Sections
Subpart A Introductory Provisions, Tax Levy, Rates of Tax; Credits 47:287.2 – 47:287.12
Subpart B Computation of Louisiana Taxable Income 47:287.61 – 47:287.95
Subpart C Accounting Periods and Methods of Accounting 47:287.441 – 47:287.480
Subpart D Exempt Organizations 47:287.501 – 47:287.528
Subpart E Administrative Provisions: Records, Returns, Due Dates, Payment of Taxes 47:287.601 – 47:287.683
Subpart F Definitions and Special Provisions 47:287.701 – 47:287.785

Terms Used In Louisiana Revised Statutes > Title 47 > Subtitle II > Chapter 1 > Part II-A - Louisiana Corporation Income Tax

  • account wagering: means a form of pari-mutuel wagering in which an individual may deposit money in an account with an authorized licensee and then use the account balance to pay for pari-mutuel wagers made in person, by telephone call, or by communication through other electronic means. See Louisiana Revised Statutes 4:149.5
  • Address: means street and municipal number, or other definite and ascertainable physical location if street and municipal number are not available; and, if a building not wholly occupied by the addressee, the location in the building. See Louisiana Revised Statutes 12:201
  • Adjourn: A motion to adjourn a legislative chamber or a committee, if passed, ends that day's session.
  • Administrative rules and regulations: means rules and regulations that are applicable to a particular marketing order which is issued and made effective by the commissioner pursuant to La. See Louisiana Revised Statutes 3:3502
  • Advertising and sales promotion: means trade promotion and activities which prevent the restriction of the free flow of any commodity to market. See Louisiana Revised Statutes 3:3502
  • Adviser: means a person who, at the request of the issuer, a confirmor, or another adviser, notifies, or requests another adviser to notify, the beneficiary that a letter of credit has been issued, confirmed, or amended. See Louisiana Revised Statutes 10:5-102
  • Affidavit: A written statement of facts confirmed by the oath of the party making it, before a notary or officer having authority to administer oaths.
  • Agricultural plant: means any facility which receives raw agricultural products for the purpose of rendering them suitable for wholesale or retail marketing. See Louisiana Revised Statutes 3:263
  • Agricultural producer: means a person engaged in agriculture for the planting, growing, harvesting, or production of an agricultural product in its natural state and who primarily assumes the production and market risks associated with such activities. See Louisiana Revised Statutes 3:263
  • Agriculture: means the commercial planting, growing, harvesting, production, storage, processing, marketing, distribution, or export of any agricultural product, including but not limited to farm products, livestock and livestock products, poultry and poultry products, milk and dairy products, fruit and other horticultural products, and seafood and aquacultural products. See Louisiana Revised Statutes 3:263
  • Agriculture: means the commercial production, storage, processing, marketing, or distribution of any agronomic, floricultural, horticultural, vitacultural, silvicultural, or aquacultural crop, including but not limited to farm products, livestock and livestock products, poultry and poultry products, milk and dairy products, fruit and other horticultural products, and seafood and aquacultural products. See Louisiana Revised Statutes 3:292
  • Allegation: something that someone says happened.
  • Allocated value: means (1) the par value of par-value shares, plus any amounts in excess of par value transferred from surplus to stated capital in respect of such shares, less any part of such amounts transferred from stated capital to capital surplus as permitted by this Chapter, and (2) the amount allocated to stated capital upon issuance of shares without par value, plus any amounts thereafter transferred from surplus to stated capital in respect of such shares, less any part of such amounts transferred from stated capital to capital surplus as permitted by this Chapter. See Louisiana Revised Statutes 12:201
  • 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.
  • Answer: The formal written statement by a defendant responding to a civil complaint and setting forth the grounds for defense.
  • Appeal: A request made after a trial, asking another court (usually the court of appeals) to decide whether the trial was conducted properly. To make such a request is "to appeal" or "to take an appeal." One who appeals is called the appellant.
  • Appellate: About appeals; an appellate court has the power to review the judgement of another lower court or tribunal.
  • Applicant: means a person at whose request or for whose account a letter of credit is issued. See Louisiana Revised Statutes 10:5-102
  • Applicant: means a person or place of business that makes a formal application for a license, permit, certification, registration, or certificate issued pursuant to this Title. See Louisiana Revised Statutes 3:1
  • Appraisal: A determination of property value.
  • Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
  • Aquaculture: means the commercial production, storage, processing, marketing, distribution, or export of any seafood including but not limited to catfish, trout, crustaceans, and mollusks. See Louisiana Revised Statutes 3:263
  • Aquaculture: means the producing, raising, managing, harvesting, or  marketing of aquatic livestock under controlled circumstances. See Louisiana Revised Statutes 3:292
  • Arrest: Taking physical custody of a person by lawful authority.
  • Articles: means the original articles of incorporation, and all amendments thereto including those contained in merger agreements, or if restated, the latest restatement thereof, except in those instances in which the context expressly refers to the original articles of incorporation only. See Louisiana Revised Statutes 12:201
  • Asset forfeiture: A procedure by which a person's property is seized to pay judgments levied by the court.
  • Assets: means all of a corporation's property and rights of every kind. See Louisiana Revised Statutes 12:201
  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
  • Attachment: A procedure by which a person's property is seized to pay judgments levied by the court.
  • Authority: means the Louisiana Agricultural Finance Authority created by this Chapter. See Louisiana Revised Statutes 3:263
  • Bail: Security given for the release of a criminal defendant or witness from legal custody (usually in the form of money) to secure his/her appearance on the day and time appointed.
  • Bailiff: a court officer who enforces the rules of behavior in courtrooms.
  • 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: means a person who under the terms of a letter of credit is entitled to have its complying presentation honored. See Louisiana Revised Statutes 10:5-102
  • Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
  • Board: means the Louisiana Equine Promotion and Research Advisory Board. See Louisiana Revised Statutes 3:2073
  • Board: means the Louisiana Cemetery Board. See Louisiana Revised Statutes 8:1
  • Bonds: means the bonds, notes, renewal notes, refunding bonds, interim certificates, certificates of indebtedness, debentures, warrants, commercial paper, or other obligations or evidences of indebtedness authorized to be issued by the Authority pursuant to the provisions of this Chapter. See Louisiana Revised Statutes 3:263
  • Burial: means the placement of human remains in a grave. See Louisiana Revised Statutes 8:1
  • Business corporation: means a corporation for profit formed under the laws of this state. See Louisiana Revised Statutes 12:201
  • Capital surplus: means the aggregate of:

    (a)  The amount of the consideration received on issuance of issued shares in excess of the aggregate allocated value thereof; and

    (b)  Amounts transferred to capital surplus as permitted by this Chapter; and

    (c)  Surplus arising from revaluation to reflect unrealized appreciation in value of assets; less

    (d)  Transfers from, or other reductions in, capital surplus required or permitted by this Chapter. See Louisiana Revised Statutes 12:201

  • Cemetery: means a place used or intended to be used for the interment of the human dead and, to the extent allowed in accordance with this Title, pet remains. See Louisiana Revised Statutes 8:1
  • Cemetery space: means a grave, crypt, vault, niche, tomb, lawn crypt, or any other property used or intended to be used for the interment of human remains. See Louisiana Revised Statutes 8:1
  • Chambers: A judge's office.
  • Chief judge: The judge who has primary responsibility for the administration of a court but also decides cases; chief judges are determined by seniority.
  • 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.
  • Commission: means the Louisiana Agricultural Commodities Commission. See Louisiana Revised Statutes 3:3402
  • Commissioner: means the Louisiana Commissioner of Agriculture and Forestry. See Louisiana Revised Statutes 3:263
  • Commissioner: means the commissioner of agriculture and forestry. See Louisiana Revised Statutes 3:2073
  • Commissioner: means the Louisiana commissioner of agriculture and forestry. See Louisiana Revised Statutes 3:3402
  • Commissioner: means the commissioner of agriculture of the state of Louisiana. See Louisiana Revised Statutes 3:3502
  • commodities: means cotton, all agricultural products commonly classed as grain, including rice, rough rice, corn, wheat, oats, rye, soybeans, barley, and grain sorghum, and any other agricultural commodity or other farm product which the commission may, by regulation, declare to be a commodity subject to this Chapter. See Louisiana Revised Statutes 3:3402
  • Commodity: except as otherwise provided in La. See Louisiana Revised Statutes 3:3502
  • Community Reinvestment Act: The Act is intended to encourage depository institutions to help meet the credit needs of the communities in which they operate, including low- and moderate-income neighborhoods. It was enacted by the Congress in 1977. Source: OCC
  • Complaint: A written statement by the plaintiff stating the wrongs allegedly committed by the defendant.
  • Concurrent resolution: A legislative measure, designated "S. Con. Res." and numbered consecutively upon introduction, generally employed to address the sentiments of both chambers, to deal with issues or matters affecting both houses, such as a concurrent budget resolution, or to create a temporary joint committee. Concurrent resolutions are not submitted to the President/Governor and thus do not have the force of law.
  • Confirmor: means a nominated person who undertakes, at the request or with the consent of the issuer, to honor a presentation under a letter of credit issued by another. See Louisiana Revised Statutes 10:5-102
  • Continuance: Putting off of a hearing ot trial until a later time.
  • Contract: A legal written agreement that becomes binding when signed.
  • Controlled substance: means a controlled dangerous substance as defined and covered by the Uniform Controlled Dangerous Substances Law, La. See Louisiana Revised Statutes 9:2800.62
  • 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.
  • Corporation: means any corporation or limited liability company which is authorized by its articles or an operating agreement to conduct any one or more of the businesses of a cemetery. See Louisiana Revised Statutes 8:1
  • Cotton agent: means every person, firm, corporation, association, or other legal entity who purchases or contracts to purchase cotton grown or to be grown by producers in this state for or on behalf of a cotton merchant and who is required to be a party to a notarized written agency agreement. See Louisiana Revised Statutes 3:3402
  • Cotton merchant: means every person, firm, corporation, association, or other legal entity who purchases or contracts to purchase, either directly or through a cotton agent, cotton grown or to be grown by producers in this state. See Louisiana Revised Statutes 3:3402
  • Court: means any court of competent jurisdiction where the registered office of the corporation is located. See Louisiana Revised Statutes 12:201
  • Court reporter: A person who makes a word-for-word record of what is said in court and produces a transcript of the proceedings upon request.
  • Cremated remains: means human remains after cremation in a crematory. See Louisiana Revised Statutes 8:1
  • Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
  • Decedent: A deceased person.
  • Deed: The legal instrument used to transfer title in real property from one person to another.
  • Defendant: In a civil suit, the person complained against; in a criminal case, the person accused of the crime.
  • Department: means the Louisiana Department of Agriculture and Forestry. See Louisiana Revised Statutes 3:263
  • Department: means the Louisiana Department of Agriculture and Forestry. See Louisiana Revised Statutes 3:292
  • Department: means the Louisiana Department of Agriculture and Forestry. See Louisiana Revised Statutes 3:3402
  • Department: means the Department of Agriculture and Forestry. See Louisiana Revised Statutes 3:1
  • Dependent: A person dependent for support upon another.
  • Deposition: An oral statement made before an officer authorized by law to administer oaths. Such statements are often taken to examine potential witnesses, to obtain discovery, or to be used later in trial.
  • Directors: means persons designated in the articles as such, and persons designated, elected or appointed by any other name or title to act as directors, and their successors. See Louisiana Revised Statutes 12:201
  • Discovery: Lawyers' examination, before trial, of facts and documents in possession of the opponents to help the lawyers prepare for trial.
  • Dismissal: The dropping of a case by the judge without further consideration or hearing. Source:
  • Disposition: means the interment, burial, cremation, or anatomical donation of the body of a deceased person or parts of the body of a deceased person. See Louisiana Revised Statutes 8:1
  • Distributing: means engaging in the business of a distributor as defined in Paragraph (7). See Louisiana Revised Statutes 3:3502
  • Distributor: means any person other than a producer or processor, who sells commodities to one or more retailers of such commodities. See Louisiana Revised Statutes 3:3502
  • dividend: when used in this Chapter (except in La. See Louisiana Revised Statutes 47:159
  • Docket: A log containing brief entries of court proceedings.
  • Document: means a draft or other demand, document of title, investment security, certificate, invoice, or other record, statement, or representation of fact, law, right, or opinion (i) which is presented in a written or other medium permitted by the letter of credit, or unless prohibited by the letter of credit, by the standard practice referred to in La. See Louisiana Revised Statutes 10:5-102
  • Donee: The recipient of a gift.
  • Donor: The person who makes a gift.
  • Earned surplus: means the excess of surplus over capital surplus. See Louisiana Revised Statutes 12:201
  • Electronic funds transfer: The transfer of money between accounts by consumer electronic systems-such as automated teller machines (ATMs) and electronic payment of bills-rather than by check or cash. (Wire transfers, checks, drafts, and paper instruments do not fall into this category.) Source: OCC
  • En banc: In the bench or "full bench." Refers to court sessions with the entire membership of a court participating rather than the usual quorum. U.S. courts of appeals usually sit in panels of three judges, but may expand to a larger number in certain cases. They are then said to be sitting en banc.
  • Encumbrance: means any lien, privilege, judgment, mortgage, pledge, pawn, claim, charge, or any other encumbrance of like nature. See Louisiana Revised Statutes 3:1
  • Enrolled bill: The final copy of a bill or joint resolution which has passed both chambers in identical form. It is printed on parchment paper, signed by appropriate officials, and submitted to the President/Governor for signature.
  • Entitlement: A Federal program or provision of law that requires payments to any person or unit of government that meets the eligibility criteria established by law. Entitlements constitute a binding obligation on the part of the Federal Government, and eligible recipients have legal recourse if the obligation is not fulfilled. Social Security and veterans' compensation and pensions are examples of entitlement programs.
  • Equine: means all members of the genus Equus, regardless of age, including horses, ponies, mules, donkeys, and zebras. See Louisiana Revised Statutes 3:2073
  • Equine event: means any kind of show, exposition, contest, or tournament where equines are shown competitively. See Louisiana Revised Statutes 3:2073
  • Equine facility: means any facility used to host equine events. See Louisiana Revised Statutes 3:2073
  • Equine performance: means any discipline within the equine industry where equines are used competitively or in exhibition. See Louisiana Revised Statutes 3:2073
  • Equine research: means any scholarly activity conducted to collect scientific data utilizing experimental design. See Louisiana Revised Statutes 3:2073
  • Equitable: Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy. See damages. A separate court of "equity" could order someone to do something or to cease to do something. See, e.g., injunction. In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases. Source: U.S. Courts
  • Escrow: Money given to a third party to be held for payment until certain conditions are met.
  • 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.
  • Ex officio: Literally, by virtue of one's office.
  • Executor: A male person named in a will to carry out the decedent
  • 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.
  • Farm products: means products employed directly in the cultivation, production, or harvesting of any agricultural commodities or containers for agricultural commodities or other farm products. See Louisiana Revised Statutes 3:3402
  • Federal law: means the Internal Revenue Code of 1986, as amended, (Title 26 United States Code) and applicable U. See Louisiana Revised Statutes 47:287.701
  • Fiduciary: A trustee, executor, or administrator.
  • Fiscal year: means an accounting period of twelve months ending on the last day of any month other than December. See Louisiana Revised Statutes 47:98
  • 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.
  • Force majeure: means any of the following circumstances:

                (a) A major storm, major flood, or other similar natural disaster. See Louisiana Revised Statutes 8:1

  • Foreclosure: A legal process in which property that is collateral or security for a loan may be sold to help repay the loan when the loan is in default. Source: OCC
  • Foreign corporation: means a corporation formed under the laws of any jurisdiction other than this state. See Louisiana Revised Statutes 12:201
  • Forgery: The fraudulent signing or alteration of another's name to an instrument such as a deed, mortgage, or check. The intent of the forgery is to deceive or defraud. Source: OCC
  • Fraud: Intentional deception resulting in injury to another.
  • Funding: means grants, loans, or a combination of grants and loans. See Louisiana Revised Statutes 3:296
  • 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
  • General rules and regulations: means those which are applicable to all marketing orders and marketing agreements and are issued by the commissioner to provide uniform methods to facilitate the administration and enforcement of all such marketing orders and marketing agreements. See Louisiana Revised Statutes 3:3502
  • Germane: On the subject of the pending bill or other business; a strict standard of relevance.
  • Good faith: means honesty in fact in the conduct or transaction concerned. See Louisiana Revised Statutes 10:5-102
  • Governing body: means the board or body in which the bond issuing power of a governmental unit is vested. See Louisiana Revised Statutes 13:5121
  • Grain: means corn, wheat, oats, rye, soybeans, barley, and grain sorghum. See Louisiana Revised Statutes 3:3402
  • Grain dealer: means any person who purchases any agricultural commodities from producers or represents producers in the sale of agricultural commodities. See Louisiana Revised Statutes 3:3402
  • Grave: means a space of ground in a cemetery, used or intended to be used, for burial. See Louisiana Revised Statutes 8:1
  • gross allocable income or loss: means the general class of gross income designated as allocable income by La. See Louisiana Revised Statutes 47:287.701
  • gross apportionable income or loss: means the general class of gross income designated as apportionable income by La. See Louisiana Revised Statutes 47:287.701
  • Guardian: A person legally empowered and charged with the duty of taking care of and managing the property of another person who because of age, intellect, or health, is incapable of managing his (her) own affairs.
  • Handler: means any person that is engaged as a distributor or any person that is engaged as a processor. See Louisiana Revised Statutes 3:3502
  • Handling: means engaging in the business of a handler as defined in Paragraph (9). See Louisiana Revised Statutes 3:3502
  • Healthy food retailers: means for-profit or not-for-profit retailers that sell high quality fresh fruits and vegetables at competitive prices including but not limited to supermarkets, grocery stores, and farmers' markets. See Louisiana Revised Statutes 3:296
  • Human remains: means the body of a deceased person and includes the body in any stage of decomposition, as well as cremated remains. See Louisiana Revised Statutes 8:1
  • Illegal controlled substance: means cocaine, phencyclidine, heroin, or methamphetamine and any other illegal controlled dangerous substance the possession or distribution of which is a violation of the Uniform Controlled Dangerous Substances Law, La. See Louisiana Revised Statutes 9:2800.62
  • Incorporator: means one of the signers of the original articles of incorporation. See Louisiana Revised Statutes 12:201
  • 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
  • Indictment: The formal charge issued by a grand jury stating that there is enough evidence that the defendant committed the crime to justify having a trial; it is used primarily for felonies.
  • Individual user: means the individual whose use of an illegal controlled substance, that is not obtained directly from or pursuant to a valid prescription or order of a licensed physician or practitioner, which is the basis of an action brought under this Chapter. See Louisiana Revised Statutes 9:2800.62
  • Injunction: An order of the court prohibiting (or compelling) the performance of a specific act to prevent irreparable damage or injury.
  • Intangible property: Property that has no intrinsic value, but is merely the evidence of value such as stock certificates, bonds, and promissory notes.
  • Inter vivos: Transfer of property from one living person to another living person.
  • Interment: means the disposition of human remains by inurnment, scattering, entombment, or burial in a place used or intended to be used, and dedicated, for cemetery purposes. See Louisiana Revised Statutes 8:1
  • Issued shares: means outstanding shares and treasury shares. See Louisiana Revised Statutes 12:201
  • Issuer: means a financial institution or other person that issues a letter of credit, but does not include an individual who makes an engagement for personal, family, or household purposes. See Louisiana Revised Statutes 10:5-102
  • Joint committee: Committees including membership from both houses of teh legislature. Joint committees are usually established with narrow jurisdictions and normally lack authority to report legislation.
  • 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.
  • Juror: A person who is on the jury.
  • 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
  • Legacy: A gift of property made by will.
  • Legatee: A beneficiary of a decedent
  • Lending institution: means any bank, bank or trust company, federal land bank, production credit association, bank for cooperatives, building and loan association, homestead, insurance company, investment banker, mortgage banker or company, pension or retirement fund, savings bank or savings and loan association, small business investment company, credit union, or any other financial institution authorized to do business in Louisiana or operating under the supervision of any federal agency or any "Edge Act Corporation" or agreement corporation organized or operating pursuant to Section 25 of the Federal Reserve Act. See Louisiana Revised Statutes 3:263
  • Letter of credit: means a definite undertaking that satisfies the requirements of La. See Louisiana Revised Statutes 10:5-102
  • Level four offense: means the illegal possession with intent to distribute sixteen ounces or more, or the illegal distribution of four ounces or more, of an illegal controlled substance. See Louisiana Revised Statutes 9:2800.62
  • Level one offense: means the illegal possession with intent to distribute less than four ounces or the illegal distribution of less than one ounce of an illegal controlled substance. See Louisiana Revised Statutes 9:2800.62
  • Level three offense: means the illegal possession with intent to distribute  eight ounces or more but less than sixteen ounces, or the illegal distribution of two ounces or more, but less than four ounces, of an illegal controlled substance. See Louisiana Revised Statutes 9:2800.62
  • Level two offense: means the illegal possession with intent to distribute four ounces or more but less than eight ounces, or the illegal distribution  of one ounce or more, but less than two ounces, of an illegal controlled substance. See Louisiana Revised Statutes 9:2800.62
  • Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
  • Lien: A claim against real or personal property in satisfaction of a debt.
  • Litigation: A case, controversy, or lawsuit. Participants (plaintiffs and defendants) in lawsuits are called litigants.
  • Livestock: means any animal except dogs and cats, bred, kept, maintained, raised, or used for profit, that is used in agriculture, aquaculture, agritourism, competition, recreation, or silviculture, or for other related purposes or used in the production of crops, animals, or plant or animal products for market. See Louisiana Revised Statutes 3:263
  • Louisiana agricultural markets: means any entity in the state of Louisiana, public or private, which in the normal scope of business purchases Louisiana agricultural or aquacultural products. See Louisiana Revised Statutes 3:292
  • Louisiana gross allocable income or loss: means those items of, or that portion of, allocable income or loss allocated to Louisiana pursuant to the provisions of La. See Louisiana Revised Statutes 47:287.701
  • Major amendments: means amendments to any marketing order or agreement which are made pursuant to La. See Louisiana Revised Statutes 3:3502
  • Marketed by producers: means producer marketing, as defined by Paragraph (19). See Louisiana Revised Statutes 3:3502
  • Marketing agreement: means a voluntary contract between growers and handlers and the commissioner of agriculture. See Louisiana Revised Statutes 3:3502
  • Marketing of an illegal controlled substance: means the possession with intent to distribute or distribution of a specified illegal controlled substance which is a violation of the Uniform Controlled Dangerous Substances Law, La. See Louisiana Revised Statutes 9:2800.62
  • Marketing order: means an order which is issued by the commissioner, which prescribes rules and regulations that govern the processing, distributing, or handling in any manner of any commodity within this state during any specified period. See Louisiana Revised Statutes 3:3502
  • Member: means each natural or artificial person admitted to membership in a corporation, and, unless the context indicates otherwise, includes shareholders. See Louisiana Revised Statutes 12:201
  • Membership: means an interest in a corporation entitling the holder thereof to participate in the control of the corporation or to a pro rata share of its net assets upon dissolution. See Louisiana Revised Statutes 12:201
  • Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
  • Mortgage loan: A loan made by a lender to a borrower for the financing of real property. Source: OCC
  • Mortgagee: The person to whom property is mortgaged and who has loaned the money.
  • Mortgagor: The person who pledges property to a creditor as collateral for a loan and who receives the money.
  • National Bank: A bank that is subject to the supervision of the Comptroller of the Currency. The Office of the Comptroller of the Currency is a bureau of the U.S. Treasury Department. A national bank can be recognized because it must have "national" or "national association" in its name. Source: OCC
  • Net allocable income or loss: means net allocable income or loss earned within or derived from sources within Louisiana and is the mathematical remainder when subtracting from Louisiana gross allocable income or loss:

    (1)  Allowable deductions within the meaning of La. See Louisiana Revised Statutes 47:287.701

  • Net apportionable income or loss: means net apportionable income or loss earned within or derived from sources within Louisiana as computed pursuant to La. See Louisiana Revised Statutes 47:287.701
  • Net assets: means the excess of assets over liabilities. See Louisiana Revised Statutes 12:201
  • Niche: means a space in a columbarium used or intended to be used for inurnment of cremated human remains. See Louisiana Revised Statutes 8:1
  • Nominated person: means a person whom the issuer (i) designates or authorizes to pay, accept, negotiate, or otherwise give value under a letter of credit and (ii) undertakes by agreement or custom and practice to reimburse. See Louisiana Revised Statutes 10:5-102
  • Noncommercial grain buyer: means any person who purchases, or contracts to purchase, less than ten thousand bushels of grain or five thousand hundredweights of rice in a calendar year. See Louisiana Revised Statutes 3:3402
  • nonprofit corporation: means a corporation formed under this Chapter, as well as a corporation formed under the laws of this state before January 1, 1969 but of a class of corporations that might be formed under this Chapter. See Louisiana Revised Statutes 12:201
  • Oath: A promise to tell the truth.
  • Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
  • open position: means the grain dealer's contracts for purchase or sale of agricultural commodities which are unhedged. See Louisiana Revised Statutes 3:3402
  • Open storage: means any storage for which a warehouse receipt has not been issued. See Louisiana Revised Statutes 3:3402
  • Other similar services: includes but is not limited to the drilling of oil and gas wells. See Louisiana Revised Statutes 47:287.701
  • Oversight: Committee review of the activities of a Federal agency or program.
  • Owner: means a person to whom the cemetery authority has transferred full title to or the right of use of or interment in any cemetery space and who appears as the title holder in the official records of the cemetery authority. See Louisiana Revised Statutes 8:1
  • paid or accrued: shall be construed according to the method of accounting upon the basis of which the net income is computed under this Chapter. See Louisiana Revised Statutes 47:98
  • 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.
  • perpetual care: means the maintenance, repair, and care of all places where interments have been or are to be made, including the improvements made upon the places, in keeping with a well-maintained cemetery, and general overhead expense necessary for such purposes. See Louisiana Revised Statutes 8:1
  • Person: means a natural person, governmental entity, or corporation, partnership,  firm, trust, or incorporated or unincorporated association, existing under or authorized by the laws of this state, another state, or a foreign country. See Louisiana Revised Statutes 9:2800.62
  • Person: means an individual, corporation, limited liability company, partnership, joint venture, association, trust, or any other legal entity. See Louisiana Revised Statutes 8:1
  • Person: means any individual, partnership, company, firm, association, cooperative association, corporation, or any other legal entity engaged in any of the activities regulated under this Chapter. See Louisiana Revised Statutes 3:3402
  • Person: means an individual, firm, corporation, association, or any other business unit, and includes any state agency which engages in any of the commercial activities which are regulated pursuant to the provisions of this Chapter. See Louisiana Revised Statutes 3:3502
  • person: includes a body of persons, whether incorporated or not. See Louisiana Revised Statutes 1:10
  • 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
  • Personal property: All property that is not real property.
  • Persons: means any individual, partnership, firm, corporation, company, cooperative, association, society, trust, limited liability company, or any other business unit or entity, including any state or federal agency. See Louisiana Revised Statutes 3:263
  • Place of business: means a permanent location or a portion of a permanent location from which business, in a regulated profession or occupation, is transacted. See Louisiana Revised Statutes 3:1
  • Place of illegal activity: means , in relation to the individual user of an illegal controlled substance, each parish in which the individual illegally possesses or uses an illegal controlled substance during the period of the individual's use of an illegal controlled substance. See Louisiana Revised Statutes 9:2800.62
  • Place of participation: means , in relation to a defendant in an action brought under this Chapter, each parish in which the person participates in the marketing of illegal controlled substances during the period of the person's participation in the marketing of illegal controlled substances. See Louisiana Revised Statutes 9:2800.62
  • Plaintiff: The person who files the complaint in a civil lawsuit.
  • Plea: In a criminal case, the defendant's statement pleading "guilty" or "not guilty" in answer to the charges, a declaration made in open court.
  • Pleadings: Written statements of the parties in a civil case of their positions. In the federal courts, the principal pleadings are the complaint and the answer.
  • Precedent: A court decision in an earlier case with facts and law similar to a dispute currently before a court. Precedent will ordinarily govern the decision of a later similar case, unless a party can show that it was wrongly decided or that it differed in some significant way.
  • Preliminary hearing: A hearing where the judge decides whether there is enough evidence to make the defendant have a trial.
  • Presentation: means delivery of a document to an issuer or nominated person for honor or giving of value under a letter of credit. See Louisiana Revised Statutes 10:5-102
  • Presenter: means a person making a presentation as or on behalf of a beneficiary or nominated person. See Louisiana Revised Statutes 10:5-102
  • Private transfer fee: means a fee or charge required by a private transfer fee obligation and payable upon the transfer of an interest in an immovable, or payable for the right to make or accept such transfer, regardless of whether the fee or charge is a fixed amount or is determined as a percentage of the value of the immovable, the purchase price, or other consideration given for the transfer. See Louisiana Revised Statutes 9:3132
  • Private transfer fee obligation: means any obligation arising under any recorded or unrecorded declaration or agreement, whether or not purporting to create a servitude, building restriction or other real right, to pay a private transfer fee to a party to the declaration or agreement, or his successors or assigns, or a third person upon a subsequent transfer of an interest in the immovable. See Louisiana Revised Statutes 9:3132
  • Probable cause: A reasonable ground for belief that the offender violated a specific law.
  • Probation: A sentencing alternative to imprisonment in which the court releases convicted defendants under supervision as long as certain conditions are observed.
  • Probation officers: Screen applicants for pretrial release and monitor convicted offenders released under court supervision.
  • Processing: means engaging in the business of a processor as defined in Paragraph (17). See Louisiana Revised Statutes 3:3502
  • Processor: means any person that is engaged within this state in the operation of receiving, grading, packing, canning, fermenting, distilling, extracting, preserving, grinding, crushing, or changing the form of any commodity for the purpose of preparing it for market or of marketing such commodity, or any other activities which are performed for the purpose of preparing it for market or of marketing such commodity. See Louisiana Revised Statutes 3:3502
  • Producer: means the owner, tenant, lessee, or operator of land within this state who has an interest in or receives all or any part of the proceeds from the sale of agricultural commodities produced thereon. See Louisiana Revised Statutes 3:3402
  • Producer: means any person that is engaged within this state in the business of producing any commodity. See Louisiana Revised Statutes 3:3502
  • Producer marketing: means any or all operations which are performed by any producer in preparing for market. See Louisiana Revised Statutes 3:3502
  • Program: means a public-private partnership established to provide a dedicated source of financing for food retailers that increase access to fresh fruits and vegetables and other affordable healthy food for Louisiana residents managed by the Louisiana Department of Agriculture and Forestry. See Louisiana Revised Statutes 3:296
  • Program: means the Louisiana Equine Promotion and Research Program. See Louisiana Revised Statutes 3:2073
  • Promotion of the equine industry: means the development of a comprehensive marketing plan for the equine industry including a website, social media, and an advertising program that includes all breeds, disciplines, and equine-related activities. See Louisiana Revised Statutes 3:2073
  • Prosecute: To charge someone with a crime. A prosecutor tries a criminal case on behalf of the government.
  • Public defender: Represent defendants who can't afford an attorney in criminal matters.
  • Quorum: The number of legislators that must be present to do business.
  • Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
  • Reclassification of stock: means amendment of the articles to change the authorized number of shares of an existing class or series; to authorize shares of a new class or series; to change the designation, par value (including change of par-value shares to shares without par value or vice versa), preferences, limitations or relative rights, including cancellation or modification of the right to receive accumulated dividends which have not been declared, or variations in relative rights, of the issued, and authorized but unissued, shares of any existing class or series; or to change the issued shares of any existing class or series into a greater or smaller number of shares of the same class or series (subject to such changes as the reclassification may make in the designation, par value, preferences, limitations or relative rights, or variations in relative rights, thereof) or of another class or series, and to cancel any issued shares in connection with a reduction in the number thereof. See Louisiana Revised Statutes 12:201
  • Record: means information that is inscribed on a tangible medium, or that is stored in an electronic or other medium and is retrievable in perceivable form. See Louisiana Revised Statutes 10:5-102
  • 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
  • Registered office: means that office maintained by the corporation in this state, the address of which is kept on file in the office of the Secretary of State in the manner required by this Chapter. See Louisiana Revised Statutes 12:201
  • 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.
  • Reporter: Makes a record of court proceedings and prepares a transcript, and also publishes the court's opinions or decisions (in the courts of appeals).
  • Restitution: The court-ordered payment of money by the defendant to the victim for damages caused by the criminal action.
  • Retailer: means any person that purchases any commodity for resale at retail to the general public for consumption off the premises. See Louisiana Revised Statutes 3:3502
  • reuse: means the act of removing and disposing of a previously interred casket and the gathering and placing of human remains in an alternative container within the same cemetery space in order to accommodate additional interments. See Louisiana Revised Statutes 8:1
  • Revolving credit: A credit agreement (typically a credit card) that allows a customer to borrow against a preapproved credit line when purchasing goods and services. The borrower is only billed for the amount that is actually borrowed plus any interest due. (Also called a charge account or open-end credit.) Source: OCC
  • Risk position: means the loss potential to the grain dealer resulting from bringing its open position to market. See Louisiana Revised Statutes 3:3402
  • Sale: means the sale of the full title to any cemetery space or the sale of the right of use of or interment in any cemetery space. See Louisiana Revised Statutes 8:1
  • Seasonal marketing regulation: means marketing regulations that are applicable to a particular marketing order which are made effective by the commissioner pursuant to La. See Louisiana Revised Statutes 3:3502
  • secretary of revenue: when used in this Title, mean the secretary of the Department of Revenue for the state of Louisiana. See Louisiana Revised Statutes 47:1501
  • Security: means any financial instrument or document issued for the benefit of or given to the commission by a licensee, or participation in any self-insurance fund program authorized by this Chapter as assurance for the fulfillment of the obligations imposed on the licensee by applicable law or regulations. See Louisiana Revised Statutes 3:3402
  • Service of process: The service of writs or summonses to the appropriate party.
  • 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.
  • Share: means an interest in a corporation, represented by a stock certificate issued after payment for the shares represented thereby, entitling the holder thereof to participate in the control of the corporation or to a pro rata share of its net assets upon dissolution. See Louisiana Revised Statutes 12:201
  • Shareholder: means a natural or artificial person who is the owner of a property interest in a corporation represented by a certificate for shares of stock. See Louisiana Revised Statutes 12:201
  • State: means the state of Louisiana or any agency or instrumentality thereof. See Louisiana Revised Statutes 3:263
  • Stated capital: means the aggregate amount of:

    (a)  The aggregate allocated value of the issued shares; and

    (b)  Any other amounts transferred from surplus to stated capital; less

    (c)  Transfers from, or other reductions in, stated capital required or permitted by this Chapter. See Louisiana Revised Statutes 12:201

  • Statute: A law passed by a legislature.
  • Statute of limitations: A law that sets the time within which parties must take action to enforce their rights.
  • Subpoena: A command to a witness to appear and give testimony.
  • Successor of a beneficiary: means a person who succeeds to substantially all of the rights of a beneficiary by operation of law, including a corporation with or into which the beneficiary has been merged or consolidated, an administrator, executor, personal representative, trustee in bankruptcy, debtor in possession, liquidator, and receiver. See Louisiana Revised Statutes 10:5-102
  • Summons: Another word for subpoena used by the criminal justice system.
  • Surplus: means the excess of assets over liabilities plus stated capital. See Louisiana Revised Statutes 12:201
  • 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
  • Temporary restraining order: Prohibits a person from an action that is likely to cause irreparable harm. This differs from an injunction in that it may be granted immediately, without notice to the opposing party, and without a hearing. It is intended to last only until a hearing can be held.
  • Testator: A male person who leaves a will at death.
  • Testify: Answer questions in court.
  • Testimony: Evidence presented orally by witnesses during trials or before grand juries.
  • Therapeutic riding and rehabilitation center: means any Professional Association of Therapeutic Horsemanship International (PATH Intl. See Louisiana Revised Statutes 3:2073
  • tomb: means a structure or building for the entombment of human remains in crypts or vaults in a place used or intended to be used, and dedicated, for cemetery purposes. See Louisiana Revised Statutes 8:1
  • Tort: A civil wrong or breach of a duty to another person, as outlined by law. A very common tort is negligent operation of a motor vehicle that results in property damage and personal injury in an automobile accident.
  • Total net apportionable income or loss: means the remainder when subtracting from gross apportionable income or loss:

    (1)  Allowable deductions within the meaning of La. See Louisiana Revised Statutes 47:287.701

  • Total voting power: means the entirety of the voting power. See Louisiana Revised Statutes 12:201
  • Trail facility: means a facility with routes planned specifically for public equine use as well as necessary support areas such as camping facilities. See Louisiana Revised Statutes 3:2073
  • 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.
  • Transfer: means the sale, donation, conveyance, assignment, inheritance, or other transfer of an ownership interest in an immovable located in this state. See Louisiana Revised Statutes 9:3132
  • Treasury shares: means issued shares which have been acquired by and belong to the corporation, if not required by the articles to be cancelled, or if not cancelled by order of the board of directors. See Louisiana Revised Statutes 12:201
  • Trial: A hearing that takes place when the defendant pleads "not guilty" and witnesses are required to come to court to give evidence.
  • Trust account: A general term that covers all types of accounts in a trust department, such as estates, guardianships, and agencies. Source: OCC
  • Trust instrument: includes any lawful act, agreement, donation, testament or other document, by which the donor, settlor or testator transfers any property in trust, for any charitable, religious, benevolent, educational, scientific or literary purpose, or public benefaction of whatever name or nature. See Louisiana Revised Statutes 12:201
  • Trustee: A person or institution holding and administering property in trust.
  • Underserved community: means a geographic area that has limited access to healthy food retailers and is located in a lower-income or high-poverty area, or an area that is otherwise determined to have serious healthy food access limitations. See Louisiana Revised Statutes 3:296
  • Uniform Commercial Code: A set of statutes enacted by the various states to provide consistency among the states' commercial laws. It includes negotiable instruments, sales, stock transfers, trust and warehouse receipts, and bills of lading. Source: OCC
  • vault: means a space in a mausoleum of sufficient size, used or intended to be used, to entomb human remains. See Louisiana Revised Statutes 8:1
  • Venue: The geographical location in which a case is tried.
  • Verdict: The decision of a petit jury or a judge.
  • Voting member: means a person entitled to vote in accordance with the articles or by-laws. See Louisiana Revised Statutes 12:201
  • Voting power: means the right vested, by law or by the articles or the by-laws, in the members, or in one or more classes of members, to vote in the determination of any particular question or matter coming before meetings of the members. See Louisiana Revised Statutes 12:201
  • Warehouse: means any building, structure, or any other protected enclosure required to be licensed by the commission in which agricultural commodities or other farm products are stored for the public for a fee. See Louisiana Revised Statutes 3:3402
  • Warehouseman: means any person or other entity operating a warehouse. See Louisiana Revised Statutes 3:3402
  • Writ: A formal written command, issued from the court, requiring the performance of a specific act.
  • Writ of certiorari: An order issued by the Supreme Court directing the lower court to transmit records for a case for which it will hear on appeal.