Terms Used In Louisiana Revised Statutes > Title 12 > Chapter 27 > Part III - Accountability

• 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
• 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}
• Benefit enforcement proceeding: means any claim or action for one or both of the following:

  (a)  Failure of a benefit corporation to pursue or create general public benefit or a specific public benefit set forth in its articles. See Louisiana Revised Statutes 12:1803

• Benefit officer: means the individual designated as the benefit officer of a benefit corporation pursuant to La. See Louisiana Revised Statutes 12:1803
• Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
• General public benefit: means a material positive impact on society and the environment, taken as a whole, assessed against a third-party standard, from the business and operations of a benefit corporation. See Louisiana Revised Statutes 12:1803
• Independent: means having no material relationship with a benefit corporation or a subsidiary of the benefit corporation. See Louisiana Revised Statutes 12:1803
• Specific public benefit: means any of the following:

  (a)  Serving low-income or underserved individuals or communities. See Louisiana Revised Statutes 12:1803