Terms Used In Louisiana Revised Statutes > Title 33 > Chapter 5 > Part V - Fire and Police Civil Service Law for Municipalities Between 250,000 and 500,000

• 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.
• Donor: The person who makes a gift.
• 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.