Terms Used In Louisiana Revised Statutes > Title 4 > Chapter 7 - Athletes and Athlete Agents

• Agent contract: means any contract or agreement, whether written or oral, under which an athlete authorizes an athlete agent to negotiate or solicit on behalf of the athlete for the employment of the athlete by one or more professional sports teams. See Louisiana Revised Statutes 4:421
• 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.
• Anything of value: means any thing of value. See Louisiana Revised Statutes 4:421
• Association: means a savings association, thrift institution, homestead, building and loan association, savings and loan association, or society, including both capital stock and mutual associations. See Louisiana Revised Statutes 6:703
• Athlete: means a student who resides in this state, or a student who does not reside in this state but has informed in writing an institution of higher education in this state of the student's intent to participate in that school's intercollegiate sports contests, and who is characterized by either of the following:

  (i)  Is eligible to participate in junior high, high school, or intercollegiate sports contests as a member of a sports team of a junior high, high school, or institution of higher education which is located in this state and which is a member of a federation or association. See Louisiana Revised Statutes 4:421

• Athlete agent: means any person who recruits or solicits an athlete to enter into an agent contract or professional sport services contract with any person, or who offers anything of value to any person to induce an athlete to enter into an agreement by which any person will represent the athlete, or who for anything of value procures, offers, promises, or attempts to obtain employment for an athlete with a professional sports team. See Louisiana Revised Statutes 4:421
• Athlete contract: means any contract or agreement executed by a student athlete with an educational institution or school concerning the student's participation in that institution's intercollegiate sport contests or interscholastic athletic activities. See Louisiana Revised Statutes 4:421
• Commissioner: means the commissioner of financial institutions, of the state of Louisiana, in his capacity as supervisor of associations. See Louisiana Revised Statutes 6:703
• Complaint: A written statement by the plaintiff stating the wrongs allegedly committed by the defendant.
• Contact: means any communication by an athlete agent or by any intermediary with an athlete, or with any third person for the purpose of having that third person communicate with the athlete about the possibility of or formation of any business, financial, or other contractual relationship or agreement, including an agent contract, a professional services contract, or a professional sports services contract. See Louisiana Revised Statutes 4:421
• Credit report: A detailed report of an individual's credit history prepared by a credit bureau and used by a lender in determining a loan applicant's creditworthiness. ^{Source: OCC}
• Defendant: In a civil suit, the person complained against; in a criminal case, the person accused of the crime.
• Depositor: means a holder of a savings, demand, or other type of deposit account of an association. See Louisiana Revised Statutes 6:703
• Division: means the public protection division of the Department of Justice. See Louisiana Revised Statutes 4:421
• Embezzlement: In most states, embezzlement is defined as theft/larceny of assets (money or property) by a person in a position of trust or responsibility over those assets. Embezzlement typically occurs in the employment and corporate settings. ^{Source: OCC}
• Federal Deposit Insurance Corporation: A government corporation that insures the deposits of all national and state banks that are members of the Federal Reserve System. ^{Source: OCC}
• Federation or association: means any state or national association for the promotion and regulation of interscholastic or intercollegiate sports governing athletes and their relationships with athlete agents. See Louisiana Revised Statutes 4:421
• Impaired condition: means a condition in which the assets of an association in the aggregate do not have a fair value equal to the aggregate amount of liabilities of the association. See Louisiana Revised Statutes 6:703
• Institution: means any institution of higher education in this state having an athlete contract with an athlete. See Louisiana Revised Statutes 4:421
• Member: means a person or entity holding a savings or demand account of or shares of a mutual association, and may include a person borrowing from or assuming or obligated upon a loan or interest therein held by such association if such is authorized by the charter or the bylaws of the association. See Louisiana Revised Statutes 6:703
• One borrower: means any person or entity which is, or which upon the making of a loan becomes, an obligor on a real estate loan or otherwise an obligor to the association, either directly or indirectly. See Louisiana Revised Statutes 6:703
• Person: means an individual, company, corporation, association, partnership, or other legal entity. See Louisiana Revised Statutes 4:421
• Plaintiff: The person who files the complaint in a civil lawsuit.
• Prosecute: To charge someone with a crime. A prosecutor tries a criminal case on behalf of the government.
• Real estate loan: means any loan or other obligation secured, as provided for in this Chapter, by immovable property held in full ownership or under a lease extending or renewable automatically for a period of at least five years beyond the date scheduled for the final principal payment of such loan or obligation, or any transaction out of which a mortgage or vendor's privilege is created against such immovable property including but not limited to the purchase of such real estate by an association and the concurrent or immediate sale thereof on installment contract. See Louisiana Revised Statutes 6:703
• 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 athlete agent: means an athlete agent registered with the division under the provisions of this Chapter. See Louisiana Revised Statutes 4:421
• Savings account: means an account to which earnings, including interest, is paid or accrued. See Louisiana Revised Statutes 6:703
• Savings liability: means the aggregate amount of savings accounts of depositors and shares of members, plus earnings credited to such accounts, less redemptions and withdrawals. See Louisiana Revised Statutes 6:703
• School: means any secondary school in this state, including high schools and junior high schools, that has an athlete contract with an athlete. See Louisiana Revised Statutes 4:421
• Service of process: The service of writs or summonses to the appropriate party.
• Service organization: means a corporation in which the shares of stock may be owned by one or more associations, financial institutions, or other persons. See Louisiana Revised Statutes 6:703
• 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 any share, certificate, security, account, or other evidence of funds invested in a mutual association by a member thereof, other than a savings or demand account. See Louisiana Revised Statutes 6:703
• Stock: means capital stock of a capital stock association. See Louisiana Revised Statutes 6:703
• third person: means any persons other than the athlete agent or the athlete. See Louisiana Revised Statutes 4:421