Terms Used In Louisiana Revised Statutes > Title 22 > Chapter 2 > Part III - Financial Solvency and Reporting Requirements

• Acceptable collateral: means any of the following:

              (a) As to securities lending transactions, and for the purpose of calculating counterparty exposure amount, cash, cash equivalents, letters of credit, direct obligations of, or securities that are fully guaranteed as to principal and interest by, the government of the United States or any agency of the United States, or by the Federal National Mortgage Association or the Federal Home Loan Mortgage Corporation, or any state or territory of the United States or the District of Columbia and as to lending foreign securities, sovereign debt rated one by the SVO. See Louisiana Revised Statutes 22:601.1

• Addictive disorder: is a primary, chronic neurobiologic disease with genetic, psychosocial, and environmental factors influencing its development and manifestations. See Louisiana Revised Statutes 28:2
• Adjusted risk-based capital report: means a risk-based capital report which has been adjusted by the commissioner in accordance with La. See Louisiana Revised Statutes 22:631
• administrator: means a person in charge of a treatment facility or his deputy. See Louisiana Revised Statutes 28:2
• Admitted assets: means assets permitted to be reported as admitted assets on the statutory financial statement of the insurer most recently required to be filed with the commissioner, but excluding assets of separate accounts, the investments of which are not subject to the provisions of this Subpart. See Louisiana Revised Statutes 22:601.1
• advisory evacuation: means an evacuation that may be ordered when a disaster or emergency has been declared and evacuation is recommended due to the potential for rapidly changing conditions to develop into a serious threat and all persons in designated evacuation areas are recommended to consider relocating to safer locations for their own safety. See Louisiana Revised Statutes 29:723
• Affidavit: A written statement of facts confirmed by the oath of the party making it, before a notary or officer having authority to administer oaths.
• Affiliate: means , as to any person, another person that, directly or indirectly through one or more intermediaries, controls, is controlled by, or is under common control with the person. See Louisiana Revised Statutes 22:601.1
• Affiliate: means a person that 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 22:691.2
• Amortization: Paying off a loan by regular installments.
• Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year.
• Appellate: About appeals; an appellate court has the power to review the judgement of another lower court or tribunal.
• Appraisal: A determination of property value.
• 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
• Asset-backed security: means a security or other instrument, excluding a mutual fund and mortgage-backed securities, evidencing an interest in, or the right to receive payments from, or payable from distributions on, an asset, a pool of assets or specifically divisible cash flows which are legally transferred to a trust or another special purpose bankruptcy-remote business entity, on both of the following conditions:

              (a) The trust or other business entity is established solely for the purpose of acquiring specific types of assets or rights to cash flows, issuing securities and other instruments representing an interest in or right to receive cash flows from those assets or rights, and engaging in activities required to service the assets or rights and any credit enhancement or support features held by the trust or other business entity. See Louisiana Revised Statutes 22:601.1

• Assets: means all of a state bank's property and rights of every kind. See Louisiana Revised Statutes 6:201
• Attorney-in-fact: A person who, acting as an agent, is given written authorization by another person to transact business for him (her) out of court.
• Authorized-control level risk-based capital: means the number determined under the risk-based capital formula in accordance with the risk-based capital instructions. See Louisiana Revised Statutes 22:631
• 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.
• 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.
• Behavioral health: is a term used to refer to both mental health and substance use. See Louisiana Revised Statutes 28:2
• Board: means Louisiana Gaming Control Board. See Louisiana Revised Statutes 27:353
• Board: means the Louisiana Public Defender Board authorized to regulate public defender services. See Louisiana Revised Statutes 15:143
• Bond: includes "certificate" and the provisions which are applicable to bonds are equally applicable to certificates. See Louisiana Revised Statutes 33:9039.13
• bonds: includes the following:

              (a) United States Treasury securities. See Louisiana Revised Statutes 22:601.1

• Budget authority: Authority provided by law to enter into obligations that will result in outlays of Federal funds. Budget authority may be classified by the period of availability (one-year, multiyear, no-year), by the timing of congressional action (current or permanent), or by the manner of determining the amount available (definite or indefinite).
• Business entity: includes a sole proprietorship, corporation, limited liability company, association, partnership, joint stock company, joint venture, mutual fund, trust, joint tenancy, or other similar form of business organization, whether organized for-profit or not-for-profit. See Louisiana Revised Statutes 22:601.1
• Cap: means an agreement obligating the seller to make payments to the buyer, with each payment based on the amount by which a reference price or level or the performance or value of one or more underlying interests exceeds a predetermined number, sometimes called the strike rate or strike price. See Louisiana Revised Statutes 22:601.1
• Capital and surplus: means the sum of the capital and surplus of the insurer required to be shown on the statutory financial statement of the insurer most recently required to be filed with the commissioner. See Louisiana Revised Statutes 22:601.1
• Cash equivalents: means short-term, highly rated, and highly liquid investments or securities readily convertible to known amounts of cash without penalty and so near maturity that they present insignificant risk of change in value. See Louisiana Revised Statutes 22:601.1
• chief indigent defender: means an attorney employed by or under contract with the board to supervise service providers and enforce standards and guidelines within a judicial district or multiple judicial districts. See Louisiana Revised Statutes 15:143
• Chief judge: The judge who has primary responsibility for the administration of a court but also decides cases; chief judges are determined by seniority.
• Civil forfeiture: The loss of ownership of property used to conduct illegal activity.
• Commissioner: means the commissioner of insurance. See Louisiana Revised Statutes 22:631
• Commissioner: means the commissioner of insurance, the commissioner's deputies, or the Department of Insurance, as appropriate. See Louisiana Revised Statutes 22:691.2
• Community home: means a facility certified, licensed, or monitored by the Louisiana Department of Health to provide resident services and supervision to six or fewer persons who have mental illness or developmental disabilities. See Louisiana Revised Statutes 28:477
• Company-action level risk-based capital: means two hundred percent of a company's authorized control level risk-based capital. See Louisiana Revised Statutes 22:611
• Complaint: A written statement by the plaintiff stating the wrongs allegedly committed by the defendant.
• Conservator: means the commissioner or his designee. See Louisiana Revised Statutes 6:381
• Continuance: Putting off of a hearing ot trial until a later time.
• Corrective order: means an order issued by the department specifying corrective actions which are required. See Louisiana Revised Statutes 22:611
• Corrective order: means an order issued by the commissioner specifying corrective actions which the commissioner has determined are required. See Louisiana Revised Statutes 22:631
• 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

• Cost participation: means fees or other charges through which families share in the cost for early intervention services provided pursuant to the provisions of this Chapter. See Louisiana Revised Statutes 28:462
• Costs: includes any expense or expenditure directly or indirectly related to the sale of a good or provision of a service or the operation of the person's business. See Louisiana Revised Statutes 29:723
• Council: means the Louisiana State Interagency Coordinating Council for EarlySteps established pursuant to La. See Louisiana Revised Statutes 28:462
• Counterparty exposure amount: means :

              (a) The net amount of credit risk attributable to a derivative instrument executed with a business entity other than through a qualified exchange, qualified foreign exchange, or cleared through a qualified clearinghouse, also referred to as an "over-the-counter derivative instrument". See Louisiana Revised Statutes 22:601.1

• Court: means any duly constituted district court or court having family or juvenile jurisdiction. See Louisiana Revised Statutes 28:2
• Covered: means that an insurer owns or can immediately acquire, through the exercise of options, warrants, or conversion rights already owned, the underlying interest in order to fulfill or secure its obligations under a call option, cap, or floor it has written, or has set aside under a custodial or escrow agreement cash or cash equivalents with a market value equal to the amount required to fulfill its obligations under a put option it has written, in an income generation transaction. See Louisiana Revised Statutes 22:601.1
• critical workforce: means public safety officials, disaster response personnel, and other such employees of federal, state, and local governmental agencies, or contractors of such agencies and specific private sector employees, possessing important skills and training in emergency mitigation, preparedness, response, and recovery as designated by the parish homeland security and emergency preparedness agency or in the absence of such designation by the parish homeland security and emergency preparedness agency, such designation by the Governor's Office of Homeland Security and Emergency Preparedness. See Louisiana Revised Statutes 29:723
• Cross examine: Questioning of a witness by the attorney for the other side.
• Deed: The legal instrument used to transfer title in real property from one person to another.
• Defense attorney: Represent defendants in criminal matters.
• Department: means the Louisiana Department of Health. See Louisiana Revised Statutes 28:462
• Department: means the Louisiana Department of Health. See Louisiana Revised Statutes 28:477
• Department: means the Louisiana Department of Health. See Louisiana Revised Statutes 28:2
• Derivative instrument: means an agreement, option, instrument, or a series or combination thereof:

              (i) To make or take delivery of, or assume or relinquish, a specified amount of one or more underlying interests, or to make a cash settlement in lieu thereof. See Louisiana Revised Statutes 22:601.1

• Derivative transaction: means a transaction involving the use of one or more derivative instruments. See Louisiana Revised Statutes 22:601.1
• Designated emergency area: means the specific area, which shall be limited to the actual affected local area or parish or parishes or such areas as designated in an executive order or proclamation of the governor or parish president. See Louisiana Revised Statutes 29:723
• Designated gaming area: means the contiguous area of an eligible live racing facility at which gaming may be conducted in accordance with the provisions of this Chapter, determined by measuring the area, in square feet, inside the interior walls of the licensed eligible facility, excluding any space therein in which gaming activities may not be conducted, such as bathrooms, stairwells, cage and beverage areas, and emergency evacuation routes of any width that meet or exceed the minimum size required by law. See Louisiana Revised Statutes 27:353
• Diagnosis: means the art and science of determining the presence of disease in an individual and distinguishing one disease from another. See Louisiana Revised Statutes 28:2
• directly: when used in connection with an obligation, means that the designated obligor is primarily liable on the instrument representing the obligation. See Louisiana Revised Statutes 22:601.1
• Disaster: means the result of a natural or man-made event which causes loss of life, injury, and property damage, including but not limited to natural disasters such as hurricane, tornado, storm, flood, high winds, and other weather related events, forest and marsh fires, and man-made disasters, including but not limited to nuclear power plant incidents, hazardous materials incidents, oil spills, explosion, civil disturbances, public calamity, acts of terrorism, hostile military action, and other events related thereto. See Louisiana Revised Statutes 29:723
• Discharge: means the full or conditional release from a treatment facility of any person admitted or otherwise detained under this Chapter. See Louisiana Revised Statutes 28:2
• Dismissal: The dropping of a case by the judge without further consideration or hearing. ^Source:
• District indigent defender fund: means the judicial district indigent defender fund as provided for in La. See Louisiana Revised Statutes 15:143
• District office: means the office of a district public defender as provided for in La. See Louisiana Revised Statutes 15:143
• District roads: means highways, streets, roads, alleys, sidewalks, landscaping, storm drains, bridges, and thoroughfares of all kinds and descriptions. See Louisiana Revised Statutes 33:9039.13
• Dollar roll transaction: means two simultaneous transactions with different settlement dates no more than ninety-six days apart, so that in the transaction with the earlier settlement date, an insurer sells to a business entity, and in the other transaction the insurer is obligated to purchase from the same business entity, substantially similar securities of any of the following types:

              (a) Asset-backed securities issued, assumed, or guaranteed by the Government National Mortgage Association, the Federal National Mortgage Association, the Federal Home Loan Mortgage Corporation, or their respective successors. See Louisiana Revised Statutes 22:601.1

• Early intervention services: means developmental services that:

              (a) Are provided under public supervision. See Louisiana Revised Statutes 28:462

• Eligible facility: means no more than one facility in St. See Louisiana Revised Statutes 27:353
• Emergency: means :

              (a) The actual or threatened condition which has been or may be created by a disaster; or

              (b)(i) Any natural or man-made event which results in an interruption in the delivery of utility services to any consumer of such services and which affects the safety, health, or welfare of a Louisiana resident; or

              (ii) Any instance in which a utility's property is damaged and such damage creates a dangerous condition to the public. See Louisiana Revised Statutes 29:723

• Emergency preparedness: means the mitigation of, preparation for, response to, and the recovery from emergencies or disasters. See Louisiana Revised Statutes 29:723
• Enterprise risk: means any activity, circumstance, event, or series of events involving one or more affiliates of an insurer that, if not remedied promptly, is likely to have a material adverse effect upon the financial condition or liquidity of the insurer or its insurance holding company system as a whole, including but not limited to anything that would cause the insurer's risk-based capital to fall into company action level as set forth in La. See Louisiana Revised Statutes 22:691.2
• Equivalent securities: means :

              (a) In a securities lending transaction, securities that are identical to the loaned securities in all features including the amount of the loaned securities, except as to the certificate number if held in physical form, but if any different security shall be exchanged for a loaned security by recapitalization, merger, consolidation, or other corporate action, the different security shall be considered to be the loaned security. See Louisiana Revised Statutes 22:601.1

• Escrow: Money given to a third party to be held for payment until certain conditions are met.
• Evacuation: means an operation whereby all or part of a particular population is temporarily relocated, whether individually or in an organized manner, from an area in which a disaster or emergency has been declared and is considered dangerous for health or safety of the public. See Louisiana Revised Statutes 29:723
• Ex officio: Literally, by virtue of one's office.
• Exchange-traded fund: means funds registered as open-end investment companies or unit investment trusts under 15 U. See Louisiana Revised Statutes 22:601.1
• FDIC: means the Federal Deposit Insurance Corporation, and includes any successor to the corporation or other agency or instrumentality of the United States which may undertake to discharge the purposes of the corporation. See Louisiana Revised Statutes 6:381
• Federal reserve: means the Board of Governors of the Federal Reserve System, as provided in 12 U. See Louisiana Revised Statutes 22:691.2
• 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}
• First responders: means the first arriving organized responders with the capability and mission to contain, mitigate, and resolve the emergency at hand, including but not limited to state agency essential workers. See Louisiana Revised Statutes 29:723
• Floor: means an agreement obligating the seller to make payments to the buyer in which each payment is based on the amount by which a predetermined number, sometimes called the floor rate or price, exceeds a reference price, level, performance, or value of one or more underlying interests. See Louisiana Revised Statutes 22:601.1
• Forbearance: A means of handling a delinquent loan. A
• Forced evacuation: means an evacuation that may be ordered as a last resort when a disaster or emergency has been declared and danger of loss of life is imminent, and conditions exist that critically imperil or endanger the lives of those in a defined area. See Louisiana Revised Statutes 29:723
• Foreclosure: A legal process in which property that is collateral or security for a loan may be sold to help repay the loan when the loan is in default. ^{Source: OCC}
• Foreign currency: means a currency other than that of a domestic jurisdiction. See Louisiana Revised Statutes 22:601.1
• Foreign jurisdiction: means a jurisdiction other than a domestic jurisdiction. See Louisiana Revised Statutes 22:601.1
• Fraud: Intentional deception resulting in injury to another.
• Future: means an agreement, traded on a qualified exchange or qualified foreign exchange, to make or take delivery of, or effect a cash settlement based on the actual or expected price, level, performance, or value of, one or more underlying interests. See Louisiana Revised Statutes 22:601.1
• Government sponsored enterprise: means any of the following:

              (a) Governmental agency. See Louisiana Revised Statutes 22:601.1

• Grantor: The person who establishes a trust and places property into it.
• Group capital calculation instructions: means the group capital calculation instructions as adopted by the NAIC and as amended by the NAIC in accordance with the procedures adopted by the NAIC. See Louisiana Revised Statutes 22:691.2
• Group-wide supervisor: means the regulatory official authorized to engage in conducting and coordinating group-wide supervision activities who is determined or acknowledged by the commissioner pursuant to La. See Louisiana Revised Statutes 22:691.2
• Guaranteed or insured: when used in connection with an obligation acquired pursuant to this Subpart, means that the guarantor or insurer has agreed to one of the following:

              (a) Perform or insure the obligation of the obligor or purchase the obligation. See Louisiana Revised Statutes 22:601.1

• Guarantor: A party who agrees to be responsible for the payment of another party's debts should that party default. ^{Source: OCC}
• Guardian: means a person appointed by a court to make decisions regarding the support, care, education, health, or welfare of a person. See Louisiana Revised Statutes 17:2351
• Health organization: means a health maintenance organization licensed under Subpart I of Part I of this Chapter, a limited health service organization which bears risk, dental or vision plan which bears risk, hospital, medical and dental indemnity or service corporation which bears risk, provider-sponsored organization which bears risk, or other risk-bearing managed care organization licensed under this Title. See Louisiana Revised Statutes 22:631
• Hedging transaction: means a derivative transaction which is entered into and maintained to reduce one of the following:

              (a) The risk of a change in the value, yield, price, cash flow, or quantity of assets or liabilities which the insurer has acquired or incurred or anticipates acquiring or incurring. See Louisiana Revised Statutes 22:601.1

• Highly rated: means an investment rated "P-1" by Moody's Investors Service, Inc. See Louisiana Revised Statutes 22:601.1
• Homeland: means the state of Louisiana, and where the context requires, means the parishes of the state of Louisiana, "the United States". See Louisiana Revised Statutes 29:723
• IDEA: means the federal Individuals with Disabilities Education Act. See Louisiana Revised Statutes 28:462
• Income: means , as to a security, interest, accrual of discount, dividends, or other distributions, such as rights, tax or assessment credits, warrants and distributions in kind. See Louisiana Revised Statutes 22:601.1
• Indemnification: In general, a collateral contract or assurance under which one person agrees to secure another person against either anticipated financial losses or potential adverse legal consequences. ^{Source: FDIC}
• indigent defender: means an attorney employed by or under contract with the board, the district public defender, regional director, where applicable, or nonprofit organization contracting with the board, district public defender, regional director, where applicable, or the board to provide legal counsel to an indigent person in a criminal proceeding. See Louisiana Revised Statutes 15:143
• indigent defender services: means the providing of legal services to indigent persons in criminal proceedings in which the right to counsel attaches under the United States and Louisiana constitutions. See Louisiana Revised Statutes 15:143
• Infant or toddler with a disability: means an individual under three years of age who needs early intervention services because of either of the following:

              (i) The individual is experiencing developmental delays, as measured by appropriate diagnostic instruments and procedures in the areas of cognitive development, physical development, communication development, social or emotional development, or adaptive development. See Louisiana Revised Statutes 28:462

• Injunction: An order of the court prohibiting (or compelling) the performance of a specific act to prevent irreparable damage or injury.
• Insurance future: means a future relating to an index or pool that is based on insurance-related items. See Louisiana Revised Statutes 22:601.1
• insurance holding company system: consists of two or more affiliated persons, one or more of which is an insurer. See Louisiana Revised Statutes 22:691.2
• Internationally active insurance group: means an insurance holding company system that:

              (a) Includes an insurer registered pursuant to La. See Louisiana Revised Statutes 22:691.2

• Interoperability: means the ability of two or more systems or their components to exchange information and to use the information exchanged. See Louisiana Revised Statutes 29:723
• Investment company: means an investment company as defined in 15 U. See Louisiana Revised Statutes 22:601.1
• Investment company series: means an investment portfolio of an investment company that is organized as a series company and to which assets of the investment company have been specifically allocated. See Louisiana Revised Statutes 22:601.1
• Investment practices: means transactions of the types described in La. See Louisiana Revised Statutes 22:601.1
• Investment subsidiary: means a subsidiary of an insurer engaged or organized to engage exclusively in the ownership and management of assets authorized as investments for the insurer if each subsidiary agrees to limit its investment in any asset so that its investments will not cause the amount of the total investment of the insurer to exceed any of the investment limitations or avoid any other provisions of this Subpart applicable to the insurer. See Louisiana Revised Statutes 22:601.1
• Joint tenancy: A form of property ownership in which two or more parties hold an undivided interest in the same property that was conveyed under the same instrument at the same time. A joint tenant can sell his (her) interest but not dispose of it by will. Upon the death of a joint tenant, his (her) undivided interest is distributed among the surviving joint tenants.
• Juror: A person who is on the jury.
• Legal tender: coins, dollar bills, or other currency issued by a government as official money. ^{Source: U.S. Mint}
• 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
• Life or health and accident insurer: means any insurance company possessing a certificate of authority in the state that issues the kind of insurance listed in La. See Louisiana Revised Statutes 22:611
• Limited liability company: means a business organization, excluding partnerships and ordinary business corporations, organized or operating under the laws of the United States or any state thereof that limits the personal liability of investors to the equity investment of the investor in the business entity. See Louisiana Revised Statutes 22:601.1
• Listed bond fund: means a mutual fund, or an exchange-traded fund, that at all times is listed as eligible for reporting as a long-term bond within the Purposes and Procedures Manual of the NAIC Investment Analysis Office or any successor publication. See Louisiana Revised Statutes 22:601.1
• Local governmental subdivision: means a parish of the state of Louisiana. See Louisiana Revised Statutes 29:723
• Mandatory evacuation: means an evacuation that may be ordered when a disaster or emergency has been declared and danger is imminent, conditions exist that seriously imperil or endanger the lives of those in a defined area, and government officials strongly urge and order all persons in designated evacuation areas to relocate to safer locations for their own safety. See Louisiana Revised Statutes 29:723
• Mandatory-control level risk-based capital: means seven-tenths of a company's authorized control level risk-based capital. See Louisiana Revised Statutes 22:611
• Mandatory-control level risk-based capital: means the product of seventy hundredths and the number determined under the risk-based capital formula in accordance with the risk-based capital instructions. See Louisiana Revised Statutes 22:631
• Manufacturer: means any person who manufactures or assembles and programs slot machines for use in this state. See Louisiana Revised Statutes 27:353
• Market value: means :

              (a) As to cash and letters of credit, the amounts thereof. See Louisiana Revised Statutes 22:601.1

• Money market mutual fund: means a mutual fund that meets the conditions of 17 C. See Louisiana Revised Statutes 22:601.1
• Mortgage loan: means an obligation secured by a mortgage, deed of trust, trust deed, or other consensual lien on real estate. See Louisiana Revised Statutes 22:601.1
• Mortgage loan: A loan made by a lender to a borrower for the financing of real property. ^{Source: OCC}
• Mortgage-backed security: means debt obligations, including collateralized mortgage obligations, which represent claims to the cash flows from pools of mortgage loans made by financial institutions. See Louisiana Revised Statutes 22:601.1
• Multilateral development bank: means an international development organization of which the United States is a member. See Louisiana Revised Statutes 22:601.1
• Mutual fund: means an investment company or, in the case of an investment company that is organized as a series company, an investment company series, that, in either case, is registered with the United States Securities and Exchange Commission under 15 U. See Louisiana Revised Statutes 22:601.1
• NAIC: means the National Association of Insurance Commissioners. See Louisiana Revised Statutes 22:601.1
• NAIC: means the National Association of Insurance Commissioners. See Louisiana Revised Statutes 22:611
• NAIC: means the National Association of Insurance Commissioners. See Louisiana Revised Statutes 22:691.2
• NAIC liquidity stress test framework: means the separate NAIC publication which includes a history of the NAIC's development of regulatory liquidity stress testing, the scope criteria applicable for a specific data year, and the liquidity stress test instructions and reporting templates for a specific data year, such scope criteria, instructions, and reporting template being as adopted by the NAIC and amended by the NAIC in accordance with the procedures adopted by the NAIC. See Louisiana Revised Statutes 22:691.2
• National Bank: A bank that is subject to the supervision of the Comptroller of the Currency. The Office of the Comptroller of the Currency is a bureau of the U.S. Treasury Department. A national bank can be recognized because it must have "national" or "national association" in its name. ^{Source: OCC}
• Necessary designation and credentials: means appropriate credentials obtained from the parish homeland security and emergency preparedness agency or any regional cooperative of parish homeland security and emergency preparedness agencies. See Louisiana Revised Statutes 29:723
• 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
• Obligation: means a bond, note, debenture, trust certificate including an equipment certificate, production payment, negotiable bank certificate of deposit, bankers' acceptance, and other evidence of indebtedness for the payment of money, or participations, certificates, or other evidences of an interest in any of the foregoing, whether constituting a general obligation of the issuer or payable only out of certain revenues or certain funds pledged or otherwise dedicated for payment. See Louisiana Revised Statutes 22:601.1
• Option: means an agreement giving the buyer the right to buy or receive, known as a "call option" sell or deliver, known as a "put option" enter into, extend or terminate or effect a cash settlement based on the actual or expected price, level, performance, or value of one or more underlying interests. See Louisiana Revised Statutes 22:601.1
• Oversight: Committee review of the activities of a Federal agency or program.
• Parent: means a person who meets the definition of such term in federal regulations relative to early intervention programs for infants and toddlers with disabilities and their families (34 C. See Louisiana Revised Statutes 28:462
• Parent: means a person who is the biological mother or father of an individual or the legally adoptive mother or father of an individual. See Louisiana Revised Statutes 28:2
• Parish president: means the president of any parish, mayor-president, mayor of New Orleans (Orleans Parish), or police jury president. See Louisiana Revised Statutes 29:723
• Patient: means any person detained and taken care of as a person who has a mental illness or person who is suffering from a substance-related or addictive disorder. See Louisiana Revised Statutes 28:2
• Person: means an individual, a business entity, a multilateral development bank, or a government or quasi-governmental body, such as a political subdivision or a government-sponsored enterprise. See Louisiana Revised Statutes 22:601.1
• Person: means an individual, a corporation, a limited liability company, a partnership, an association, a joint stock company, a trust, an unincorporated organization, any similar entity or any combination of the foregoing acting in concert, but shall not include any joint venture partnership exclusively engaged in owning, managing, leasing, or developing immovable or corporeal movable property. See Louisiana Revised Statutes 22:691.2
• Plaintiff: The person who files the complaint in a civil lawsuit.
• Potential exposure: means the amount determined in accordance with the NAIC Annual Statement Instructions, as amended. See Louisiana Revised Statutes 22:601.1
• 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.
• Preferred stock: means preferred, preference, or guaranteed stock of a business entity authorized to issue the stock, that has a preference in liquidation over the common stock of the business entity. See Louisiana Revised Statutes 22:601.1
• Probation officers: Screen applicants for pretrial release and monitor convicted offenders released under court supervision.
• program: means the activities directed toward the accomplishment of providing indigent defender services under the Louisiana Public Defender Act. See Louisiana Revised Statutes 15:143
• 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 and casualty insurer: means any insurance company possessing a certificate of authority in the state that issues insurance other than the kinds specified in La. See Louisiana Revised Statutes 22:611
• Prosecute: To charge someone with a crime. A prosecutor tries a criminal case on behalf of the government.
• Public defender: Represent defendants who can't afford an attorney in criminal matters.
• Qualified bank: means any of the following:

              (a) A national bank, state bank, or trust company that at all times is no less than adequately capitalized as determined by standards adopted by United States banking regulators and that is either regulated by state banking laws or is a member of the Federal Reserve System. See Louisiana Revised Statutes 22:601.1

• Qualified business entity: means a business entity that is one of the following:

              (a) An issuer of obligations or preferred stock that are rated one or two by the SVO or an issuer of obligations, preferred stock or derivative instruments that are rated the equivalent of one or two by the SVO, or by a nationally recognized statistical rating organization recognized by the SVO. See Louisiana Revised Statutes 22:601.1

• Qualified exchange: means any of the following:

              (a) A securities exchange registered as a national securities exchange or a securities market regulated under 15 U. See Louisiana Revised Statutes 22:601.1

• Qualified foreign exchange: means a foreign exchange, board of trade, or contract market located outside the United States, its territories, or possessions meeting all of the following criteria:

              (a) That has received regulatory comparability relief under Commodity Futures Trading Commission Rule 30. See Louisiana Revised Statutes 22:601.1

• Qualified primary credit source: means the credit source to which an insurer looks for payment as to an investment and against which an insurer has a direct claim for full and timely payment, evidenced by a contractual right for which an enforcement action can be brought in a domestic jurisdiction. See Louisiana Revised Statutes 22:601.1
• Real estate: means :

              (a) Any of the following:

              (i) Immovable property. See Louisiana Revised Statutes 22:601.1

• Receiver: means the person liquidating a state bank pursuant to Part II of this Subchapter. See Louisiana Revised Statutes 6:381
• Receivership court: means the district court for the parish in which the state bank is domiciled. See Louisiana Revised Statutes 6:381
• Regional director: means the person in the employment of the board chosen to oversee and enforce standards and guidelines within a service region created by the board. See Louisiana Revised Statutes 15:143
• Regional office: means the office established for a service region as provided for in La. See Louisiana Revised Statutes 15:143
• Regulatory-action level risk-based capital: means one hundred fifty percent of a company's authorized control level risk-based capital. See Louisiana Revised Statutes 22:611
• Regulatory-action level risk-based capital: means the product of one and one half and the number determined under the risk-based capital formula in accordance with the risk-based capital instructions. See Louisiana Revised Statutes 22:631
• 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.
• Replication transaction: means a derivative transaction that is intended to replicate the performance of one or more assets that an insurer is authorized to acquire pursuant to this Subpart. See Louisiana Revised Statutes 22:601.1
• Reporter: Makes a record of court proceedings and prepares a transcript, and also publishes the court's opinions or decisions (in the courts of appeals).
• Repurchase transaction: means a transaction in which an insurer sells securities to a business entity and is obligated to repurchase the sold securities or equivalent securities from the business entity at a specified price, either within a specified period or upon demand. See Louisiana Revised Statutes 22:601.1
• 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.
• Restitution: The court-ordered payment of money by the defendant to the victim for damages caused by the criminal action.
• Revenue bonds: means obligations of the district which are payable from revenues derived from sources other than ad valorem taxes on immovable or movable property and which do not pledge the property, credit, or general tax revenue of the district. See Louisiana Revised Statutes 33:9039.13
• Reverse repurchase transaction: means a transaction in which an insurer purchases securities from a business entity that is obligated to repurchase the purchased securities or equivalent securities from the insurer at a specified price, either within a specified period or upon demand. See Louisiana Revised Statutes 22:601.1
• Right of offset: Banks' legal right to seize funds that a guarantor or debtor may have on deposit to cover a loan in default. It is also known as the right of set-off. ^{Source: OCC}
• Risk-based capital instructions: means the risk-based capital report including risk-based capital instructions adopted by the NAIC, as such risk-based capital instructions may be amended by the NAIC from time to time in accordance with the procedures adopted by the NAIC. See Louisiana Revised Statutes 22:611
• Risk-based capital instructions: means the risk-based capital report including risk-based capital instructions adopted by the National Association of Insurance Commissioners, as these risk-based capital instructions may be amended by the National Association of Insurance Commissioners from time to time in accordance with the procedures adopted by the National Association of Insurance Commissioners. See Louisiana Revised Statutes 22:631
• Risk-based capital level: means an action level risk-based capital, regulatory action level risk-based capital, authorized control level risk-based capital, or mandatory control level risk-based capital of an insurer where:

  (a)  "Authorized-control level risk-based capital" means the number determined under the risk-based capital formula in accordance with the risk-based capital instructions. See Louisiana Revised Statutes 22:611

• Risk-based capital plan: means a comprehensive financial plan containing the requirements of La. See Louisiana Revised Statutes 22:611
• Risk-based capital plan: means a comprehensive financial plan containing the elements specified in La. See Louisiana Revised Statutes 22:631
• Risk-based capital report: means the report required pursuant to La. See Louisiana Revised Statutes 22:611
• Risk-based capital report: means the report required in La. See Louisiana Revised Statutes 22:631
• Secured location: means the contiguous real estate owned by one person. See Louisiana Revised Statutes 22:601.1
• Securities lending transaction: means a transaction in which securities are loaned by an insurer to a business entity that is obligated to return the loaned securities or equivalent securities to the insurer, either within a specified period or upon demand. See Louisiana Revised Statutes 22:601.1
• self-generated revenue: means all revenue received by a judicial district including revenue received as a result of grants or donations or other forms of assistance. See Louisiana Revised Statutes 15:143
• Series company: means an investment company that is organized as a series company, as defined in 17 C. See Louisiana Revised Statutes 22:601.1
• Service of process: The service of writs or summonses to the appropriate party.
• Service region: means one of the public defender service regions created by the board as authorized in La. See Louisiana Revised Statutes 15:143
• Service technician: means any person other than a licensee or manufacturer who repairs, services, inspects, or examines slot machines. See Louisiana Revised Statutes 27:353
• Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
• 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
• Shell business entity: means a business entity having no economic substance, except as a vehicle for owning interests in assets issued, owned, or previously owned by a person domiciled in a foreign jurisdiction. See Louisiana Revised Statutes 22:601.1
• Short-term: means investments with a remaining term to maturity of ninety days or less. See Louisiana Revised Statutes 22:601.1
• 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
• State: means a state, territory, or possession of the United States of America, the District of Columbia, or the Commonwealth of Puerto Rico. See Louisiana Revised Statutes 22:601.1
• State Public Defender: means the person in the employment of the board chosen to administer the statewide public defender system for the delivery of public defender services. See Louisiana Revised Statutes 15:143
• Statewide communications interoperability plan for first responders: means a statewide shared communications system for first responders with the ability to transport and receive voice, data, image, and video information adopted by the interoperability subcommittee. See Louisiana Revised Statutes 29:723
• Statewide interoperability plan: means short-term and long-term statewide plans for interoperability for communications and information sharing needed during an emergency and adopted by the state Unified Command Group. See Louisiana Revised Statutes 29:723
• Stockholder: means the holder of record of one or more shares. See Louisiana Revised Statutes 6:201
• Substantially similar securities: means securities that meet all criteria for substantially similar specified in the NAIC Accounting Practices and Procedures Manual, as amended, and in an amount that constitutes good delivery form as determined from time to time by the Public Securities Association. See Louisiana Revised Statutes 22:601.1
• SVO: means the Securities Valuation Office of the NAIC or any successor office established by the NAIC. See Louisiana Revised Statutes 22:601.1
• Swap: means an agreement to exchange or to net payments at one or more times based on the actual or expected price, level, performance, or value of one or more underlying interests. See Louisiana Revised Statutes 22:601.1
• Testify: Answer questions in court.
• Total adjusted capital: means the sum of:

  (a)  An insurer's statutory capital and surplus. See Louisiana Revised Statutes 22:611

• Total adjusted capital: means the sum of the following:

  (a)  A health organization's statutory capital and surplus as determined in accordance with the statutory accounting applicable to the annual financial statements required to be filed under La. See Louisiana Revised Statutes 22:631

• Total voting power: means the entirety of the voting power. See Louisiana Revised Statutes 6:201
• Transfer: means the removal of a patient from one mental institution to another without any procedure for admission other than is prescribed by the department. See Louisiana Revised Statutes 28:2
• Treatment: means an active effort to accomplish an improvement in the mental condition or behavior of a patient or to prevent deterioration in his condition or behavior. See Louisiana Revised Statutes 28:2
• Trial: A hearing that takes place when the defendant pleads "not guilty" and witnesses are required to come to court to give evidence.
• Trust account: A general term that covers all types of accounts in a trust department, such as estates, guardianships, and agencies. ^{Source: OCC}
• UCG: means the group which is established by executive order of the governor to bring senior officials within the governor's office and cabinet secretaries or their designees together with a common objective of effectively managing an incident and ensuring that regardless of the number of agencies or jurisdictions involved, all decisions will be based upon mutually agreed upon objectives with the governor as the unified commander. See Louisiana Revised Statutes 29:723
• under common control with: means the possession, direct or indirect, of the power to direct or cause the direction of the management and policies of a person, whether through the ownership of voting securities, by contract other than a commercial contract for goods or nonmanagement services, or otherwise, unless the power is the result of an official position with or corporate office held by the person. See Louisiana Revised Statutes 22:691.2
• Underlying interest: means the assets, liabilities, other interests, or a combination thereof underlying a derivative instrument, such as any one or more securities, currencies, rates, indices, commodities, or derivative instruments. See Louisiana Revised Statutes 22:601.1
• Uphold: The decision of an appellate court not to reverse a lower court decision.
• Usury: Charging an illegally high interest rate on a loan. ^{Source: OCC}
• 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 security: shall include any security convertible into or evidencing a right to acquire a voting security. See Louisiana Revised Statutes 22:691.2
• Warrant: means an instrument that gives the holder the right to purchase an underlying financial instrument at a given price and time or at a series of prices and times outlined in the warrant agreement. See Louisiana Revised Statutes 22:601.1
• Writ: A formal written command, issued from the court, requiring the performance of a specific act.