Terms Used In Louisiana Revised Statutes > Title 3 > Chapter 22 > Part II - Right to Forest

• Accumulated contributions: shall mean the sum of all the amounts deducted from the compensation of a member and credited to his individual account in the annuity savings fund together with regular interest thereon as provided in La. See Louisiana Revised Statutes 11:2213
• 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.
• 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.
• Annuity reserve: shall mean the present value of all payments to be made on account of any annuity, or benefit in lieu of any annuity, computed upon the basis of such mortality tables as shall be adopted by the board of trustees, and regular interest. See Louisiana Revised Statutes 11:2213
• average final compensation: means the average annual earned compensation of a member for the sixty highest months of successive employment, or for the highest sixty successive joined months of employment where interruption of service occurred. See Louisiana Revised Statutes 11:2213
• Board of trustees: shall mean the board provided for in La. See Louisiana Revised Statutes 11:2213
• Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
• Department: means the Department of Agriculture and Forestry. See Louisiana Revised Statutes 3:1
• Earnable compensation: shall mean the full amount of compensation earned by an employee for a given month, including supplemental pay paid by the state of Louisiana, but shall not include overtime. See Louisiana Revised Statutes 11:2213
• Employee: shall mean any of the following classifications:

              (a)(i) Any full-time police officer, empowered to make arrests. See Louisiana Revised Statutes 11:2213

• Employer: shall mean any municipality in the state of Louisiana which employs a full-time police officer, empowered to make arrests, or which has an elected chief of police whose salary is at least one thousand dollars per month, and the Municipal Police Employees' Retirement System. See Louisiana Revised Statutes 11:2213
• Fair market value: The price at which an asset would change hands in a transaction between a willing, informed buyer and a willing, informed seller.
• Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
• Forest land: means any land in the state devoted to the growing of trees or the commercial production of timber, wood, or forest products that is located outside the corporate limits of any municipality. See Louisiana Revised Statutes 3:3622
• Garnishment: Generally, garnishment is a court proceeding in which a creditor asks a court to order a third party who owes money to the debtor or otherwise holds assets belonging to the debtor to turn over to the creditor any of the debtor
• Governmental action: means annexation of territory by a governmental entity or the issuance of a rule, regulation, policy, or guideline promulgated for or by any governmental entity, or an order or other legally binding directive having the force of law or capable of being enforced by government which prohibits or limits the right of an owner to conduct forestry activities on forestry land. See Louisiana Revised Statutes 3:3622
• Governmental entity: means :

  (a)  A board, authority, commission, department, office, or agency of the state government. See Louisiana Revised Statutes 3:3622

• 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}
• Litigation: A case, controversy, or lawsuit. Participants (plaintiffs and defendants) in lawsuits are called litigants.
• Member: shall include any employee, as defined in Paragraph (11) of this Section, included in the membership of this system as provided in La. See Louisiana Revised Statutes 11:2213
• Owner: means a person owning an interest in forest land at the time a governmental action becomes effective as to the forest land in which the owner owns an interest. See Louisiana Revised Statutes 3:3622
• Person: means an individual or any legal or commercial entity, including a corporation, business trust, partnership, limited liability company, association, or joint venture. See Louisiana Revised Statutes 3:1
• Prohibits or limits: means an existent reduction of twenty percent or more of the fair market value of forest land, or any portion thereof, or property rights thereto associated with conducting forestry activities on forest land before the action. See Louisiana Revised Statutes 3:3622
• 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.
• Retirement: shall mean withdrawal from active service with a retirement allowance granted under the provisions of this Chapter. See Louisiana Revised Statutes 11:2213
• Retirement allowance: shall mean any benefit paid to a member under La. See Louisiana Revised Statutes 11:2213
• Service: shall mean service rendered as an employee as described in Paragraph (11) of this Section. See Louisiana Revised Statutes 11:2213
• Statute: A law passed by a legislature.
• system: shall mean the Municipal Police Employees' Retirement System as established in La. See Louisiana Revised Statutes 11:2213
• Testimony: Evidence presented orally by witnesses during trials or before grand juries.
• Trial: A hearing that takes place when the defendant pleads "not guilty" and witnesses are required to come to court to give evidence.