louisiana Revised Statutes 11:403
• Common elements: means all portions of timeshare property other than units. See Louisiana Revised Statutes 9:1131.2
• Completion of construction: means :

  (a)(i)  That a certificate of occupancy has been issued for the entire building in which the timeshare interest being sold is located, or for the improvement, or that the equivalent authorization has been issued, by the governmental body having jurisdiction; or

  (ii)  In a jurisdiction in which no certificate of occupancy or equivalent authorization is issued, that the construction, finishing, and equipping of the building or improvements according to the plans and specifications have been substantially completed; and

  (b)  That all accommodations of the timeshare unit and facilities of the timeshare plan are available for use in a manner identical in all material respects to the manner portrayed by the promotional material, advertising, and public offering statements filed with the Louisiana Real Estate Commission. See Louisiana Revised Statutes 9:1131.2

• Contract: includes any agreement conferring the rights and obligations of a timeshare ownership on the purchaser. See Louisiana Revised Statutes 9:1131.2
• Contract: A legal written agreement that becomes binding when signed.
• Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
• declaration: means the instrument by which the timeshare property is made subject to a timeshare plan. See Louisiana Revised Statutes 9:1131.2
• Dependent: A person dependent for support upon another.
• Developer: means the person, or any successor or assignee of such person, who creates the timeshare plan or who is in the business of making sales of timeshare interests which it owns or purports to own. See Louisiana Revised Statutes 9:1131.2
• Employee: means any person legally occupying a position in the state service. See Louisiana Revised Statutes 11:403
• 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.
• Escrow: Money given to a third party to be held for payment until certain conditions are met.
• Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
• Exchange company: means the person operating a program providing any opportunity or procedure for the assignment or exchange of timeshare interests among owners and purchasers in the same or other timeshare plans. See Louisiana Revised Statutes 9:1131.2
• 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.
• Fiduciary: A trustee, executor, or administrator.
• 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}
• Injunction: An order of the court prohibiting (or compelling) the performance of a specific act to prevent irreparable damage or injury.
• Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
• Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). ^{Source: OCC}
• Lease timeshare interest: means an interest in which a person receives the right to use or occupy, however evidenced or documented, immovable property for a period of time or intervals of time which can be less than a full year during each year, over a period of more than three years. See Louisiana Revised Statutes 9:1131.2
• Lien: A claim against real or personal property in satisfaction of a debt.
• Managing entity: means an entity with the duty to manage and operate the timeshare plan and/or the timeshare property. See Louisiana Revised Statutes 9:1131.2
• Member: means any person included in the membership of the system. See Louisiana Revised Statutes 11:403
• Minor child: means an unmarried child under the age of eighteen years or an unmarried student under the age of twenty-three years who is the issue of a marriage of a member of this system, the legally adopted child of a member of this system, a child born outside of marriage of a female member of this system, or the child of a male member of this system if acknowledged or filiated pursuant to the provisions of the Civil Code. See Louisiana Revised Statutes 11:403
• 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.
• 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.
• Owner: means any person who owns or is a co-owner of a timeshare interest. See Louisiana Revised Statutes 9:1131.2
• Ownership timeshare interest: means an interest in which a person receives the right to use or occupy, however evidenced or documented, immovable property for a period of less than a full year during each year, over a period of more than three years, coupled with an ownership interest in immovable property. See Louisiana Revised Statutes 9:1131.2
• Person: means an individual, partnership, corporation, or other legal entity. See Louisiana Revised Statutes 9:1131.2
• person: includes a body of persons, whether incorporated or not. See Louisiana Revised Statutes 1:10
• Project: includes but is not limited to condominiums and cooperative housing corporations. See Louisiana Revised Statutes 9:1131.2
• Purchaser: means any person to whom a timeshare interest is offered or who has contracted to purchase a timeshare interest. See Louisiana Revised Statutes 9:1131.2
• Quorum: The number of legislators that must be present to do business.
• Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.
• 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.
• Retirement: means termination of active service, with a retirement allowance granted under the provisions of this Chapter. See Louisiana Revised Statutes 11:403
• Service of process: The service of writs or summonses to the appropriate party.
• Spouse: means a person who is legally married to a member of this system. See Louisiana Revised Statutes 11:403
• State: means the state of Louisiana. See Louisiana Revised Statutes 11:403
• Statute: A law passed by a legislature.
• System: means the Louisiana State Employees' Retirement System. See Louisiana Revised Statutes 11:403
• Termination: means complete cessation of employment with the state. See Louisiana Revised Statutes 11:403
• Timeshare association: means a corporation owned by the timeshare interest owners and through which the timeshare interest owners manage and regulate the timeshare property. See Louisiana Revised Statutes 9:1131.2
• Timeshare documents: means all of the documents, by whatever names denominated, and any amendments thereto, which establish the timeshare plan, create and govern the rights and relationships of owners, and govern the use and operation of the timeshare property. See Louisiana Revised Statutes 9:1131.2
• Timeshare expenses: means any expenditures, fees, charges, or other liabilities for which an owner of a timeshare interest is liable as a result of the ownership of the timeshare interest. See Louisiana Revised Statutes 9:1131.2
• Timeshare interest: means an ownership "timeshare interest" a lease timeshare interest, a timeshare estate, and a timeshare use unless expressly provided otherwise and includes any of the following:

  (a)  A "timeshare estate" which is the right to occupy a timeshare property, coupled with present ownership or some right to future ownership in a timeshare property or a specified portion thereof. See Louisiana Revised Statutes 9:1131.2

• Timeshare plan: means any arrangement, plan, scheme, or similar device, other than an exchange program, whether by membership agreement, sale, lease, license, other act of conveyance, or right-to-use agreement or by any other means, whereby a purchaser, in exchange for consideration, receives ownership rights in or the right to use accommodations for a period of time less than a full year during any given year, but not necessarily for consecutive years. See Louisiana Revised Statutes 9:1131.2
• Timeshare property: means one or more timeshare units subject to the same timeshare plan, together with any common elements or any other immovable property, or rights therein, appurtenant to those units. See Louisiana Revised Statutes 9:1131.2
• Timeshare unit: means a unit which is the subject of a timeshare plan. See Louisiana Revised Statutes 9:1131.2
• Trustee: A person or institution holding and administering property in trust.
• Unit: means immovable property, or a portion thereof, designated for separate occupancy. See Louisiana Revised Statutes 9:1131.2