§ 3:4351.1 Wherever used in this Part, unless a different meaning clearly appears in the context, the following terms, whether used in the singular or plural, shall have the following meanings:
§ 3:4351.2 A.(1) Five or more Louisiana timber or agriculture operators that are not public entities, each of which has a positive net worth, is financially solvent, and is capable of assuming
§ 3:4351.3 A. The fund established pursuant to R.S. 3:4351.2 shall:
§ 3:4351.4 A. No security or other investment shall be eligible for purchase or acquisition by the fund unless it is interest-bearing or interest-accruing or dividend- or income-paying, and is
§ 3:4351.5 A. The fund shall not become operative until issued a certificate of authority by the department. Except for the certificate of authority, the department shall keep confidential all
§ 3:4351.6 A. Any person soliciting membership for the fund shall be licensed by the department as a property and casualty producer pursuant to R.S. 22:1541 et seq. No employee of a bona fide t
§ 3:4351.7 A. The fund shall file rates on an actuarially justified basis with the department and may use the rates ninety days after filing, unless the department disapproves the use of rates
§ 3:4351.8 If the fund has three years of consecutive net losses on the audited financial statements of the fund, or two years of consecutive net losses on the audited financial statements of t
§ 3:4351.9 A. In the event the fund is insolvent, then in addition to any other provision of law or rule, the department shall require that the fund files a plan in writing within sixty days fr
§ 3:4351.10 A. The department shall make an examination, at least once every five years, of the group self-insurance fund established pursuant to this Part doing business in this state, and at a
§ 3:4351.11 A. All examination reports shall be comprised only of facts appearing upon the books, records, or other documents of the group self-insurance fund or as ascertained from the testimon
§ 3:4351.12 The department shall have authority to employ investigators to investigate complaints received against the group self-insurance fund authorized to do business in this state and again
§ 3:4351.13 A. It shall be unlawful for any person who is an officer, trustee, employee, administrator, agent, or representative of the group self-insurance fund, as well as any person, partners
§ 3:4351.14 A. Any person subject to the regulatory authority of the department who fails to comply with any directive issued by the department in connection with a consumer complaint shall be f
§ 3:4351.15 A. If the fund chooses to dissolve, it shall apply to the department for the authority to dissolve. An application to dissolve shall be on a form prescribed by the department and sha
§ 3:4351.16 A.(1) Except as otherwise provided in this Section, for purposes of soliciting, selling, or negotiating the renewal or sale of group self-insurance coverage, products, or insurance s

Terms Used In Louisiana Revised Statutes > Title 3 > Chapter 28 > Part IV-A - Louisiana Agriculture Transportation Group Self-Insurance Fund

  • 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 Account, together with regular interest thereon as provided in La. See Louisiana Revised Statutes 11:3002
  • Actuarial Equivalent: shall mean a benefit of equal value to the accumulated contributions, annuity or benefit as the case may be, when computed upon the basis of such mortality tables as shall be adopted by the Board of Trustees and regular interest. See Louisiana Revised Statutes 11:3002
  • Agency: shall mean any governing body employing persons in the Service of the City of Alexandria. See Louisiana Revised Statutes 11:3002
  • Airport authority: means the owner of any airport or landing field, or the governing authority of any airport district. See Louisiana Revised Statutes 2:801
  • Airport construction or development priority program: means the priority list of projects submitted by the department and approved by the joint committee pursuant to this Chapter. See Louisiana Revised Statutes 2:801
  • 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.
  • Average Compensation: means the average annual earnable compensation of an employee for any period of three consecutive years of service as an employee during which the said earnable compensation was the highest. See Louisiana Revised Statutes 11:3002
  • 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.
  • Beneficiary: shall mean any person designated to receive a retirement allowance, an annuity or other benefit as provided by this Part. See Louisiana Revised Statutes 11:3002
  • Bequest: Property gifted by will.
  • Board: shall mean the Board of Trustees provided in La. See Louisiana Revised Statutes 11:3002
  • Board: shall mean the Retirement Board of the City of Bogalusa Retirement System. See Louisiana Revised Statutes 11:3033
  • Bona fide trade or professional association: means an active trade or professional association that is chartered and domiciled in Louisiana, or a successor organization thereof, that meets all of the following requirements:

                (a) Promotes Louisiana timber or agriculture production. See Louisiana Revised Statutes 3:4351.1

  • City: shall mean the City of Alexandria. See Louisiana Revised Statutes 11:3002
  • City: shall mean the city of Bogalusa, Louisiana. See Louisiana Revised Statutes 11:3033
  • Construction or development project: means a program of construction or development, either new or continuing, that will be planned and implemented with the primary goal of improving aviation activities in the state. See Louisiana Revised Statutes 2:801
  • Council: shall mean the City Commission Council of Bogalusa, Louisiana. See Louisiana Revised Statutes 11:3033
  • Creditable Service: shall mean "Prior Service" plus "Membership Service" for which credit is allowable as provided in La. See Louisiana Revised Statutes 11:3002
  • Deed: The legal instrument used to transfer title in real property from one person to another.
  • Department: means the Department of Transportation and Development. See Louisiana Revised Statutes 2:801
  • Department: means the Department of Insurance. See Louisiana Revised Statutes 3:4351.1
  • dividend: when used in this Chapter (except in La. See Louisiana Revised Statutes 47:159
  • Earnable Compensation: shall mean the full amount earned by an employee for a given pay period. See Louisiana Revised Statutes 11:3002
  • Effective date: shall mean July 1, 1953. See Louisiana Revised Statutes 11:3033
  • Employee: means any person legally occupying a position in the Service of the City of Alexandria, and shall include the employees of the retirement system created hereunder. See Louisiana Revised Statutes 11:3002
  • Employee: shall mean any appointive officer or employee of the city now or hereafter employed by the city, whose services are compensated by the city in whole or in part, who is not covered by any existing pension fund maintained by the city. See Louisiana Revised Statutes 11:3033
  • Employer: shall mean the City of Alexandria or any of its departments and agencies from which any employee receives his compensation. See Louisiana Revised Statutes 11:3002
  • Encumbrance: means any lien, privilege, judgment, mortgage, pledge, pawn, claim, charge, or any other encumbrance of like nature. See Louisiana Revised Statutes 3:1
  • Fiscal Year: shall mean the period beginning on January first in any year, and ending on December thirty-first of the same year. See Louisiana Revised Statutes 11:3002
  • Fund: means the self-insurance fund established pursuant to this Part to provide automobile coverage for timber transportation vehicles, agriculture transportation vehicles, or a combination of both types of vehicles and shall be known as the Louisiana Agriculture Transportation Group Self-Insured Fund. See Louisiana Revised Statutes 3:4351.1
  • Grantor: The person who establishes a trust and places property into it.
  • Hazardous financial condition: means a condition in which, based upon its present or reasonably anticipated financial condition, the fund, although not yet financially impaired or insolvent, is unlikely to be able to:

                (a) Meet obligations with respect to known claims and reasonably anticipated claims. See Louisiana Revised Statutes 3:4351.1

  • Insolvency: means the condition existing when the fund's liabilities are greater than the fund's assets as determined in accordance with generally accepted accounting principles as delineated in the fund's financial statement audited by an independent certified public accountant and calculated before a member distribution is payable or before a dividend is declared. See Louisiana Revised Statutes 3:4351.1
  • Intangible property: Property that has no intrinsic value, but is merely the evidence of value such as stock certificates, bonds, and promissory notes.
  • 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
  • Joint committee: means the House Committee on Transportation, Highways and Public Works and the Senate Committee on Transportation, Highways and Public Works, functioning as a joint legislative committee. See Louisiana Revised Statutes 2:801
  • Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
  • Medical Board: shall mean the Board of Physicians provided for in La. See Louisiana Revised Statutes 11:3002
  • Member: shall mean any employee in the City service included in the membership of the system as provided in La. See Louisiana Revised Statutes 11:3002
  • Member: shall mean any employee included in the membership of the system. See Louisiana Revised Statutes 11:3033
  • Membership Service: means service as an employee rendered while a member of the retirement system. See Louisiana Revised Statutes 11:3002
  • Operator: means a person, partnership, corporation, or limited liability company who owns or operates a timber or agriculture transportation vehicle. See Louisiana Revised Statutes 3:4351.1
  • Oversight: Committee review of the activities of a Federal agency or program.
  • 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
  • Principal: means a person or persons who own a majority interest or the majority of the stock in a corporation, partnership, or limited liability company that is established for the purpose of operating a timber or agriculture business and is a member of the fund. See Louisiana Revised Statutes 3:4351.1
  • Prior Service: shall mean service rendered prior to August 1, 1948 for which credit is allowable under La. See Louisiana Revised Statutes 11:3002
  • Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
  • Recourse: An arrangement in which a bank retains, in form or in substance, any credit risk directly or indirectly associated with an asset it has sold (in accordance with generally accepted accounting principles) that exceeds a pro rata share of the bank's claim on the asset. If a bank has no claim on an asset it has sold, then the retention of any credit risk is recourse. Source: FDIC
  • Regular Interest: shall mean interest compounded annually at such rate as shall be determined by the Board in accordance with La. See Louisiana Revised Statutes 11:3002
  • 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 Allowance: shall mean an annuity for life, as provided in this Part, payable each year in twelve equal monthly installments beginning as of the date fixed by the Board. See Louisiana Revised Statutes 11:3002
  • Salary: shall mean the amount of compensation earned by a member as an employee of the city. See Louisiana Revised Statutes 11:3033
  • 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.
  • Subpoena: A command to a witness to appear and give testimony.
  • System: shall mean the City of Alexandria Employees' Retirement System established and described in La. See Louisiana Revised Statutes 11:3002
  • System: shall mean the City of Bogalusa Retirement System. See Louisiana Revised Statutes 11:3033
  • Taxable year: includes , in the case of a return made for a fractional part of a year under the provisions of this Chapter or under regulations prescribed by the collector, the period for which return is made. See Louisiana Revised Statutes 47:98
  • Timber or agriculture transportation vehicle: means a vehicle or automobile used to collect and transport timber or agriculture products, or used in the course and scope of a timber or agriculture business, or used by an operator or principal. See Louisiana Revised Statutes 3:4351.1
  • Timber or agriculture transportation vehicle coverage: means automobile coverage for a timber or agriculture transportation vehicle that includes any of the following:

                (a) Liability payment for bodily injury caused by the operator of a timber or agriculture transportation vehicle. See Louisiana Revised Statutes 3:4351.1

  • Total service: shall mean service rendered before the operative date of the system, and subsequent thereto. See Louisiana Revised Statutes 11:3033
  • Transcript: A written, word-for-word record of what was said, either in a proceeding such as a trial or during some other conversation, as in a transcript of a hearing or oral deposition.
  • Withdrawal from Service: shall mean complete severance of employment in the City Service of any member by resignation, dismissal or discharge. See Louisiana Revised Statutes 11:3002