Terms Used In Louisiana Revised Statutes > Title 51 > Chapter 25 - Loan Brokers

• Affirmed: In the practice of the appellate courts, the decree or order is declared valid and will stand as rendered in the lower court.
• 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.
• Appropriate governing authority: shall mean the governing authority of the city of Lafayette. See Louisiana Revised Statutes 33:4720.171
• authorized representative: includes one or more of the following:

  (a)  A title insurance company or agent licensed to conduct business in this state. See Louisiana Revised Statutes 33:4720.171

• Bonds: shall mean any bonds, notes, interim certificates, certificates of indebtedness, debenture, or other obligation. See Louisiana Revised Statutes 33:4720.171
• Chambers: A judge's office.
• City: shall mean the city of Lafayette. See Louisiana Revised Statutes 33:4720.171
• Deed: The legal instrument used to transfer title in real property from one person to another.
• district court: shall mean the Fifteenth Judicial District Court. See Louisiana Revised Statutes 33:4720.171
• Executive session: A portion of the Senate's daily session in which it considers executive business.
• Existing high rise buildings: means any building having floor surfaces used for human occupation located more than seventy-five feet above the lowest level of fire department vehicle access constructed before January 1, 1975. See Louisiana Revised Statutes 40:1642
• 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.
• Federal government: shall mean any department, agency, or instrumentality, corporate or otherwise, of the United States of America. See Louisiana Revised Statutes 33:4720.171
• Fire protection sprinkler system: means a system of overhead piping designed in accordance with fire protection engineering standards. See Louisiana Revised Statutes 40:1642
• 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}
• Immovable property: shall mean all lands, including improvements and fixtures thereon, and property of any nature appurtenant thereto, or used in connection therewith, and any other real right therein, including terms for years and liens by way of judgment, mortgage, or otherwise. See Louisiana Revised Statutes 33:4720.171
• Interest rate: The amount paid by a borrower to a lender in exchange for the use of the lender's money for a certain period of time. Interest is paid on loans or on debt instruments, such as notes or bonds, either at regular intervals or as part of a lump sum payment when the issue matures. ^{Source: OCC}
• Intestate: Dying without leaving a will.
• Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
• Master plan: means a specific scheme or plan detailing the number of floors, total square footage, present occupancy and a proposed completion date of each phase and completion date of total compliance with the requirement of this Subpart. See Louisiana Revised Statutes 40:1642
• Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
• Person: means an individual, association, joint venture, partnership, corporation, limited liability company, political subdivision, municipality, or public or private organization of any character, including any agency, department, board, bureau, office, commission, district, corporation, and quasi-public corporation of the federal, state, municipal, or local government. See Louisiana Revised Statutes 40:1615
• Personal property: All property that is not real property.
• Public body: shall mean the state and any parish and any board, authority, agency, district, subdivision, department, or instrumentality, corporate or otherwise, of the state or any parish. See Louisiana Revised Statutes 33:4720.171
• Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
• Testate: To die leaving a will.
• Trust account: A general term that covers all types of accounts in a trust department, such as estates, guardianships, and agencies. ^{Source: OCC}
• Trustee: A person or institution holding and administering property in trust.