Terms Used In Louisiana Revised Statutes > Title 51 > Chapter 2 - Particular Goods

• Accumulated contributions: means the sum of all amounts deducted from a member's compensation and credited to his individual account in the annuity savings fund. See Louisiana Revised Statutes 11:1902
• Adult protection agency: means :

              (a) The office of elderly affairs in the office of the governor, for any individual sixty years of age or older in need of adult protective services. See Louisiana Revised Statutes 51:732

• Affirmed: In the practice of the appellate courts, the decree or order is declared valid and will stand as rendered in the lower court.
• agent: means the state fire marshal. See Louisiana Revised Statutes 51:912.51
• Annual percentage rate: The cost of credit at a yearly rate. It is calculated in a standard way, taking the average compound interest rate over the term of the loan so borrowers can compare loans. Lenders are required by law to disclose a card account's APR. ^{Source: FDIC}
• Assembler: means any person engaged in the making of fireworks from component parts. See Louisiana Revised Statutes 51:650
• Beneficial owner: means , with regard to any securities, any person who owns such securities or who enjoys benefits substantially equivalent to ownership. See Louisiana Revised Statutes 51:702
• board of trustees: means the board of trustees of this system. See Louisiana Revised Statutes 11:1902
• Charity: An agency, institution, or organization in existence and operating for the benefit of an indefinite number of persons and conducted for educational, religious, scientific, medical, or other beneficent purposes.
• Commission: means the Louisiana Manufactured Housing Commission. See Louisiana Revised Statutes 51:911.22
• Commissioner: means the commissioner of agriculture and forestry or his duly authorized representative acting at his direction. See Louisiana Revised Statutes 3:3112
• Commissioner: means the commissioner of financial institutions who is also the commissioner of securities. See Louisiana Revised Statutes 51:702
• Cosmetic: means either of the following:

              (a) Articles intended to be applied to or introduced into the human body or any part thereof for purposes of cleansing, beautifying, promoting attractiveness, or altering appearance. See Louisiana Revised Statutes 51:771

• Cosmetic animal testing: means the internal or external application or exposure of any cosmetic product, cosmetic ingredient, or nonfunctional constituent to the skin, eyes, or any other body part, organ, or extremity of a live nonhuman vertebrate. See Louisiana Revised Statutes 51:771
• Cosmetic ingredient: means any single chemical entity or mixture used as a component in the manufacture of a cosmetic product as defined in 21 C. See Louisiana Revised Statutes 51:771
• Cosmetic product: means a finished and complete cosmetic. See Louisiana Revised Statutes 51:771
• 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.
• Creditable service: means all periods of time for which credit is allowed towards any benefits of this Chapter. See Louisiana Revised Statutes 11:1902
• Criminal history record information: means conviction information collected by criminal justice agencies on individuals. See Louisiana Revised Statutes 51:911.22
• Dealer: means any person who is engaged in, or who intends to engage in the business of selling motor vehicles at retail in this state. See Louisiana Revised Statutes 51:661
• Dealer: means every person, other than a salesman registered under this Part, who engages, either for all or part of his time, directly or indirectly, as agent, broker, or principal in the business of offering, buying, selling, or otherwise dealing or trading in securities issued by another person but does not include:

  (i)  A bank chartered and issued a certificate of authority by the state of Louisiana and under the supervision of the commissioner of financial institutions, a national bank chartered by the government of the United States and under the supervision of the Comptroller of the Currency of the United States, a bank holding company organized under the laws of the state of Louisiana and under the supervision of the Board of Governors of the Federal Reserve, or the employees of such banks or bank holding companies acting in their official capacity. See Louisiana Revised Statutes 51:702

• Decedent: A deceased person.
• Department: means the Louisiana Department of Agriculture and Forestry. See Louisiana Revised Statutes 3:3112
• Department: means the Department of Agriculture and Forestry. See Louisiana Revised Statutes 3:1
• developer: includes "contractors" and "residential contractors" as defined in La. See Louisiana Revised Statutes 51:911.22
• Disability: means a condition which in the determination of the board renders an employee permanently and totally disabled, by bodily injury or disease, from performing the duties and responsibilities of his position; provided, however, that such condition is not, directly or indirectly, the result of military service, engaging in a felonious criminal enterprise, habitual drunkenness or use of narcotics, intentionally self-inflicted injury, or declared war or enemy action. See Louisiana Revised Statutes 11:1902
• Dismissal: The dropping of a case by the judge without further consideration or hearing. ^Source:
• Distributor: means any person, firm, association, corporation, limited liability company, or trust, resident or nonresident, who in whole or in part sells or supplies manufactured housing to dealers or who maintains distributor sales representatives. See Louisiana Revised Statutes 51:911.22
• Distributor: means any person engaged in the business of making sales of fireworks at wholesale in this state to any person engaged in the business of making sales of fireworks either as a jobber or a retailer or both. See Louisiana Revised Statutes 51:650
• Drug retailer: means any person engaged wholly or partially in the retail drug trade;

  (3)  "Retail drug establishment" means any store or department of a store engaged in the retail drug trade;

  (4)  "Cost" means the manufacturer's wholesale list price per dozen or per customary unit plus a six percent mark-up;

  (5)  "Drug" means any substance or preparation intended for external or internal use in the care, mitigation, treatment, remedy or prevention of disease or ailment in man or animal, and any substance or preparation intended to affect the structure or function of the body of man or animal, not including food, but including medicinal or quasimedicinal preparations;

  (6)  "Cosmetics" and "toilet preparations" mean toilet articles and perfumes, toilet waters, face powders, creams, lotions, rouges, shaving creams, dentifrices, bath salts and all other similar preparations and substances, designed and intended for application to the person for the purpose of cleansing, improving, or changing in any way the appearance of the person, or of refreshing or preserving the person;

  (7)  "Drug sundries" means such articles as are used in conjunction with, but not included in, drugs, cosmetics or toilet preparations. See Louisiana Revised Statutes 51:521

• Earnings: shall mean the full rate of compensation paid to the member (employee); however, in computing the earnings of an employee for retirement purposes, the amount of overtime earnings to be used in the computation of earnings cannot exceed the average amount of overtime earnings received for the six-year period immediately preceding retirement. See Louisiana Revised Statutes 11:1902
• Eligible adult: means :

              (a) A person sixty years of age or older. See Louisiana Revised Statutes 51:732

• 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}
• Employee: means any person who is employed as a permanent employee of a parish who works at least twenty-eight hours a week and whose compensation is paid wholly or partly by said parish, but excluding all persons employed by a parish or city school board, and all persons eligible for any other public retirement system in this state. See Louisiana Revised Statutes 11:1902
• Employer: means any parish in the state of Louisiana, except Orleans and East Baton Rouge Parishes, or the police jury or any other governing body of a parish which employs and pays persons serving the parish. See Louisiana Revised Statutes 11:1902
• Executive officer: means the president, the principal financial officer, the principal operating officer, each vice president with responsibility involving policy-making functions for a significant aspect of a person's business, the secretary, the treasurer, or any other person performing similar functions with respect to any organization, whether incorporated or unincorporated. See Louisiana Revised Statutes 51:702
• Executor: A male person named in a will to carry out the decedent
• Extraordinary circumstances: means a federally declared disaster, a gubernatorially declared disaster or emergency, a pandemic, or an illness or emergency medical condition. See Louisiana Revised Statutes 51:911.22
• Federal covered adviser: means a person who is registered under Section 203 of the Investment Advisers Act of 1940. See Louisiana Revised Statutes 51:702
• Federal covered security: means any security that is a covered security under Section 18(b) of the Securities Act of 1933 or rules promulgated thereunder. See Louisiana Revised Statutes 51:702
• Federal Reserve System: The central bank of the United States. The Fed, as it is commonly called, regulates the U.S. monetary and financial system. The Federal Reserve System is composed of a central governmental agency in Washington, D.C. (the Board of Governors) and twelve regional Federal Reserve Banks in major cities throughout the United States. ^{Source: OCC}
• final compensation: means the average monthly earnings during the sixty highest consecutive months of employment or the sixty highest successive joined months of employment if interruption of service occurred. See Louisiana Revised Statutes 11:1902
• Finance company or finance agency: means any person engaged in the business of financing the sale of motor vehicles, or engaged in the business of purchasing or acquiring promissory notes, either secured by vendor's privilege or chattel mortgage, arising from the sale of motor vehicles in this state. See Louisiana Revised Statutes 51:661
• Financial exploitation: means :

              (a) The wrongful or unauthorized taking, withholding, appropriation, or use of money, assets, or property of an eligible adult. See Louisiana Revised Statutes 51:732

• Firm: means a sole proprietorship, partnership, corporation, limited liability company, or any other entity. See Louisiana Revised Statutes 51:650
• 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
• 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}
• Guarantor: A party who agrees to be responsible for the payment of another party's debts should that party default. ^{Source: OCC}
• 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.
• Importer: means any person who imports, brings in, or causes to be brought in any fireworks from outside the state of Louisiana into the state of Louisiana. See Louisiana Revised Statutes 51:650
• IMS system: means the information management system operated and maintained by the office of state fire marshal. See Louisiana Revised Statutes 51:650
• Investment adviser: means any person who, for compensation, engages in the business of advising others, either directly or through publications or writings, as to the value of securities or as to the advisability of investing in, purchasing, or selling securities, or who, for compensation and as a part of a regular business, issues or promulgates analyses or reports concerning securities. See Louisiana Revised Statutes 51:702
• Investment adviser representative: means any partner, officer, director, or a person occupying a similar status or performing similar functions, or other individual, except clerical or ministerial personnel, who is employed by or associated with an investment adviser that is registered or required to be registered under this Part, and who does any of the following:

  (a)  Makes any recommendations or otherwise renders advice regarding securities. See Louisiana Revised Statutes 51:702

• Issuer: means every person who issues or proposes to issue any security, except that with respect to certificates of deposit, voting-trust certificates, or collateral-trust certificates or with respect to certificates of interest or shares in an unincorporated investment trust not having a board of directors or persons performing similar functions or in an unincorporated investment trust of the fixed, restricted management, or unit type, the term "issuer" means the person or persons performing the acts and assuming the duties of depositor or manager pursuant to the provisions of the trust or other agreement or instrument under which such securities are issued, except that:

  (a)  In the case of an unincorporated association which provides by its articles for limited liability of any or all of its members or in the case of a trust, committee, or other legal entity, the trustees or members thereof shall not be individually liable as issuers of any security issued by the association, trust, committee, or other legal entity. See Louisiana Revised Statutes 51:702

• Jobber: means any person engaged in the business of making sales of fireworks at wholesale to any other person engaged in the business of making sales at retail. See Louisiana Revised Statutes 51:650
• License: means the document issued by the office of state fire marshal to a firm or person authorizing the firm or person to engage in the activities as defined by this Part and administrative rules. See Louisiana Revised Statutes 51:650
• Licensee: means any person or firm issued a license by the office of state fire marshal to engage in the activities as defined by this Part and administrative rules. See Louisiana Revised Statutes 51:650
• Lineal descendant: Direct descendant of the same ancestors.
• Louisiana state plan: means the document which outlines the process by which the state administrative agent shall ensure the effective handling of consumer complaints and other information that relates to noncompliance, defects, or imminent safety hazards, involving manufactured housing, together with any responsibility delegated to the state administrative agent. See Louisiana Revised Statutes 51:912.51
• Majority owned subsidiary: means a subsidiary more than fifty percent of whose outstanding securities representing the right, other than as affected by events of default, to vote for the election of directors is owned by the subsidiary's parent, by one or more of the parent's other majority owned subsidiaries, or by the subsidiary's parent and one or more of the parent's other majority-owned subsidiaries. See Louisiana Revised Statutes 51:702
• Manufacturer: means any entity required to specify conspicuously its name and place of business on the label of a cosmetic in package form pursuant to 21 C. See Louisiana Revised Statutes 51:771
• Manufacturer: means any person who manufactures manufactured or modular housing. See Louisiana Revised Statutes 51:911.22
• Manufacturer: means any person engaged in making or construction of pyrotechnic compounds or component parts. See Louisiana Revised Statutes 51:650
• Manufacturer: means any person who is engaged, either directly or indirectly, in the manufacture of motor vehicles. See Louisiana Revised Statutes 51:661
• Member: means a contributing employee who is covered under the provisions of this Chapter. See Louisiana Revised Statutes 11:1902
• Minor child: means an unmarried child under the age of eighteen years who is: the issue of a marriage; the legally adopted child of a member of this system; the natural child of a female member of this system; the child of a male member of this system if a court of competent jurisdiction has made an order of filiation declaring the paternity of such a member for the child or if the father has formally acknowledged the child; or, who had a disability at the time of the member's death and who remains in such disability status. See Louisiana Revised Statutes 11:1902
• Mobile home: means a factory-built, residential dwelling unit built to voluntary standards prior to the passage of the National Manufactured Housing Construction and Safety Standards Act of 1974. See Louisiana Revised Statutes 51:911.22
• 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}
• Nolo contendere: No contest-has the same effect as a plea of guilty, as far as the criminal sentence is concerned, but may not be considered as an admission of guilt for any other purpose.
• Nonfunctional constituent: means any incidental ingredient as defined in 21 C. See Louisiana Revised Statutes 51:771
• Novelty: means a device containing small amounts of pyrotechnic or explosive composition but does not fall under the category of consumer fireworks. See Louisiana Revised Statutes 51:650
• offer: shall include every attempt or offer to dispose of or solicitation of an offer to buy a security or interest in a security for value. See Louisiana Revised Statutes 51:702
• Office: means the office of state fire marshal. See Louisiana Revised Statutes 51:650
• Parent: when used with reference to a specified person, means an affiliate controlling such person directly, or indirectly through one or more intermediaries. See Louisiana Revised Statutes 51:702
• Person: means a natural person, association, or group of natural persons, partnership, company, corporation, institution, or legal entity. See Louisiana Revised Statutes 51:911.22
• Person: includes any firm, corporation, association, co-partnership, or one or more individuals. See Louisiana Revised Statutes 51:650
• 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
• Person: means an individual, a corporation, a partnership, an association, a joint-stock company, a trust where the interest of the beneficiaries is evidenced by a security, or any unincorporated organization. See Louisiana Revised Statutes 51:702
• Plan A: means the revised plan to replace a combination of the regular and supplemental plans, to be effective January 1, 1980, as outlined in Part III. See Louisiana Revised Statutes 11:1902
• Plan B: means the revised plan to replace the regular plan, to be effective January 1, 1980, as outlined in Part IV. See Louisiana Revised Statutes 11:1902
• Plan C: means the plan to be effective July 1, 1997, as outlined in Part IV-A of this Chapter. See Louisiana Revised Statutes 11:1902
• 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.
• Power of attorney: A written instrument which authorizes one person to act as another's agent or attorney. The power of attorney may be for a definite, specific act, or it may be general in nature. The terms of the written power of attorney may specify when it will expire. If not, the power of attorney usually expires when the person granting it dies. ^{Source: OCC}
• 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.
• Probation: A sentencing alternative to imprisonment in which the court releases convicted defendants under supervision as long as certain conditions are observed.
• Prospectus: means any notice, circular, advertisement, sales literature, letter, offering circular, offering sheet, or communication, written or by radio or television, which offers any security for sale or which is used in connection with any such offer or which confirms the sale of any security, except that:

  (a)  A confirmation of the sale of a security which is sent or given after the effective date of the registration statement shall not be deemed a prospectus if it is proved that prior to or at the same time with such confirmation a written prospectus, meeting the requirements of La. See Louisiana Revised Statutes 51:702

• Proximate display: includes all indoor displays and means a pyrotechnic public display involving the ignition of Fireworks 1. See Louisiana Revised Statutes 51:650
• Public display: means the display of 1. See Louisiana Revised Statutes 51:650
• Public entity: includes but is not limited to the state, its agencies, departments, offices and commissions, political subdivisions, municipalities, and parishes. See Louisiana Revised Statutes 51:650
• purchase: include exchange, barter, gift, and offer to contract to sell or buy. See Louisiana Revised Statutes 51:661
• Pyrotechnic operator: means an individual who, by experience and examination, has demonstrated the necessary skill and ability for safely assembling, discharging, and supervising public displays of Fireworks 1. See Louisiana Revised Statutes 51:650
• Pyrotechnic special effects operator: means an individual who, by experience and examination, has demonstrated the necessary skill and ability for safely assembling, discharging, and supervising proximate displays of Fireworks 1. See Louisiana Revised Statutes 51:650
• Qualified individual: means any salesman, investment advisor representative, or person who serves in a supervisory, compliance, or other legal capacity for a dealer or investment advisor. See Louisiana Revised Statutes 51:732
• Ratite: means a flightless bird with a flat chestbone of the order Ratitae including but not limited to ostrich (Struthio camelus), rhea (Rhea americana), emu (Dromaius novaehollandiae), and cassowary (Casuarius). See Louisiana Revised Statutes 3:3112
• Restitution: The court-ordered payment of money by the defendant to the victim for damages caused by the criminal action.
• Retail drug trade: means the selling to the consumer, not for the purpose of resale, of any form of drugs, medicines, cosmetics, toilet preparations, drug sundries or allied articles, but does not include the sale of damaged merchandise if advertised, marked and sold as such, nor merchandise sold during the final liquidation of any business, or sold or donated for charitable purposes or to unemployment relief agencies, or to physicians, dentists, veterinarians or hospitals. See Louisiana Revised Statutes 51:521
• Retailer: means any person who is engaged wholly or in part in the business of buying, selling, distributing, brokering, or exchanging an interest in a manufactured or modular home with the intent to make a profit, monetary gain, or any thing of economic value. See Louisiana Revised Statutes 51:911.22
• Retailer: means any person engaged in the business of making sales of fireworks at retail to persons other than a distributor or a jobber. See Louisiana Revised Statutes 51:650
• retirement system: means the Parochial Employees' Retirement System of Louisiana, established as of January 1, 1953, defined in Chapter 5, Title 11 of the Louisiana Revised Statutes, and as subsequently amended. See Louisiana Revised Statutes 11:1902
• Revision date: means January 1, 1980, the effective date of the establishment of Plan A and Plan B. See Louisiana Revised Statutes 11:1902
• Revocable trust: A trust agreement that can be canceled, rescinded, revoked, or repealed by the grantor (person who establishes the trust).
• Sale: includes barter, exchange, or gift or offer therefor, and each such transaction made by any person, whether as principal, proprietor, agent, servant or employee. See Louisiana Revised Statutes 51:650
• Salesman: means an individual, other than a dealer registered under this Part, employed, appointed, or authorized by a dealer or by an issuer, to sell securities in this state, but does not include any person specified in La. See Louisiana Revised Statutes 51:702
• Salesman: means any person employed by a retailer or developer for purposes of selling manufactured or modular housing to the public. See Louisiana Revised Statutes 51:911.22
• Securities of the same class: means :

  (a)  All common stock of an issuer, regardless of varying series or designations, and all securities convertible into common stock or conferring the right to acquire common stock. See Louisiana Revised Statutes 51:702

• Security: means any note; stock; treasury stock; bond; debenture; evidence of indebtedness; certificate of interest or participation in any profit-sharing agreement; collateral-trust certificate; preorganization certificate or subscription; transferable share; investment contract; voting-trust certificate; certificate of deposit for a security; fractional undivided interest in oil, gas, or other mineral rights; any put, call, straddle, option, or privilege on any security, certificate of deposit, or group or index of securities (including any interest therein or based on the value thereof); or, in general, any interest or instrument commonly known as a "security"; or any certificate of interest or participation in, temporary or interim certificate for, receipt for, guarantee of, or warrant or right to subscribe to or purchase, any of the foregoing. See Louisiana Revised Statutes 51:702
• sell: means and shall include every contract of sale or disposition of a security or interest in a security for value. See Louisiana Revised Statutes 51:702
• Significant subsidiary: means a subsidiary meeting any one of the following conditions:

  (a)  The assets of the subsidiary or the investments in and advances to the subsidiary by its parent and the parent's other subsidiaries, if any, exceed ten percent of the assets of the parent and its subsidiaries on a consolidated basis. See Louisiana Revised Statutes 51:702

• State: means any state (or a designated state), territory, or possession of the United States, the District of Columbia, Puerto Rico and the Virgin Islands. See Louisiana Revised Statutes 51:702
• Subsidiary: when used with reference to a specified person, means an affiliate controlled by such person, directly or indirectly, through one or more intermediaries. See Louisiana Revised Statutes 51:702
• Supplier: means any entity that provides, whether directly or through a third party, any cosmetic ingredient used by a manufacturer in the formulation of a cosmetic product. See Louisiana Revised Statutes 51:771
• Surviving spouse: means a legal spouse who was married to a member at the time of the member's death and for at least twelve months immediately prior thereto. See Louisiana Revised Statutes 11:1902
• 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
• Testify: Answer questions in court.
• Transporter: means an individual who transports a manufactured or modular home to a site of installation but does not perform any blocking or anchoring of the home, except a transporter is allowed to put blocks under the hitch on the tongue of the frame. See Louisiana Revised Statutes 51:911.22
• under common control with: means the possession, direct or indirect, of the power to direct or cause the direction of the management and policies of a person, whether through the ownership of voting securities, by contract, or otherwise. See Louisiana Revised Statutes 51:702
• Underwriter: means any person who has purchased from an issuer or an affiliate of an issuer with a view to the distribution or offers or sells for an issuer or an affiliate of an issuer in connection with the distribution of any security or participates or has a direct or indirect participation in any such undertaking or participates or has a participation in the direct or indirect underwriting of any such undertaking, provided that:

  (a)  A person shall be presumed not to be an underwriter with respect to any securities which he has owned beneficially for at least one year. See Louisiana Revised Statutes 51:702

• Venue: The geographical location in which a case is tried.
• Wholesale distributor: means any person engaged, directly or indirectly, in the sale or distribution of motor vehicles to agents or dealers. See Louisiana Revised Statutes 51:661