Terms Used In Louisiana Revised Statutes > Title 17 > Chapter 11 - Taxation and Fiscal Affairs

• Accident: means an unexpected or unforeseen actual, identifiable, precipitous event happening suddenly or violently, with or without human fault, and directly producing at the time objective findings of an injury which is more than simply a gradual deterioration or progressive degeneration. See Louisiana Revised Statutes 23:1021
• Acquittal:
  1. Judgement that a criminal defendant has not been proved guilty beyond a reasonable doubt.
  2. A verdict of "not guilty."
   
• Activities: means marketing, promotions, sales efforts, events, and any other services that are reasonably related to the enhancement of tourism. See Louisiana Revised Statutes 33:4600.3
• Affiliated company: means a company in the same corporate system as its parent or a member organization by virtue of common ownership, control, operation or management. See Louisiana Revised Statutes 22:550.2
• 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.
• Amortization: Paying off a loan by regular installments.
• Appraisal: A determination of property value.
• Articles: means the original articles of incorporation and all amendments thereto including those contained in merger agreements or, if restated, the latest restatement thereof except in those instances in which the context refers expressly to the original articles of incorporation only. See Louisiana Revised Statutes 6:201
• Assessment: means the levy imposed pursuant to this Chapter. See Louisiana Revised Statutes 33:4600.3
• Assets: means all of a state bank's property and rights of every kind. See Louisiana Revised Statutes 6:201
• Association: means a legal entity consisting of two or more corporations, partnerships, associations or other forms of business organizations that are engaged in businesses or activities similar or related to a common business, trade, product, services, premises or operations. See Louisiana Revised Statutes 22:550.2
• Association captive insurer: means any company that insures only the risks of the member organizations of the association, affiliated companies of the member organizations, and the risks of the association itself. See Louisiana Revised Statutes 22:550.2
• 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.
• Bequest: Property gifted by will.
• Board: means Louisiana Gaming Control Board. See Louisiana Revised Statutes 27:353
• board of supervisors: means the governing board of the district or, if such board has been abolished, the board, body, or commission succeeding to the principal functions thereof or to whom the powers given to the board by this Chapter have been given by law. See Louisiana Revised Statutes 33:9039.13
• Bond: includes "certificate" and the provisions which are applicable to bonds are equally applicable to certificates. See Louisiana Revised Statutes 33:9039.13
• Business: means any type of tourism business, including but not limited to any tourist home, hotel, motel, or trailer court accommodations, recreational vehicle park, privately owned or managed campgrounds, other lodging intended for short-term occupancy, restaurant, tourism attraction, activity provider, and other tourism businesses that benefit from the visitor economy. See Louisiana Revised Statutes 33:4600.3
• Business owner: means any person recognized by the tourist commissioners as the owner of the business subject to assessment. See Louisiana Revised Statutes 33:4600.3
• Capital: means the sum of capital stock, surplus, and undivided profits or, as to mutual state banks, as defined by La. See Louisiana Revised Statutes 6:201
• Capital stock: means the sum of the par value of the shares outstanding plus any amounts in excess of par value transferred from surplus to capital stock in respect of such shares less any part of such amounts transferred from capital stock to surplus as permitted by this Chapter. See Louisiana Revised Statutes 6:201
• Captive insurer: means any pure captive insurer or association captive insurer formed or licensed under the provisions of this Subpart. See Louisiana Revised Statutes 22:550.2
• Cash equivalents: means any short-term, highly liquid investments that are both (a) readily convertible to known amounts of cash, and (b) so near their maturity that they present insignificant risk of changes in value due to changes in interest rates. See Louisiana Revised Statutes 22:550.2
• Charity: An agency, institution, or organization in existence and operating for the benefit of an indefinite number of persons and conducted for educational, religious, scientific, medical, or other beneficent purposes.
• Clerk of court: An officer appointed by the court to work with the chief judge in overseeing the court's administration, especially to assist in managing the flow of cases through the court and to maintain court records.
• Commission: means the Louisiana Workforce Commission. See Louisiana Revised Statutes 23:1
• Commissioner: means the commissioner of insurance. See Louisiana Revised Statutes 22:550.2
• Cost: when used with reference to any project, includes but is not limited to:

  (a)  The expenses of determining the feasibility or practicability of acquisition, construction, or reconstruction. See Louisiana Revised Statutes 33:9039.13

• Department: means the Department of Insurance. See Louisiana Revised Statutes 22:550.2
• Deposition: An oral statement made before an officer authorized by law to administer oaths. Such statements are often taken to examine potential witnesses, to obtain discovery, or to be used later in trial.
• Devise: To gift property by will.
• Dismissal: The dropping of a case by the judge without further consideration or hearing. ^Source:
• district: means a special district as provided in La. See Louisiana Revised Statutes 33:9039.13
• District manager: means the manager of the district. See Louisiana Revised Statutes 33:9039.13
• Docket: A log containing brief entries of court proceedings.
• Document: means any written or otherwise tangible material intended to be or actually used as a part of or any evidence of the work history of any school employee including but not limited to any and all reports, comments, reprimands, correspondence, memoranda, evaluations, observations, and grievances relative to a particular school employee. See Louisiana Revised Statutes 17:1233
• Dyslexia: means an unexpected difficulty in reading for an individual who has the intelligence to be a much better reader, most commonly caused by a difficulty in phonological processing, which affects the ability of an individual to speak, read, and spell. See Louisiana Revised Statutes 17:392.11
• Educational accountability: means the respective responsibilities and duties, under the provisions of this Part, of local school boards, administrators, principals, teachers, and other personnel; the state Department of Education and its personnel; parents, students, and any other governing authority. See Louisiana Revised Statutes 17:391.2
• Eligible facility: means no more than one facility in St. See Louisiana Revised Statutes 27:353
• En banc: In the bench or "full bench." Refers to court sessions with the entire membership of a court participating rather than the usual quorum. U.S. courts of appeals usually sit in panels of three judges, but may expand to a larger number in certain cases. They are then said to be sitting en banc.
• Escrow: Money given to a third party to be held for payment until certain conditions are met.
• Executor: A male person named in a will to carry out the decedent
• Federal Reserve System: The central bank of the United States. The Fed, as it is commonly called, regulates the U.S. monetary and financial system. The Federal Reserve System is composed of a central governmental agency in Washington, D.C. (the Board of Governors) and twelve regional Federal Reserve Banks in major cities throughout the United States. ^{Source: OCC}
• Fiduciary: A trustee, executor, or administrator.
• Fiduciary: means any person, firm, partnership, association, or state bank, including a usufructuary, who or which occupies a position of peculiar confidence toward any person, firm, association, partnership, trust, or estate. See Louisiana Revised Statutes 6:201
• Fixed Rate: Having a "fixed" rate means that the APR doesn't change based on fluctuations of some external rate (such as the "Prime Rate"). In other words, a fixed rate is a rate that is not a variable rate. A fixed APR can change over time, in several circumstances:
  • You are late making a payment or commit some other default, triggering an increase to a penalty rate
  • The bank changes the terms of your account and you do not reject the change.
  • The rate expires (if the rate was fixed for only a certain period of time).
• Fraud: Intentional deception resulting in injury to another.
• Governing authority: means the city council for the city of Central. See Louisiana Revised Statutes 19:371
• Grand jury: agreement providing that a lender will delay exercising its rights (in the case of a mortgage,
• Hazardous financial condition: means that, based upon its present or reasonably anticipated financial condition, a captive insurer, although not yet financially impaired or insolvent, is unlikely to be able to:

              (a) Meet obligations to policyholders with respect to known claims and reasonably anticipated claims. See Louisiana Revised Statutes 22:550.2

• Health care provider: means a hospital, a person, corporation, facility, or institution licensed by the state to provide health care or professional services as a physician, hospital, dentist, registered or licensed practical nurse, pharmacist, optometrist, podiatrist, chiropractor, physical therapist, occupational therapist, psychologist, graduate social worker or licensed clinical social worker, psychiatrist, or licensed professional counselor, and any officer, employee, or agent thereby acting in the course and scope of his employment. See Louisiana Revised Statutes 23:1021
• Improvement: means the acquisition, construction, installation, or maintenance of any corporeal property with an estimated useful life of five years or more that is reasonably related to the enhancement of tourism. See Louisiana Revised Statutes 33:4600.3
• Indictment: The formal charge issued by a grand jury stating that there is enough evidence that the defendant committed the crime to justify having a trial; it is used primarily for felonies.
• Intangible property: Property that has no intrinsic value, but is merely the evidence of value such as stock certificates, bonds, and promissory notes.
• Inter vivos: Transfer of property from one living person to another living person.
• 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}
• Interrogatories: Written questions asked by one party of an opposing party, who must answer them in writing under oath; a discovery device in a lawsuit.
• Issued shares: means outstanding shares. See Louisiana Revised Statutes 6:201
• Juror: A person who is on the jury.
• Landowner: means the owner of immovable property as it appears in the official records of the parish, including a trustee, a private corporation, and an owner of a condominium unit. See Louisiana Revised Statutes 33:9039.13
• Legal tender: coins, dollar bills, or other currency issued by a government as official money. ^{Source: U.S. Mint}
• Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
• License: means the authorization applied for by or issued to the owner of an eligible facility by the board to conduct slot machine gaming at an eligible facility issued pursuant to the provisions of this Chapter. See Louisiana Revised Statutes 27:353
• Licensee: means any person issued a license by the board. See Louisiana Revised Statutes 27:353
• Lien: A claim against real or personal property in satisfaction of a debt.
• Litigation: A case, controversy, or lawsuit. Participants (plaintiffs and defendants) in lawsuits are called litigants.
• Management plan: means a plan adopted or amended pursuant to this Chapter for the development, redevelopment, maintenance, operation, and promotion of a tourism recovery and improvement district. See Louisiana Revised Statutes 33:4600.3
• Member organization: means any corporation, partnership, association or other form of business organization that belongs to an association. See Louisiana Revised Statutes 22:550.2
• Mortgagor: The person who pledges property to a creditor as collateral for a loan and who receives the money.
• Net slot machine proceeds: means the total of all cash and property received by a licensee from slot machine gaming operations minus the amount of cash or prizes paid to winners and five million dollars annually directly attributable to promotional play wagers. See Louisiana Revised Statutes 27:353
• Office: means the office of workers' compensation administration established pursuant to La. See Louisiana Revised Statutes 23:1021
• Parent: means a corporation, limited liability company, partnership, association or other form of business organization that directly or indirectly owns, controls or holds with power to vote more than fifty-one percent of the outstanding voting securities of a captive insurer organized as a stock corporation. See Louisiana Revised Statutes 22:550.2
• Payor: means the entity responsible, whether by law or contract, for the payment of benefits incurred by a claimant as a result of a work related injury. See Louisiana Revised Statutes 23:1021
• Person: means an individual, public entity, firm, corporation, partnership, limited liability company, trust, association, or any other business entity or juridical person, whether operating on a for-profit or nonprofit basis. See Louisiana Revised Statutes 33:4600.3
• Personal property: All property that is not real property.
• Personnel file: means the file or files which contain the cumulative collection of any and all documents maintained by the school system with respect to each individual school employee. See Louisiana Revised Statutes 17:1233
• Personnel file custodian: means those persons employed by the school system charged with the duty of maintaining and preserving the personnel files. See Louisiana Revised Statutes 17:1233
• Petit jury: A group of citizens who hear the evidence presented by both sides at trial and determine the facts in dispute. Federal criminal juries consist of 12 persons. Federal civil juries consist of six persons.
• Phonological processing: means the appreciation of the individual sounds of spoken and written language. See Louisiana Revised Statutes 17:392.11
• Preliminary hearing: A hearing where the judge decides whether there is enough evidence to make the defendant have a trial.
• Presiding officer: A majority-party Senator who presides over the Senate and is charged with maintaining order and decorum, recognizing Members to speak, and interpreting the Senate's rules, practices and precedents.
• Pretrial conference: A meeting of the judge and lawyers to discuss which matters should be presented to the jury, to review evidence and witnesses, to set a timetable, and to discuss the settlement of the case.
• Project: means any development, improvement, property, utility, facility, works, enterprise, or service hereafter undertaken or established under the provisions of this Chapter. See Louisiana Revised Statutes 33:9039.13
• Property: means any portion of immovable property, including corporeal property, servitudes, rights-of-way, and other rights in or to immovable property located within the corporate limits of the city of Central. See Louisiana Revised Statutes 19:371
• Public defender: Represent defendants who can't afford an attorney in criminal matters.
• Public schools: means the public elementary and secondary schools governed by the parish and city school boards. See Louisiana Revised Statutes 17:391.2
• Pure captive insurer: means a captive insurer that insures only the risks of its parent and affiliated companies. See Louisiana Revised Statutes 22:550.2
• 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}
• 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.
• School board: means a parish or city school board. See Louisiana Revised Statutes 17:391.2
• School district: means the area of each parish or municipality under the jurisdiction of a school board. See Louisiana Revised Statutes 17:391.2
• School personnel: means the teachers, librarians, counselors, administrators, and other professional personnel of the public schools of the state including members of the professional staff of the state Department of Education. See Louisiana Revised Statutes 17:391.2
• School system: means a parish or city school system. See Louisiana Revised Statutes 17:1233
• Secretary: means the secretary of the commission. See Louisiana Revised Statutes 23:1
• Service of process: The service of writs or summonses to the appropriate party.
• Shares: means the units into which the stockholders' rights to participate in the control of the state bank, in its profits, or in the distribution of corporate assets are divided. See Louisiana Revised Statutes 6:201
• Slot machine: means any mechanical, electrical, or other device, contrivance, or machine which, upon insertion of a coin, token, or similar object therein or upon payment of any consideration whatsoever, is available to play or operate, the play or operation of which, whether by reason of the skill of the operator or application of the element of chance, or both, may deliver or entitle the person playing or operating the machine to receive cash, premiums, merchandise, tokens, or anything of value, whether the payoff is made automatically from the machine or in any other manner. See Louisiana Revised Statutes 27:353
• Slot machine gaming: means the use, operation, offering, or conducting of slot machines at an eligible facility in accordance with the provisions of this Chapter. See Louisiana Revised Statutes 27:353
• Statement: includes but is not limited to any notice, statement, proof of loss, bill of lading, receipt for payment, invoice, account, estimate of property damages, bill for services, diagnosis, prescription, hospital or doctor records, test results, X-rays, or other evidence of loss, injury, or expense. See Louisiana Revised Statutes 23:1200.2
• Stock insurer: shall mean an incorporated insurer with issued and outstanding stock whose capital and surplus is owned by its stockholders. See Louisiana Revised Statutes 22:550.2
• Stockholder: means the holder of record of one or more shares. See Louisiana Revised Statutes 6:201
• Subpoena: A command to a witness to appear and give testimony.
• Subpoena duces tecum: A command to a witness to produce documents.
• Summons: Another word for subpoena used by the criminal justice system.
• Surplus: means sums contributed by stockholders in excess of the par value of shares outstanding plus any amounts transferred from undivided profits pursuant to action by the board of directors. See Louisiana Revised Statutes 6:201
• Testify: Answer questions in court.
• Testimony: Evidence presented orally by witnesses during trials or before grand juries.
• Tort: A civil wrong or breach of a duty to another person, as outlined by law. A very common tort is negligent operation of a motor vehicle that results in property damage and personal injury in an automobile accident.
• Total voting power: means the entirety of the voting power. See Louisiana Revised Statutes 6:201
• Tourist commission: means a political subdivision created pursuant to La. See Louisiana Revised Statutes 33:4600.3
• Tourist commissioners: means the members of the governing body of a tourist commission. See Louisiana Revised Statutes 33:4600.3
• Trust account: A general term that covers all types of accounts in a trust department, such as estates, guardianships, and agencies. ^{Source: OCC}
• Trustee: A person or institution holding and administering property in trust.
• Uphold: The decision of an appellate court not to reverse a lower court decision.
• Venue: The geographical location in which a case is tried.
• Verdict: The decision of a petit jury or a judge.
• Voting power: means the right vested by law or by the articles or the bylaws in the stockholder or in one or more classes of stockholder to vote in the determination of any particular question or matter coming before meetings of the stockholders. See Louisiana Revised Statutes 6:201
• Voting power present: means that part of the voting power exercisable by the stockholders present in person or represented by proxy at the meeting at which the stockholders take action on a particular question or matter. See Louisiana Revised Statutes 6:201
• Wages: means average weekly wage at the time of the accident. See Louisiana Revised Statutes 23:1021
• Writ: A formal written command, issued from the court, requiring the performance of a specific act.