Sections
Part I General Provisions and Definitions 9:3510 – 9:3518.4
Part II Maximum Charges 9:3519 – 9:3530
Part III Prepayment of Consumer Credit Transactions 9:3531 – 9:3533
Part IV Limitations On Agreements and Practices 9:3534 – 9:3536
Part V Home Solicitation Sales 9:3538 – 9:3541.1
Part V-A Home Solicitation of Persons Who Are Aged 9:3541.21 – 9:3541.22
Part VI Insurance Amount Per $100.00 9:3542 – 9:3549
Part VII Remedies and Penalties 9:3551 – 9:3553
Part VIII Administration 9:3554 – 9:3561.2
Part X Collection Practices 9:3562
Part XI Notification and Fees 9:3563 – 9:3565
Part XII Identity Theft 9:3568
Part XIII Disclosure of Personal Credit Information 9:3571 – 9:3571.3
Part XIV Loan Brokers 9:3572.1 – 9:3572.12
Part XV Credit Repair Services Organizations Act “notice of Cancellation I Hereby Cancel This Transaction. 9:3573.1 – 9:3573.16
Part XVI Advance Fee Loans 9:3574.1 – 9:3574.10
Part XIX College Campus Credit Card Solicitation Law 9:3577.1 – 9:3577.5

Terms Used In Louisiana Laws > Revised Statutes > Title 9 > CODE BOOK II > CODE TITLE XII > Chapter 2

  • Accident: means an unexpected or unforeseen actual, identifiable, precipitous event happening suddenly or violently, with or without human fault, and directly producing at the time objective findings of an injury which is more than simply a gradual deterioration or progressive degeneration. See Louisiana Revised Statutes 9:5212
  • Advance fee: means any consideration which is assessed or collected prior to the issuance of a written commitment to make a loan that is binding on the lender, provided that certain conditions precedent are satisfied. See Louisiana Revised Statutes 9:3574.2
  • Affiliate: as used in this Chapter , means a specific person who is directly or indirectly, through one or more intermediaries, controlled by, or controls, or is under common control with the person specified. See Louisiana Revised Statutes 9:3516
  • Agency: means the Louisiana Rehabilitation Services program of the office of workforce development within the Louisiana Workforce Commission, which licenses blind vendors. See Louisiana Revised Statutes 47:185
  • Agricultural purpose: means a purpose related to the production, harvest, exhibition, marketing, transportation, processing, or manufacture of agricultural products by a natural person who cultivates, plants, propagates or nurtures the agricultural products. See Louisiana Revised Statutes 9:3516
  • Amount deferred: means the cash price, subtracting any down payment, under a consumer credit sale, revolving charge or seller credit card account, plus any other charges, fees and closing costs authorized by law, that are financed by the creditor under the transaction or included in or added to the balance of the consumer's indebtedness subject to credit service charges. See Louisiana Revised Statutes 9:3516
  • Amount financed: means the amount borrowed under a consumer loan, revolving loan or lender credit card account, plus any other charges, fees, and closing costs authorized by law, that are financed by the creditor under the transaction, or included in or added to the balance of the consumer's indebtedness subject to loan finance charges. See Louisiana Revised Statutes 9:3516
  • association: means a corporation, or unincorporated association, owned by or composed of the unit owners and through which the unit owners manage and regulate the condominium. See Louisiana Revised Statutes 9:1121.103
  • billing cycle: means the time interval between regular periodic billing statement dates. See Louisiana Revised Statutes 9:3516
  • Borrower: means a person obtaining or desiring to obtain a loan of money, a credit card, or a line of credit. See Louisiana Revised Statutes 9:3574.2
  • Buyer: means an individual who is solicited to purchase or who purchases the services of a credit repair services organization. See Louisiana Revised Statutes 9:3573.2
  • Cash advance: means an advance of cash or a cash equivalent under a lender credit card account including but not limited to the purchase of a money order, wire transfer services, or the use of a convenience check to purchase goods or services. See Louisiana Revised Statutes 9:3516
  • Check: means any check, draft, item, orders or requests for payment of money, negotiable orders, withdrawal or any other instrument used to pay a debt or transfer money from one to another. See Louisiana Revised Statutes 9:3516
  • College campus: means the premises and grounds of an institution of postsecondary education. See Louisiana Revised Statutes 9:3577.2
  • Commission: means the Louisiana Workforce Commission. See Louisiana Revised Statutes 39:98.1
  • Commissioner: means the Louisiana commissioner of agriculture and forestry. See Louisiana Revised Statutes 15:433
  • Commissioner: means the commissioner of financial institutions. See Louisiana Revised Statutes 9:3516
  • Commissioner: means the commissioner of financial institutions. See Louisiana Revised Statutes 9:3577.2
  • Common elements: means the portion of the condominium property not a part of the individual units. See Louisiana Revised Statutes 9:1121.103
  • Common expenses: means :

    (a)  Expenses of administration, maintenance, repair, and replacement of the common elements. See Louisiana Revised Statutes 9:1121.103

  • Condominium property: means all interests in land, improvements thereon, and all servitudes and rights attaching to the condominium. See Louisiana Revised Statutes 9:1121.103
  • Consumer: means a natural person who purchases goods, services, or movable or immovable property or rights therein, for a personal, family, or household purpose and includes a purchaser or buyer in a consumer credit sale or transaction made with the use of a seller credit card or otherwise, or a borrower or debtor in a consumer loan, revolving loan account, or a lender credit card. See Louisiana Revised Statutes 9:3516
  • Consumer credit insurance: means insurance, other than insurance on property, by which the satisfaction of debt in whole or in part is a benefit provided, but does not include

    (a)  insurance issued as an isolated transaction on the part of the insurer not related to an agreement or plan for insuring debtors of the creditor; or

    (b)  insurance indemnifying the creditor against loss due to the debtor's default. See Louisiana Revised Statutes 9:3516

  • Consumer credit transaction: means a consumer loan or a consumer credit sale but does not include a motor vehicle credit transaction made pursuant to R. See Louisiana Revised Statutes 9:3516
  • Consumer loan: means a loan of money or its equivalent made by a supervised financial organization, a licensed lender, or lender in which the debtor is a consumer, and the loan is entered into primarily for personal, family, or household purposes and includes debts created by the use of a lender credit card, revolving loan account, or similar arrangement, as well as insurance premium  financing. See Louisiana Revised Statutes 9:3516
  • Council: means the Louisiana Workforce Investment Council. See Louisiana Revised Statutes 39:98.1
  • Credit card: means any card, plate, coupon book, or other single credit device that may be used from time to time to obtain credit. See Louisiana Revised Statutes 9:3516
  • Credit card: means a writing, number, or other evidence of an undertaking to pay for property or services delivered or rendered to or upon the order of a designated person or bearer. See Louisiana Revised Statutes 9:3577.2
  • Credit repair services organization: means a person who, with respect to a buyer, in return for the payment of money or other valuable consideration, directly or indirectly, provides or represents that he can or will, directly or indirectly, provide any of the following services:

    (a)  Improving a buyer's credit record, history, or rating. See Louisiana Revised Statutes 9:3573.2

  • Credit service charge: means the sum of the following:

    (i)  All charges payable directly or indirectly by the consumer and imposed directly or indirectly by the seller as an incident to the extension of credit, including any of the following types of charges that are applicable: time price differential; service; carrying or other charge, however denominated; premium or other charge for any guarantee or insurance protecting the seller against the consumer's default or other credit loss; and

    (ii)  Charges paid by the consumer for investigating the collateral or credit worthiness of the consumer or for commissions or brokerage for obtaining the credit, irrespective of the person to whom the charges are paid or payable, unless the seller had no notice of the charges when the credit was granted. See Louisiana Revised Statutes 9:3516

  • creditor: as used in this Chapter includes a seller in a consumer credit sale, revolving charge account, or transaction made with the use of a seller credit card or otherwise, or a lender in a consumer loan, a revolving loan account, or a lender credit card transaction. See Louisiana Revised Statutes 9:3516
  • Declarant: means :

    (a)  If the condominium has not yet been created, any person who offers to dispose of or disposes of his interest in a unit not previously disposed of; or

    (b)  If the condominium has been created, any person who has executed a declaration, or an amendment to a declaration to add additional property to the condominium regime, other than persons holding interests in the property solely as security for a debt or persons whose interest in the property will not be conveyed to unit owners. See Louisiana Revised Statutes 9:1121.103

  • declaration: means the instrument by which immovable property is made subject to this Part. See Louisiana Revised Statutes 9:1121.103
  • Department: shall mean the Department of Culture, Recreation and Tourism. See Louisiana Revised Statutes 14:122.2
  • Department: means the Department of Culture, Recreation and Tourism. See Louisiana Revised Statutes 14:125.1
  • Department: means Louisiana Rehabilitation Services. See Louisiana Revised Statutes 47:185
  • Dependent: means the person or persons to whom, under the provisions of Part II of this Chapter, compensation shall be paid upon the death of the injured employee. See Louisiana Revised Statutes 9:5212
  • Deploying parent: means a parent of a minor child whose parental rights have not been terminated and whose custody or visitation rights have not been restricted by court order to supervised visitation only, by a court of competent jurisdiction who is deployed or has received written orders to deploy with the United States military or any reserve component thereof. See Louisiana Revised Statutes 9:2117
  • Deployment: means military service in compliance with mandatory written orders, unaccompanied by any family member, for combat operations, contingency operations, peacekeeping operations, temporary duty, a remote tour of duty, or other active service. See Louisiana Revised Statutes 9:2117
  • Director: means the director of the office of workers' compensation administration. See Louisiana Revised Statutes 9:5212
  • Distressed neighborhood business district: shall mean a defined geographic area which includes buildings and structures which have housed businesses or other commercial activities and also includes adjacent residential areas  and which defined geographic area has pervasive poverty and unemployment, a high incidence of crime, narcotics use, homelessness, abandoned housing and deteriorated infrastructure, substantial population decline, or other similar indicators of general distress. See Louisiana Revised Statutes 14:122.2
  • Down payment: means an amount, including the value of any property used as a trade-in, paid to a seller to reduce the cash price of goods or services purchased under a consumer credit sale. See Louisiana Revised Statutes 9:3516
  • Eligible entity: shall mean a nonprofit organization designated by a municipality to receive grants pursuant to the provisions of this Chapter and which has been designated as exempt from federal income tax under Section 501(c)(3) of the Internal Revenue Code. See Louisiana Revised Statutes 14:122.2
  • Established residential neighborhood: means a defined geographic area which has consisted of buildings and structures for housing individuals and families which has existed as a residential neighborhood since before 1971. See Louisiana Revised Statutes 14:125.1
  • Executive director: means the executive director of the commission. See Louisiana Revised Statutes 39:98.1
  • Forest products: include the following:

    (a)  Products that are derived from woody biomass. See Louisiana Revised Statutes 15:433

  • Home protection plan: means a contract between the homeowner and a warranty or service company wherein the company is obligated to pay or reimburse the cost to repair or replace the covered built-in appliances or major mechanical systems of the consumer's home in the event of a breakdown. See Louisiana Revised Statutes 9:3516
  • home solicitation sale: is a consumer credit sale of goods or services or both, other than motor vehicles, farm equipment, or services, in which the seller or a person acting for him engages in a personal solicitation of the sale at any place other than the business establishment of the seller and consumer's agreement or offer to purchase is there given to the seller or a person acting for him. See Louisiana Revised Statutes 9:3516
  • home solicitation sale: as used in this Part , shall be defined as provided in R. See Louisiana Revised Statutes 9:3538
  • Incentives: means any tax exemption, tax credit, tax exclusion, tax deduction, rebate, investment, contract, or grant made available by the state to directly support the purchase of forestry products. See Louisiana Revised Statutes 15:433
  • Institution of postsecondary education: means any institution under the management of the Board of Supervisors for the University of Louisiana System, the Board of Supervisors of Louisiana State University and Agricultural and Mechanical College, the Board of Supervisors of Southern University and Agricultural and Mechanical College, and the Board of Supervisors of Community and Technical Colleges or any private or accredited college in the state. See Louisiana Revised Statutes 9:3577.2
  • lender credit card: includes a travel and entertainment credit card account that is not subject to loan finance charges or credit service charges. See Louisiana Revised Statutes 9:3516
  • Licensed lender: means a person licensed by the commissioner to make consumer loans pursuant to this Chapter. See Louisiana Revised Statutes 9:3516
  • Limited common elements: means those common elements reserved in the condominium declaration for the exclusive use of a certain unit or certain units. See Louisiana Revised Statutes 9:1121.103
  • Loan finance charge: means the sum of the following:

    (i)  All charges payable directly or indirectly by the consumer and imposed directly or indirectly by the lender as a requirement of the extension of credit, including any of the following types of charges that are applicable: interest or any amount payable under a point, discount, or other system of charges, however denominated; and

    (ii)  Charges paid by the consumer for investigating the collateral or credit worthiness of the consumer. See Louisiana Revised Statutes 9:3516

  • Loan originator or broker: means any person, except any regulated or supervised financial organization, credit union, licensed commercial or consumer lender, insurance company, consumer loan broker, or mortgage broker or lender, provided that the person excepted is licensed or registered with and subject to regulation or supervision by an agency of the United States or any state and is acting within the scope of the license, charter, or other permit, who:

    (a)  For, or in expectation of, consideration paid by the borrower, directly or indirectly arranges or attempts to arrange, or offers to fund or make a loan of money, a credit card, or a line of credit. See Louisiana Revised Statutes 9:3574.2

  • Office: means the Office of Financial Institutions in the office of the governor. See Louisiana Revised Statutes 9:3574.2
  • Office: means the office of workers' compensation administration established pursuant to R. See Louisiana Revised Statutes 9:5212
  • Order: means any custody or visitation judgment, decree, or order issued by a court of competent jurisdiction in this state or any judgment of another state which has been made executory in this state. See Louisiana Revised Statutes 9:2117
  • Organization: means corporation, government or governmental subdivision or agency, trust, estate, partnership, cooperative, or association. See Louisiana Revised Statutes 9:3516
  • Payor: means the entity responsible, whether by law or contract, for the payment of benefits incurred by a claimant as a result of a work related injury. See Louisiana Revised Statutes 9:5212
  • Person: as used in this Chapter means an individual or corporation, partnership, trust, association, joint venture pool, syndicate, sole proprietorship, unincorporated organization, or any other form of entity not specifically listed herein. See Louisiana Revised Statutes 9:3516
  • person: includes a body of persons, whether incorporated or not. See Louisiana Revised Statutes 33:2021
  • Person: means an individual, corporation, partnership, trust, association, joint venture pool, syndicate, sole proprietorship, unincorporated organization, or any other form of entity not specifically listed herein. See Louisiana Revised Statutes 9:3573.2
  • Person: means an individual or corporation, partnership, trust, association, joint venture pool, syndicate, sole proprietorship, unincorporated organization, or any other form of entity not specifically listed herein. See Louisiana Revised Statutes 9:3574.2
  • Precomputed consumer credit transaction: means a consumer credit transaction under which loan finance charges or credit service charges are computed in advance over the entire scheduled term of the transaction and capitalized into the face amount of the debtor's promissory note or other evidence of indebtedness. See Louisiana Revised Statutes 9:3516
  • Principal: means the amount financed or amount deferred under a consumer credit transaction. See Louisiana Revised Statutes 9:3516
  • Principal: means any officer, director, owner, sole proprietor, partner, member, joint venturer, manager, or other person with similar managerial or supervisory responsibilities for a person who makes or offers to make or broker loans, whatever his job title. See Louisiana Revised Statutes 9:3574.2
  • Pro rata: as used in this chapter refers to a method of computing deferral charges by dividing the precomputed loan finance charge or precomputed credit service charge by the total number of days in the contract and multiplying the sum by the number of days that are deferred. See Louisiana Revised Statutes 9:3516
  • Program: shall mean the Neighborhood Enhancement Program as established in this Chapter. See Louisiana Revised Statutes 14:122.2
  • Program: means the Magnolia Street Residential Neighborhood Enhancement Program as established by this Chapter. See Louisiana Revised Statutes 14:125.1
  • Randolph-Sheppard Act: means the federal law which enables the Blind Enterprise Program under the authority of 20 U. See Louisiana Revised Statutes 47:185
  • Revolving charge account: means an arrangement between a seller or issuer of a seller credit card honored by the seller and a consumer pursuant to which:

    (a)  The creditor permits the consumer to purchase goods or services on a preauthorized basis;

    (b)  The creditor reasonably contemplates repeated transactions;

    (c)  The creditor may impose a credit service charge from time to time on the outstanding unpaid balance of the consumer's account;

    (d)  The amount of credit that may be extended to the consumer, up to any limit set by the creditor, is generally made available to the extent that any outstanding balance is repaid; and

    (e)  No credit service charges may be imposed upon the consumer for a billing period if the account is paid in full within a period of twenty-five days from the billing date. See Louisiana Revised Statutes 9:3516

  • Revolving loan account: means an arrangement between a lender and a consumer pursuant to which:

    (i)  The creditor may permit the consumer to obtain consumer loan advances on a preauthorized basis;

    (ii)  The creditor reasonably contemplates repeated transactions;

    (iii)  The creditor may impose a loan finance charge from time to time on the outstanding unpaid balance of the consumer's account; and

    (iv)  The amount of credit that may be extended to the consumer under the account, up to any limit set by the creditor, is generally made available to the extent that any unpaid balance is repaid. See Louisiana Revised Statutes 9:3516

  • Seller credit card: means a revolving charge account that may be accessed by use of a credit card. See Louisiana Revised Statutes 9:3516
  • Simple interest transaction: means a consumer credit transaction under which loan finance charges or credit service charges are assessed by application of a contractual simple interest rate or rates to the unpaid balance of the debtor's promissory note, account or other evidence of indebtedness. See Louisiana Revised Statutes 9:3516
  • Solicitation: means an act of asking, enticing, or requesting a student to read, review, or consider materials relating to an application for a credit card or to complete an application for a credit card. See Louisiana Revised Statutes 9:3577.2
  • Student: means a person who is under twenty-one years of age and who attends an institution of postsecondary education, whether enrolled on a full-time or part-time basis. See Louisiana Revised Statutes 9:3577.2
  • Supervised financial organization: means either of the following:

    (a)  A banking or similar organization organized, certified, and supervised by an agency of either the United States of America or the state of Louisiana or any other state pursuant to the banking, currency, and related laws of the United States of America or of the state of Louisiana or any other state. See Louisiana Revised Statutes 9:3516

  • Unit: means a part of the condominium property subject to individual ownership. See Louisiana Revised Statutes 9:1121.103
  • Unpaid debt: as used in this Chapter means the total of the amount financed, loan finance charges, default charges, and delinquency charges including the amount due at the time of default plus all interest which may accrue from the time of default until the entire balance is paid. See Louisiana Revised Statutes 9:3516
  • Wages: means average weekly wage at the time of the accident. See Louisiana Revised Statutes 9:5212