Terms Used In Louisiana Revised Statutes > Title 31 > Chapter 4 > Part 4 > Subpart F - Suspension of Prescription

• Agency: means and includes the boards, commissions, departments, agencies, offices, officers, and other instrumentalities, or any or all of these, within the executive branch of state government which are abolished by this Title or which are transferred and placed within departments of the state government created and established or continued by this Title or transferred to and placed within the office of the governor as provided by this Title. See Louisiana Revised Statutes 36:3
• Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
• Assistant secretary: means the officer designated by law or by the secretary of each department to carry out the duties and functions of an office within certain departments, except an office of management and finance and the office of state police of the Department of Public Safety and Corrections. See Louisiana Revised Statutes 36:3
• Business entity: means a corporation, association, partnership, limited liability company, limited liability partnership, or other legal entity. See Louisiana Revised Statutes 22:1692
• Contract: A legal written agreement that becomes binding when signed.
• 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.
• Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
• Discovery: Lawyers' examination, before trial, of facts and documents in possession of the opponents to help the lawyers prepare for trial.
• Fingerprints: means an impression of the lines on the finger taken for purpose of identification. See Louisiana Revised Statutes 22:1692
• First-party claim: means a claim made by an insured or a policyholder under an insurance policy or contract that arises out of the occurrence of the contingency or loss covered by the policy or contract. See Louisiana Revised Statutes 22:1692
• Individual: means a natural person. See Louisiana Revised Statutes 22:1692
• 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.
• Legacy: A gift of property made by will.
• Office: means each principal operational unit within a department, except the executive office of the secretary. See Louisiana Revised Statutes 36:3
• 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 or a business entity. See Louisiana Revised Statutes 22:1692
• Personal property: All property that is not real property.
• Public adjuster: means any person who, for any compensation, direct or indirect, engages in public adjusting. See Louisiana Revised Statutes 22:1692
• Public adjusting: means either of the following:

  (a)  Investigating, appraising, or evaluating and reporting to an insured in relation to a first-party claim for which coverage is provided by an insurance contract that insures the property of the insured. See Louisiana Revised Statutes 22:1692

• Secretary: means the officer appointed by the governor as the executive head and chief administrative officer of certain departments created and provided for by this Title. See Louisiana Revised Statutes 36:3
• Statute: A law passed by a legislature.
• Uniform business entity application: means the current version of the NAIC uniform application for business entity license for resident and nonresident business entities. See Louisiana Revised Statutes 22:1692