§ 13:5121 Definitions
§ 13:5122 Law applicable; legislative intent
§ 13:5123 Proceedings by governmental unit to establish validity; procedure; parties defendant
§ 13:5124 Service by publication of motion for judgment; parties defendant; notification
§ 13:5125 Contesting issuance of bonds or action taken with respect to source of payment therefor; notice and hearing; service on member of governing body
§ 13:5126 Answer by party defendant; intervention by interested parties; determination of questions; orders; precedence over other business
§ 13:5127 Consolidation of actions or proceedings
§ 13:5128 Appeals
§ 13:5129 Decree validating bonds binding and conclusive
§ 13:5130 Bonds invalidated only for substantial defects; matters of form disregarded

Terms Used In Louisiana Revised Statutes > Title 13 > Chapter 32 > Part XVI - Suits to Determine Validity of Governmental Bonds

  • Adoption date: means the date as of which the board of directors of the reorganizing mutual initially approves and adopts the plan of reorganization. See Louisiana Revised Statutes 22:236
  • Affiliate: means a person who directly, or indirectly through one or more intermediaries, controls or is controlled by or is under common control with the person specified. See Louisiana Revised Statutes 22:236
  • Affirmed: In the practice of the appellate courts, the decree or order is declared valid and will stand as rendered in the lower court.
  • Answer: The formal written statement by a defendant responding to a civil complaint and setting forth the grounds for defense.
  • Appellate: About appeals; an appellate court has the power to review the judgement of another lower court or tribunal.
  • Commissioner: means the commissioner of insurance, or his deputy, or the Department of Insurance, as appropriate. See Louisiana Revised Statutes 22:236
  • Control: has the meaning set forth in La. See Louisiana Revised Statutes 22:236
  • Dividend protections: means provisions in a plan of reorganization designed to protect, through a closed block or other means, the reasonable dividend expectations of policyholders who own individual, dividend-paying policies. See Louisiana Revised Statutes 22:236
  • Docket: A log containing brief entries of court proceedings.
  • Effective date: means the date upon which the reorganization of the reorganizing mutual is effective, as provided in La. See Louisiana Revised Statutes 22:236
  • Eligible member: means a person who, on the adoption date, owns, or is deemed by the plan of reorganization to own, a policy of a mutual insurer or a reorganized insurer that is, or that is deemed by the plan of reorganization to be, in force with such insurer on such adoption date, or a person who is deemed eligible by the plan of reorganization. See Louisiana Revised Statutes 22:236
  • Equitable: Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy. See damages. A separate court of "equity" could order someone to do something or to cease to do something. See, e.g., injunction. In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases. Source: U.S. Courts
  • Fraud: Intentional deception resulting in injury to another.
  • Governing body: means the board or body in which the bond issuing power of a governmental unit is vested. See Louisiana Revised Statutes 13:5121
  • Governmental unit: means the state of Louisiana, municipalities, parishes, parish and municipal school boards and districts, levee boards and districts, housing authorities, bridge authorities, community improvement agencies, redevelopment agencies, all other political subdivisions of the state, public trusts, corporations, districts, boards, authorities, agencies, and units of local government and nonprofit corporations created by or governed by the governing authorities of parishes or municipalities, any special service districts, such as water, sewerage, garbage, and lighting districts created by or pursuant to legislative acts and any other districts, boards, authorities, and agencies of the state of Louisiana authorized to issue bonds. See Louisiana Revised Statutes 13:5121
  • Injunction: An order of the court prohibiting (or compelling) the performance of a specific act to prevent irreparable damage or injury.
  • 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
  • Member: means : (a) with respect to a mutual insurer, a policyholder who owns or is deemed by the plan of reorganization to own a policy of the mutual insurer; or (b) with respect to a mutual insurance holding company, a member of such mutual insurance holding company, as defined in such company's articles of incorporation and bylaws or as defined in the plan of reorganization. See Louisiana Revised Statutes 22:236
  • Outlays: Outlays are payments made (generally through the issuance of checks or disbursement of cash) to liquidate obligations. Outlays during a fiscal year may be for payment of obligations incurred in prior years or in the same year.
  • Parent corporation: means a stock corporation that is or has been organized for the purpose of acquiring, directly or indirectly, all of the common shares of a reorganized insurer. See Louisiana Revised Statutes 22:236
  • Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
  • Person: means an individual, a corporation, a partnership, an association, a joint stock company, a trust, an unincorporated organization, a limited liability company, a limited liability partnership, a government or governmental agency, a state or political subdivision of a state, board, estate, trustee or fiduciary, or any other legal entity. See Louisiana Revised Statutes 22:236
  • Personal property: All property that is not real property.
  • Plaintiff: The person who files the complaint in a civil lawsuit.
  • Plan of reorganization: means the plan of reorganization adopted by the reorganizing mutual in compliance with this Subpart. See Louisiana Revised Statutes 22:236
  • Pleadings: Written statements of the parties in a civil case of their positions. In the federal courts, the principal pleadings are the complaint and the answer.
  • Policy: means an individual or group policy of insurance or annuity contract issued, or deemed by the plan of reorganization to have been issued, by a mutual insurer or by a reorganized insurer. See Louisiana Revised Statutes 22:236
  • Policyholder: means a person who, on the basis of the records and the organizational documents of the mutual insurer or reorganized insurer, is deemed to be a policyholder of such insurer. See Louisiana Revised Statutes 22:236
  • Precedent: A court decision in an earlier case with facts and law similar to a dispute currently before a court. Precedent will ordinarily govern the decision of a later similar case, unless a party can show that it was wrongly decided or that it differed in some significant way.
  • Quorum: The number of legislators that must be present to do business.
  • Recourse: An arrangement in which a bank retains, in form or in substance, any credit risk directly or indirectly associated with an asset it has sold (in accordance with generally accepted accounting principles) that exceeds a pro rata share of the bank's claim on the asset. If a bank has no claim on an asset it has sold, then the retention of any credit risk is recourse. Source: FDIC
  • Reorganized company: means either: (a) a reorganized insurer resulting from the reorganization of a mutual insurer under this Subpart; or (b) a reorganized insurance holding company. See Louisiana Revised Statutes 22:236
  • Reorganized insurance holding company: means a former mutual insurance holding company reorganized as a stock insurance holding company, or a stock insurance holding company into which a mutual insurance holding company has been merged, pursuant to a plan of reorganization under this Subpart. See Louisiana Revised Statutes 22:236
  • Reorganized insurer: means the following:

                (a) With respect to a conversion of a mutual insurer under this Subpart, the domestic stock insurer into which a mutual insurer is being or has been reorganized. See Louisiana Revised Statutes 22:236

  • Reorganizing mutual: means a mutual insurer or mutual insurance holding company that is reorganizing pursuant to this Subpart. See Louisiana Revised Statutes 22:236