Terms Used In Louisiana Revised Statutes > Title 11 > Subtitle III > Chapter 1 - Assessors' Retirement Fund

• Accumulated employee contributions: means the sum of all amounts deducted from a member's salary and paid to the fund. See Louisiana Revised Statutes 11:1402
• Actuarial equivalent: means a benefit of equivalent value to the accumulated contributions, annuity or benefits and regular interest, as the case may be, computed on the basis of such mortality and interest tables as shall be adopted by the board of trustees in accordance with the provisions of La. See Louisiana Revised Statutes 11:1402
• Adult: means an individual who has attained the age of twenty-two years. See Louisiana Revised Statutes 9:751
• Adult-use consumable hemp product: means any consumable hemp product that contains more than 0. See Louisiana Revised Statutes 3:1481
• Affidavit: A written statement of facts confirmed by the oath of the party making it, before a notary or officer having authority to administer oaths.
• Agency: as used in this Chapter shall have the same meaning ascribed to it as provided in La. See Louisiana Revised Statutes 39:1556
• 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.
• Appellate: About appeals; an appellate court has the power to review the judgement of another lower court or tribunal.
• Applicant: means a natural person or any individual who applies on behalf of a partnership, corporation, cooperative association, limited liability company, joint stock association, sole proprietorship, joint venture, business association, professional corporation, or any other legal entity or organization through which business is conducted for a grower, processor, handler, or industrial hemp seed producer license. See Louisiana Revised Statutes 3:1462
• Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
• Arraignment: A proceeding in which an individual who is accused of committing a crime is brought into court, told of the charges, and asked to plead guilty or not guilty.
• Arrest: Taking physical custody of a person by lawful authority.
• Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
• 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
• Attachment: A procedure by which a person's property is seized to pay judgments levied by the court.
• Bail: Security given for the release of a criminal defendant or witness from legal custody (usually in the form of money) to secure his/her appearance on the day and time appointed.
• Board: means the Louisiana Industrial Hemp Promotion and Research Advisory Board. See Louisiana Revised Statutes 3:1492
• Board: means the board of trustees of the Assessors' Retirement Fund. See Louisiana Revised Statutes 11:1402
• Business: means any corporation, partnership, individual, sole proprietorship, joint stock company, joint venture, or any other legal entity through which business is conducted. See Louisiana Revised Statutes 39:1556
• Central purchasing agency: means the office of state procurement. See Louisiana Revised Statutes 39:1556
• Chief procurement officer: means the person holding the position created in La. See Louisiana Revised Statutes 39:1556
• College campus: means the premises and grounds of an institution of postsecondary education. See Louisiana Revised Statutes 9:3577.2
• Commission: means the Agricultural Chemistry and Seed Commission. See Louisiana Revised Statutes 3:1462
• Commissioner: means the commissioner of financial institutions. See Louisiana Revised Statutes 9:3577.2
• Commissioner: means the Louisiana commissioner of agriculture and forestry. See Louisiana Revised Statutes 3:1462
• Commissioner: means the commissioner of the office of alcohol and tobacco control. See Louisiana Revised Statutes 3:1481
• Commissioner: means the Louisiana commissioner of agriculture and forestry. See Louisiana Revised Statutes 3:1492
• Committee membership: Legislators are assigned to specific committees by their party. Seniority, regional balance, and political philosophy are the most prominent factors in the committee assignment process.
• 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

• Competitive sealed bidding: means the receipt of bids protected from inspection prior to bid opening. See Louisiana Revised Statutes 39:1556
• 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
• Consumable hemp processor: means any individual, partnership, corporation, cooperative association, or other business entity that receives industrial hemp for the manufacturing or processing of a consumable hemp product. See Louisiana Revised Statutes 3:1481
• Consumable hemp product: means any product derived from industrial hemp that contains any cannabinoid, including cannabidiol, and is intended for consumption or topical use. See Louisiana Revised Statutes 3:1481
• Contract: means all types of state agreements, regardless of what they may be called, including orders and documents purporting to represent grants, which are for the purchase or disposal of supplies, services, major repairs, or any other item. See Louisiana Revised Statutes 39:1556
• Contractor: means any person having a contract with a governmental body. See Louisiana Revised Statutes 39:1556
• Court: means a court of competent jurisdiction in the parish of the domicile of the minor. See Louisiana Revised Statutes 9:751
• Credit card: means a writing, number, or other evidence of an undertaking to pay for property or services delivered or rendered to or upon the order of a designated person or bearer. See Louisiana Revised Statutes 9:3577.2
• Custodial property: means any interest in property transferred to a custodian under this Subpart and the income from and proceeds of that interest in property. See Louisiana Revised Statutes 9:751
• Custodian: means a person so designated under La. See Louisiana Revised Statutes 9:751
• Data: means recorded information, regardless of form or characteristic. See Louisiana Revised Statutes 39:1556
• Declarant: means :

  (a)  If the condominium has not yet been created, any person who offers to dispose of or disposes of his interest in a unit not previously disposed of; or

  (b)  If the condominium has been created, any person who has executed a declaration, or an amendment to a declaration to add additional property to the condominium regime, other than persons holding interests in the property solely as security for a debt or persons whose interest in the property will not be conveyed to unit owners. 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.
• Department: means the Louisiana Department of Agriculture and Forestry. See Louisiana Revised Statutes 3:1462
• Department: means the Louisiana Department of Health. See Louisiana Revised Statutes 3:1481
• Designated beneficiary: means the person most recently designated in writing by a member to receive any benefits to which the member may be entitled. See Louisiana Revised Statutes 11:1402
• Designated responsible party: means a natural person designated by the applicant or licensee as responsible for facility operations of the applicant or licensee facility. See Louisiana Revised Statutes 3:1462
• Designee: means a duly authorized representative of a person holding a superior position. See Louisiana Revised Statutes 39:1556
• Electronic: means electrical, digital, magnetic, optical, electromagnet, or any other similar technology. See Louisiana Revised Statutes 39:1556
• Employee: means an individual drawing a salary from a governmental body, whether elected or not, and any nonsalaried individual performing personal services for any governmental body. See Louisiana Revised Statutes 39:1556
• Escrow: Money given to a third party to be held for payment until certain conditions are met.
• Ex officio: Literally, by virtue of one's office.
• Excess benefit participant: shall mean any member whose retirement benefit, as determined on the basis of all qualified plans without regard to the limitations of La. See Louisiana Revised Statutes 11:1492
• Executor: A male person named in a will to carry out the decedent
• 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.
• Fund: means the Assessors' Retirement Fund. See Louisiana Revised Statutes 11:1402
• Garnishment: Generally, garnishment is a court proceeding in which a creditor asks a court to order a third party who owes money to the debtor or otherwise holds assets belonging to the debtor to turn over to the creditor any of the debtor
• Governmental body: means any department, office, division, commission, council, board, bureau, committee, institution, agency, government corporation, or other establishment or official of the executive branch of state government. See Louisiana Revised Statutes 39:1556
• Grower: means any individual, partnership, corporation, cooperative association, or other business entity that is licensed by the department to cultivate industrial hemp. See Louisiana Revised Statutes 3:1462
• Handler: means any individual, partnership, corporation, cooperative association, or other business entity that handles industrial hemp. See Louisiana Revised Statutes 3:1462
• handling: means any of the following:

              (a) Transporting or delivering industrial hemp material in intrastate commerce for compensation. See Louisiana Revised Statutes 3:1462

• hemp: means the plant Cannabis sativa L. See Louisiana Revised Statutes 3:1481
• in writing: means the product of any method of forming characters on paper, other materials, or viewable screen, which can be read, retrieved, and reproduced, including information that is electronically transmitted and stored. See Louisiana Revised Statutes 39:1556
• Indemnification: In general, a collateral contract or assurance under which one person agrees to secure another person against either anticipated financial losses or potential adverse legal consequences. ^{Source: FDIC}
• Industrial hemp: means the plant Cannabis sativa L. See Louisiana Revised Statutes 3:1462
• Industrial hemp: means the same as previously defined in this Chapter. See Louisiana Revised Statutes 3:1492
• Industrial hemp seed: means Cannabis sativa L. See Louisiana Revised Statutes 3:1462
• Injunction: An order of the court prohibiting (or compelling) the performance of a specific act to prevent irreparable damage or injury.
• Institution of postsecondary education: means any institution under the management of the Board of Supervisors for the University of Louisiana System, the Board of Supervisors of Louisiana State University and Agricultural and Mechanical College, the Board of Supervisors of Southern University and Agricultural and Mechanical College, and the Board of Supervisors of Community and Technical Colleges or any private or accredited college in the state. See Louisiana Revised Statutes 9:3577.2
• 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}
• Invitation for bids: means all documents, whether attached or incorporated by reference, utilized for soliciting bids in accordance with the procedures set forth in La. See Louisiana Revised Statutes 39:1556
• 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}
• Legal representative: means an individual's personal representative or tutor. See Louisiana Revised Statutes 9:751
• Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
• Licensure: means any license that the department is authorized to issue to a grower, seed producer, processor, or handler of industrial hemp. See Louisiana Revised Statutes 3:1462
• Limited common elements: means those common elements reserved in the condominium declaration for the exclusive use of a certain unit or certain units. See Louisiana Revised Statutes 9:1121.103
• Litigation: A case, controversy, or lawsuit. Participants (plaintiffs and defendants) in lawsuits are called litigants.
• Major repairs: means those repairs payable with funds appropriated in the general appropriations act, except those funds transferred from the operating budget of one governmental body to supplement and complete a project under contract by the division of administration facility planning and control section. See Louisiana Revised Statutes 39:1556
• Maximum benefit: shall mean the retirement benefit a member is entitled to receive from the fund set forth in Part III of this Chapter, in any month after giving effect to La. See Louisiana Revised Statutes 11:1492
• Minor: means an individual who has not attained the age of twenty-two years. See Louisiana Revised Statutes 9:751
• Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
• Negotiation: means the formulation of a contractual relationship through discussions as may be allowed under this Chapter. See Louisiana Revised Statutes 39:1556
• Package: means a container or wrapping in which any consumer commodity is enclosed for the purpose of delivery or display of that commodity to retail purchasers and contains one or more servings. See Louisiana Revised Statutes 3:1481
• Performance-based sampling: means an alternative sampling method utilized by the department to ensure, at confidence level of 95%, that no more than one percent of the industrial hemp plants in each lot subject to the alternative sampling method will test above a total delta-9 THC concentration of 0. See Louisiana Revised Statutes 3:1462
• Person: as used in this Chapter means an individual or corporation, partnership, trust, association, joint venture pool, syndicate, sole proprietorship, unincorporated organization, or any other form of entity not specifically listed herein. See Louisiana Revised Statutes 9:3516
• Person: means an individual, corporation, organization, or other legal entity. See Louisiana Revised Statutes 9:751
• Person: means any business, individual, union, committee, club, or other organization or group of individuals. See Louisiana Revised Statutes 39:1556
• Personal property: All property that is not real property.
• Power of attorney: A written instrument which authorizes one person to act as another's agent or attorney. The power of attorney may be for a definite, specific act, or it may be general in nature. The terms of the written power of attorney may specify when it will expire. If not, the power of attorney usually expires when the person granting it dies. ^{Source: OCC}
• Practicable: means that which can be done or put into practice; feasible. See Louisiana Revised Statutes 39:1556
• Principal: means the amount financed or amount deferred under a consumer credit transaction. See Louisiana Revised Statutes 9:3516
• Process: means converting industrial hemp into a marketable form. See Louisiana Revised Statutes 3:1462
• Processor: means any individual, partnership, corporation, cooperative association, or other business entity that receives industrial hemp for processing into commodities or products. See Louisiana Revised Statutes 3:1462
• Procurement: means the buying, purchasing, renting, leasing, or otherwise obtaining any supplies, services, or major repairs. See Louisiana Revised Statutes 39:1556
• Procurement officer: means any person authorized by a governmental body, in accordance with procedures prescribed by regulations, to enter into and administer contracts and make written determinations and findings with respect thereto. See Louisiana Revised Statutes 39:1556
• Program: means the Louisiana Industrial Hemp Promotion and Research Program. See Louisiana Revised Statutes 3:1492
• Purchasing agency: means any governmental body which is authorized by this Chapter or its implementing regulations, or by way of delegation from the state chief procurement officer, to contract on its own behalf rather than through the central contracting authority of the office of state procurement. See Louisiana Revised Statutes 39:1556
• Remote retailer: means a person or entity who offers any consumable hemp product for sale at retail, or for any transaction of products in lieu of a sale, through a digital application, catalog, or the internet, that can be purchased and delivered directly to a consumer in Louisiana. See Louisiana Revised Statutes 3:1481
• Request for proposals: means all documents, whether attached or incorporated by reference, utilized for soliciting proposals in accordance with the procedures set forth in this Chapter. See Louisiana Revised Statutes 39:1556
• 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.
• Retailer: means a person or entity who offers any consumable hemp product for sale at retail. See Louisiana Revised Statutes 3:1481
• Reverse auction: means a competitive online solicitation process on the internet for materials, supplies, services, products, equipment, or consulting services in which vendors compete against each other online in real time in an open and interactive environment. See Louisiana Revised Statutes 39:1556
• sale at retail: means the sale or any transaction in lieu of a sale of products to the public for use or consumption but does not include the sale or any transaction in lieu of a sale of products for resale. See Louisiana Revised Statutes 3:1481
• Seed producer: means a person licensed by the department to obtain, produce, transport, and sell industrial hemp seed in the state. See Louisiana Revised Statutes 3:1462
• Service of process: The service of writs or summonses to the appropriate party.
• Services: means the furnishing of labor, time, or effort by a contractor whose primary purpose is to perform an identifiable task rather than to furnish an end item of supply. See Louisiana Revised Statutes 39:1556
• Serving: means the total amount of individual units or amount of liquid of a product recommended by the manufacturer to be consumed at a single time. See Louisiana Revised Statutes 3:1481
• Signature: means a manual or electronic signature. See Louisiana Revised Statutes 39:1556
• Social service: means work rendered by any person, firm, corporation, organization, governmental body, or governmental entity in furtherance of the general welfare of the citizens of Louisiana, including but not limited to the objectives provided for in La. See Louisiana Revised Statutes 39:1556
• Solicitation: means an act of asking, enticing, or requesting a student to read, review, or consider materials relating to an application for a credit card or to complete an application for a credit card. See Louisiana Revised Statutes 9:3577.2
• State: includes any state of the United States, the District of Columbia, the Commonwealth of Puerto Rico, and any territory or possession subject to the legislative authority of the United States. See Louisiana Revised Statutes 9:751
• State chief procurement officer: means the person holding the position created in La. See Louisiana Revised Statutes 39:1556
• State plan: means a plan required for approval by the United States Secretary of Agriculture to monitor and regulate the production of industrial hemp. See Louisiana Revised Statutes 3:1462
• State plan: means a plan required for approval by the United States Secretary of Agriculture to monitor and regulate the production of hemp. See Louisiana Revised Statutes 3:1481
• Statute: A law passed by a legislature.
• Student: means a person who is under twenty-one years of age and who attends an institution of postsecondary education, whether enrolled on a full-time or part-time basis. See Louisiana Revised Statutes 9:3577.2
• Supplies: means all property, including but not limited to equipment, materials, insurance, and leases on immovable property excluding land or a permanent interest in land. See Louisiana Revised Statutes 39:1556
• Surviving spouse: means a person who is legally married to a member of the system and living with the member at the time of his death. See Louisiana Revised Statutes 11:1402
• THC: means a combination of tetrahydrocannabinol and tetrahydrocannabinolic acid. See Louisiana Revised Statutes 3:1462
• THC: means a combination of tetrahydrocannabinol and tetrahydrocannabinolic acid. See Louisiana Revised Statutes 3:1481
• Transfer: means a transaction that creates custodial property under La. See Louisiana Revised Statutes 9:751
• Transferor: means a person who makes a transfer under this Subpart. See Louisiana Revised Statutes 9:751
• transporting: means the movement of industrial hemp from the premises of a licensee to the premises of another licensee or from the premises of a licensee to the premises of a permit holder pursuant to La. See Louisiana Revised Statutes 3:1462
• Trustee: A person or institution holding and administering property in trust.
• Unit: means a part of the condominium property subject to individual ownership. See Louisiana Revised Statutes 9:1121.103
• Unrestricted benefit: shall mean the monthly retirement benefit a member, or the spouse, child, or single dependent parent of a member, would have received under the terms of all qualified plans of the employer, except for the restrictions of La. See Louisiana Revised Statutes 11:1492
• Using agency: means any governmental body of the state which utilizes any supplies, services, or major repairs purchased under this Chapter. See Louisiana Revised Statutes 39:1556
• Wholesaler: means a wholesale seller, distributor, or packer of consumable hemp products. See Louisiana Revised Statutes 3:1481