Louisiana Revised Statutes > Title 12 > Chapter 1 > Part 6 > Subpart B – Issuance of Shares
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Terms Used In Louisiana Revised Statutes > Title 12 > Chapter 1 > Part 6 > Subpart B - Issuance of Shares
- Association: means a savings association, thrift institution, homestead, building and loan association, savings and loan association, or society, including both capital stock and mutual associations. See Louisiana Revised Statutes 6:703
- Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
- Commissioner: means the commissioner of financial institutions, of the state of Louisiana, in his capacity as supervisor of associations. See Louisiana Revised Statutes 6:703
- Contract: A legal written agreement that becomes binding when signed.
- Conviction: A judgement of guilt against a criminal defendant.
- Decedent: A deceased person.
- Dependent: A person dependent for support upon another.
- Depositor: means a holder of a savings, demand, or other type of deposit account of an association. See Louisiana Revised Statutes 6:703
- 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.
- Executor: A male person named in a will to carry out the decedent
- Fiduciary: A trustee, executor, or administrator.
- Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
- Intangible property: Property that has no intrinsic value, but is merely the evidence of value such as stock certificates, bonds, and promissory notes.
- 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.
- Member: means a person or entity holding a savings or demand account of or shares of a mutual association, and may include a person borrowing from or assuming or obligated upon a loan or interest therein held by such association if such is authorized by the charter or the bylaws of the association. See Louisiana Revised Statutes 6:703
- person: includes a body of persons, whether incorporated or not. See Louisiana Revised Statutes 1:10
- Quorum: The number of legislators that must be present to do business.
- Savings account: means an account to which earnings, including interest, is paid or accrued. See Louisiana Revised Statutes 6:703
- Share: means any share, certificate, security, account, or other evidence of funds invested in a mutual association by a member thereof, other than a savings or demand account. See Louisiana Revised Statutes 6:703
- Statute: A law passed by a legislature.
- Stock: means capital stock of a capital stock association. See Louisiana Revised Statutes 6:703
- Trustee: A person or institution holding and administering property in trust.
- Withdrawal value: means the amount credited to the shares of a member or to a savings or demand account, less lawful deductions therefrom, as shown on the records of the association. See Louisiana Revised Statutes 6:703