Terms Used In Louisiana Revised Statutes > Title 22 > Chapter 2 > Part III > Subpart C - Risk-Based Capital for Domestic Insurers

• Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
• Behavioral health: is a term used to refer to both mental health and substance use. See Louisiana Revised Statutes 28:2
• 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.
• 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.
• Continuance: Putting off of a hearing ot trial until a later time.
• Contract: A legal written agreement that becomes binding when signed.
• Conviction: A judgement of guilt against a criminal defendant.
• 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.
• Corrective order: means an order issued by the department specifying corrective actions which are required. See Louisiana Revised Statutes 22:611
• 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
• Council: means the Louisiana State Interagency Coordinating Council for EarlySteps established pursuant to La. See Louisiana Revised Statutes 28:462
• Court: means any duly constituted district court or court having family or juvenile jurisdiction. See Louisiana Revised Statutes 28:2
• Department: means the Louisiana Department of Health. See Louisiana Revised Statutes 28:462
• Early intervention services: means developmental services that:

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

• Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
• Executor: A male person named in a will to carry out the decedent
• Fiduciary: A trustee, executor, or administrator.
• Fraud: Intentional deception resulting in injury to another.
• Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
• IDEA: means the federal Individuals with Disabilities Education Act. See Louisiana Revised Statutes 28:462
• 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}
• 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

• 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}
• Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
• 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}
• Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
• 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
• 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
• NAIC: means the National Association of Insurance Commissioners. See Louisiana Revised Statutes 22:611
• 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
• 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: includes a body of persons, whether incorporated or not. See Louisiana Revised Statutes 1:10
• 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
• Quorum: The number of legislators that must be present to do business.
• 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
• 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.
• 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 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 report: means the report required pursuant to La. See Louisiana Revised Statutes 22:611
• Statute: A law passed by a legislature.
• Subpoena: A command to a witness to appear and give testimony.
• Total adjusted capital: means the sum of:

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

• Venue: The geographical location in which a case is tried.