Terms Used In Louisiana Revised Statutes > Title 47 > Subtitle II > Chapter 1 > Part II-A > Subpart C - Accounting Periods and Methods of Accounting

• 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.
• 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
• Commissioner: means the commissioner of agriculture and forestry. See Louisiana Revised Statutes 3:2073
• 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.
• Department: means the Department of Agriculture and Forestry. See Louisiana Revised Statutes 3:1
• Equine: means all members of the genus Equus, regardless of age, including horses, ponies, mules, donkeys, and zebras. See Louisiana Revised Statutes 3:2073
• 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
• 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.
• 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
• Injunction: An order of the court prohibiting (or compelling) the performance of a specific act to prevent irreparable damage or injury.
• 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.
• 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
• Program: means the Louisiana Equine Promotion and Research Program. See Louisiana Revised Statutes 3:2073
• Quorum: The number of legislators that must be present to do business.
• 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
• 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
• Writ: A formal written command, issued from the court, requiring the performance of a specific act.