Terms Used In Louisiana Revised Statutes > Title 17 > Chapter 4 > Part IV - Miscellaneous Provisions

• 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.
• Answer: The formal written statement by a defendant responding to a civil complaint and setting forth the grounds for defense.
• Arrest: Taking physical custody of a person by lawful authority.
• 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
• Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
• 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.
• Business entity: shall mean a corporation, association, partnership, limited liability company, limited liability partnership, or other legal entity. See Louisiana Revised Statutes 22:1542
• 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
• 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: shall mean a fee paid to an insurance producer as a percentage of the premium generated by a sold insurance policy, or direct compensation or reward of a producer when the same is calculated as a flat fee or as a percentage of the premium or on the profit to the principal. See Louisiana Revised Statutes 22:1542
• Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
• Credit report: A detailed report of an individual's credit history prepared by a credit bureau and used by a lender in determining a loan applicant's creditworthiness. ^{Source: OCC}
• Defendant: In a civil suit, the person complained against; in a criminal case, the person accused of the crime.
• Discovery: Lawyers' examination, before trial, of facts and documents in possession of the opponents to help the lawyers prepare for trial.
• 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}
• Fair Credit Reporting Act: A federal law, established in 1971 and revised in 1997, that gives consumers the right to see their credit records and correct any mistakes. ^{Source: OCC}
• Insurance: shall mean any of the lines of authority as specified in La. See Louisiana Revised Statutes 22:1542
• Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
• License: shall mean a document issued by this state's commissioner of insurance authorizing a person to act as an insurance producer for the lines of authority specified in the document. See Louisiana Revised Statutes 22:1542
• Lien: A claim against real or personal property in satisfaction of a debt.
• Limited line credit insurance: includes credit life, as defined in La. See Louisiana Revised Statutes 22:1542
• Limited lines producer: shall mean an insurance producer authorized by the commissioner of insurance to sell, solicit, or negotiate limited lines insurance. See Louisiana Revised Statutes 22:1542
• Mortgagee: The person to whom property is mortgaged and who has loaned the money.
• Mortgagor: The person who pledges property to a creditor as collateral for a loan and who receives the money.
• NAIC: shall mean the National Association of Insurance Commissioners or its successor. See Louisiana Revised Statutes 22:1542
• Negotiate: shall mean to confer directly with or to offer advice directly to a purchaser, certificate holder, or enrollee, or prospective purchaser, certificate holder, or enrollee, of a particular contract of insurance, including certificates, riders, endorsements, or amendments, concerning any of the benefits, terms, or conditions of the contract if the person engaged in that act is an insurance producer who either sells insurance or obtains insurance from insurers for purchasers, certificate holders, or enrollees. See Louisiana Revised Statutes 22:1542
• Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
• 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: shall mean any natural or artificial legal entity including but not limited to individuals, partnerships, associations, trusts, or corporations. See Louisiana Revised Statutes 22:1542
• Policy: means an automobile liability, automobile physical damage, or automobile collision policy, or any combination thereof, delivered or issued for delivery in this state, or any binder based on such a policy, insuring a single individual or husband and wife resident of the same household, as named insured, and under which the insured vehicles therein designated are of the following types only:

              (a) A private passenger vehicle that is not used as a public or livery conveyance for passengers, nor rented to others. See Louisiana Revised Statutes 22:1266

• Probate: Proving a will
• producer: shall mean a person required to be licensed under the laws of this state to sell, solicit, or negotiate insurance, and includes all persons or business entities otherwise referred to in this Code as "insurance agent" or "agent" or "insurance broker" or "broker" or "insurance solicitor" or "solicitor" or "surplus lines broker". See Louisiana Revised Statutes 22:1542
• property: means any portion of immovable property, including servitudes, rights of way, and other rights in or to immovable property; the term "governing authority" means the governing authority of the city of Pineville; and the term "project" means the Susek Drive Project. See Louisiana Revised Statutes 19:138
• Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.
• Sell: shall mean to exchange a contract of insurance by any means, for money or its equivalent, on behalf of an insurer. See Louisiana Revised Statutes 22:1542
• 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
• Solicit: shall mean to attempt to sell insurance or to ask or urge a person to apply for a particular kind of insurance from a particular insurer. See Louisiana Revised Statutes 22:1542
• Stockholder: means the holder of record of one or more shares. See Louisiana Revised Statutes 6:201
• Surplus lines broker: shall mean an insurance producer who solicits, negotiates, or procures a policy with a surplus lines insurer. See Louisiana Revised Statutes 22:1542
• Trial: A hearing that takes place when the defendant pleads "not guilty" and witnesses are required to come to court to give evidence.
• Uniform application: shall mean the current version of the NAIC Uniform Application for resident and nonresident producer licensing. See Louisiana Revised Statutes 22:1542
• Uniform Business Entity Application: shall mean the current version of the NAIC Uniform Business Entity Application for resident and nonresident business entities. See Louisiana Revised Statutes 22:1542
• 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
• Writ: A formal written command, issued from the court, requiring the performance of a specific act.