Terms Used In Louisiana Revised Statutes > Title 9 > CODE TITLE X - Of Corporations

• Adjourn: A motion to adjourn a legislative chamber or a committee, if passed, ends that day's session.
• Affiliate: means any person who controls, is controlled by, or is under common control with a developer. See Louisiana Revised Statutes 9:1131.2
• Agricultural products: shall include aquacultural, horticultural, viticultural, forestry, dairy, livestock, poultry, bee, and farm and range products, and furbearing animals raised or produced on a defined acreage. See Louisiana Revised Statutes 3:4712
• Answer: The formal written statement by a defendant responding to a civil complaint and setting forth the grounds for defense.
• Appellate: About appeals; an appellate court has the power to review the judgement of another lower court or tribunal.
• Arraignment: A proceeding in which an individual who is accused of committing a crime is brought into court, told of the charges, and asked to plead guilty or not guilty.
• Attachment: A procedure by which a person's property is seized to pay judgments levied by the court.
• Bankruptcy: Refers to statutes and judicial proceedings involving persons or businesses that cannot pay their debts and seek the assistance of the court in getting a fresh start. Under the protection of the bankruptcy court, debtors may discharge their debts, perhaps by paying a portion of each debt. Bankruptcy judges preside over these proceedings.
• Base pay: means prescribed compensation for a specific position on a full-time basis, but does not include overtime, per diem, differential pay, payment in kind, premium pay, or any other allowance for expense authorized and incurred as an incident to employment, except supplemental pay for certain members as provided by Article X, Section 10(A)(1) of thethe Louisiana Constitution of 1974. See Louisiana Revised Statutes 11:403
• Basket: means a one and one-half bushel circular container that may be used for the measurement of oysters to be sold or purchased. See Louisiana Revised Statutes 3:4602
• Cemetery: means a place used or intended to be used for the interment of the human dead and, to the extent allowed in accordance with this Title, pet remains. See Louisiana Revised Statutes 8:1
• Commission: means the Commission of Weights and Measures. See Louisiana Revised Statutes 3:4602
• Commissioner: means the commissioner of the Department of Agriculture and Forestry, or his duly authorized representatives acting at his discretion. See Louisiana Revised Statutes 3:4602
• Common elements: means all portions of timeshare property other than units. See Louisiana Revised Statutes 9:1131.2
• Common elements: means the portion of the condominium property not a part of the individual units. See Louisiana Revised Statutes 9:1121.103
• Complaint: A written statement by the plaintiff stating the wrongs allegedly committed by the defendant.
• Completion of construction: means :

  (a)(i)  That a certificate of occupancy has been issued for the entire building in which the timeshare interest being sold is located, or for the improvement, or that the equivalent authorization has been issued, by the governmental body having jurisdiction; or

  (ii)  In a jurisdiction in which no certificate of occupancy or equivalent authorization is issued, that the construction, finishing, and equipping of the building or improvements according to the plans and specifications have been substantially completed; and

  (b)  That all accommodations of the timeshare unit and facilities of the timeshare plan are available for use in a manner identical in all material respects to the manner portrayed by the promotional material, advertising, and public offering statements filed with the Louisiana Real Estate Commission. See Louisiana Revised Statutes 9:1131.2

• Conspicuous type: means type in boldfaced capital letters no smaller than the largest type, exclusive of headings, on the page on which it appears and, in all cases, at least 10-point type. See Louisiana Revised Statutes 9:1131.2
• Contract: includes any agreement conferring the rights and obligations of a timeshare ownership on the purchaser. See Louisiana Revised Statutes 9:1131.2
• Contract: A legal written agreement that becomes binding when signed.
• Conviction: A judgement of guilt against a criminal defendant.
• 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.
• Credit bureau: An agency that collects individual credit information and sells it for a fee to creditors so they can make a decision on granting loans. Typical clients include banks, mortgage lenders, credit card companies, and other financing companies. (Also commonly referred to as consumer-reporting agency or credit-reporting agency.) ^{Source: OCC}
• Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
• Decedent: A deceased person.
• 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 the timeshare property is made subject to a timeshare plan. See Louisiana Revised Statutes 9:1131.2
• declaration: means the instrument by which immovable property is made subject to this Part. See Louisiana Revised Statutes 9:1121.103
• Deed: The legal instrument used to transfer title in real property from one person to another.
• Department: means the Louisiana Department of Agriculture and Forestry. See Louisiana Revised Statutes 3:4602
• Department: means the Department of Agriculture and Forestry. See Louisiana Revised Statutes 3:1
• Dependent: A person dependent for support upon another.
• Developer: means the person, or any successor or assignee of such person, who creates the timeshare plan or who is in the business of making sales of timeshare interests which it owns or purports to own. See Louisiana Revised Statutes 9:1131.2
• Earned compensation: means the base pay earned by an employee for a given pay period as reported to the system on a monthly basis by the agency which shall include the cash value of any emolument of office in the form of paid compensation in lieu of salary which is subject to federal and state payroll taxes and includes the full amount earned by an employee, overtime, and per diem earned by an employee of the House of Representatives, the Senate, or an agency of the legislature, and expense allowances and per diem paid to members of the legislature, the clerk, or sergeant at arms of the House of Representatives and president and secretary or sergeant at arms of the Senate. See Louisiana Revised Statutes 11:403
• Enrolled bill: The final copy of a bill or joint resolution which has passed both chambers in identical form. It is printed on parchment paper, signed by appropriate officials, and submitted to the President/Governor for signature.
• Escrow: Money given to a third party to be held for payment until certain conditions are met.
• Exchange company: means the person operating a program providing any opportunity or procedure for the assignment or exchange of timeshare interests among owners and purchasers in the same or other timeshare plans. See Louisiana Revised Statutes 9:1131.2
• 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.
• Fiduciary: A trustee, executor, or administrator.
• 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}
• 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
• Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
• Human remains: means the body of a deceased person and includes the body in any stage of decomposition, as well as cremated remains. See Louisiana Revised Statutes 8:1
• Indictment: The formal charge issued by a grand jury stating that there is enough evidence that the defendant committed the crime to justify having a trial; it is used primarily for felonies.
• Injunction: An order of the court prohibiting (or compelling) the performance of a specific act to prevent irreparable damage or injury.
• Interment: means the disposition of human remains by inurnment, scattering, entombment, or burial in a place used or intended to be used, and dedicated, for cemetery purposes. See Louisiana Revised Statutes 8:1
• Law clerk: Assist judges with research and drafting of opinions.
• Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). ^{Source: OCC}
• Lease timeshare interest: means an interest in which a person receives the right to use or occupy, however evidenced or documented, immovable property for a period of time or intervals of time which can be less than a full year during each year, over a period of more than three years. See Louisiana Revised Statutes 9:1131.2
• Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
• Lien: A claim against real or personal property in satisfaction of a debt.
• Litigation: A case, controversy, or lawsuit. Participants (plaintiffs and defendants) in lawsuits are called litigants.
• Livestock: means cattle, buffalo, bison, oxen, and other bovine; horses, mules, donkeys, and other equine; sheep; goats; swine; domestic rabbits; fish, turtles, and other animals identified with aquaculture that are located in artificial reservoirs or enclosures that are both on privately owned property and constructed so as to prevent, at all times, the ingress and egress of fish life from public waters; imported exotic deer and antelope, elk, farm-raised white-tailed deer, farm-raised ratites, and other farm-raised exotic animals; chickens, turkeys, and other poultry; and animals placed under the jurisdiction of the commissioner of agriculture and forestry and any hybrid, mixture, or mutation of any such animal. See Louisiana Revised Statutes 3:2802
• Managing entity: means an entity with the duty to manage and operate the timeshare plan and/or the timeshare property. See Louisiana Revised Statutes 9:1131.2
• Minor child: means an unmarried child under the age of eighteen years or an unmarried student under the age of twenty-three years who is the issue of a marriage of a member of this system, the legally adopted child of a member of this system, a child born outside of marriage of a female member of this system, or the child of a male member of this system if acknowledged or filiated pursuant to the provisions of the Civil Code. See Louisiana Revised Statutes 11:403
• Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
• Mortgagee: The person to whom property is mortgaged and who has loaned the money.
• mother: means a female human being, whether or not she has reached the age of majority. See Louisiana Revised Statutes 14:87.1
• Net weight: means the weight of the commodity excluding any materials, substances, or items not considered to be part of the commodity. See Louisiana Revised Statutes 3:4602
• 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.
• Oral argument: An opportunity for lawyers to summarize their position before the court and also to answer the judges' questions.
• Owner: means any person who owns or is a co-owner of a timeshare interest. See Louisiana Revised Statutes 9:1131.2
• Ownership timeshare interest: means an interest in which a person receives the right to use or occupy, however evidenced or documented, immovable property for a period of less than a full year during each year, over a period of more than three years, coupled with an ownership interest in immovable property. See Louisiana Revised Statutes 9:1131.2
• Package: means any commodity packed or packaged in any manner in advance of sale in units suitable for either wholesale or retail sale. See Louisiana Revised Statutes 3:4602
• Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
• Person: means both plural and singular, as the case demands, and includes individuals, partnerships, corporations, companies, societies, and associations

              (14)(a) Except as provided in Subparagraph (b) of this Paragraph, "petroleum product" means any refined hydrocarbon mixture including motor oil, kerosene, gasoline, gasohol, diesel fuel, aviation fuel, heating kerosene, and any blend of two or more refined hydrocarbon mixtures except liquefied petroleum gas and natural gas. See Louisiana Revised Statutes 3:4602

• Person: means an individual, partnership, corporation, or other legal entity. See Louisiana Revised Statutes 9:1131.2
• 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
• Personal property: All property that is not real property.
• petroleum product: shall include compressed natural gas, liquefied natural gas, and liquefied petroleum gas as those terms are defined in La. See Louisiana Revised Statutes 3:4602
• 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.
• Professional social work corporation: means a corporation organized pursuant to this Chapter for the practice of social work. See Louisiana Revised Statutes 12:1400
• Project: includes but is not limited to condominiums and cooperative housing corporations. See Louisiana Revised Statutes 9:1131.2
• Purchaser: means any person to whom a timeshare interest is offered or who has contracted to purchase a timeshare interest. See Louisiana Revised Statutes 9:1131.2
• Quorum: The number of legislators that must be present to do business.
• Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
• Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.
• Reporter: Makes a record of court proceedings and prepares a transcript, and also publishes the court's opinions or decisions (in the courts of appeals).
• Rescission: The cancellation of budget authority previously provided by Congress. The Impoundment Control Act of 1974 specifies that the President may propose to Congress that funds be rescinded. If both Houses have not approved a rescission proposal (by passing legislation) within 45 days of continuous session, any funds being withheld must be made available for obligation.
• Service of process: The service of writs or summonses to the appropriate party.
• 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.
• Ship: means a tug, pushboat, pullboat, barge, dredge, or other vessel or watercraft of more than fifty tons gross weight to be constructed within the state of Louisiana. See Louisiana Revised Statutes 9:5522
• Statute: A law passed by a legislature.
• Testify: Answer questions in court.
• Timeshare association: means a corporation owned by the timeshare interest owners and through which the timeshare interest owners manage and regulate the timeshare property. See Louisiana Revised Statutes 9:1131.2
• Timeshare documents: means all of the documents, by whatever names denominated, and any amendments thereto, which establish the timeshare plan, create and govern the rights and relationships of owners, and govern the use and operation of the timeshare property. See Louisiana Revised Statutes 9:1131.2
• Timeshare expenses: means any expenditures, fees, charges, or other liabilities for which an owner of a timeshare interest is liable as a result of the ownership of the timeshare interest. See Louisiana Revised Statutes 9:1131.2
• Timeshare instrument: means the legal document or documents, by whatever names denominated, that convey a timeshare interest to a purchaser. See Louisiana Revised Statutes 9:1131.2
• Timeshare interest: means an ownership "timeshare interest" a lease timeshare interest, a timeshare estate, and a timeshare use unless expressly provided otherwise and includes any of the following:

  (a)  A "timeshare estate" which is the right to occupy a timeshare property, coupled with present ownership or some right to future ownership in a timeshare property or a specified portion thereof. See Louisiana Revised Statutes 9:1131.2

• Timeshare plan: means any arrangement, plan, scheme, or similar device, other than an exchange program, whether by membership agreement, sale, lease, license, other act of conveyance, or right-to-use agreement or by any other means, whereby a purchaser, in exchange for consideration, receives ownership rights in or the right to use accommodations for a period of time less than a full year during any given year, but not necessarily for consecutive years. See Louisiana Revised Statutes 9:1131.2
• Timeshare property: means one or more timeshare units subject to the same timeshare plan, together with any common elements or any other immovable property, or rights therein, appurtenant to those units. See Louisiana Revised Statutes 9:1131.2
• Timeshare unit: means a unit which is the subject of a timeshare plan. See Louisiana Revised Statutes 9:1131.2
• Transcript: A written, word-for-word record of what was said, either in a proceeding such as a trial or during some other conversation, as in a transcript of a hearing or oral deposition.
• Trial: A hearing that takes place when the defendant pleads "not guilty" and witnesses are required to come to court to give evidence.
• Uniform Commercial Code: A set of statutes enacted by the various states to provide consistency among the states' commercial laws. It includes negotiable instruments, sales, stock transfers, trust and warehouse receipts, and bills of lading. ^{Source: OCC}
• Unit: means immovable property, or a portion thereof, designated for separate occupancy. See Louisiana Revised Statutes 9:1131.2
• Unit: means a part of the condominium property subject to individual ownership. See Louisiana Revised Statutes 9:1121.103
• Use period: means the increments of time into which a timeshare unit or the timeshare property is divided for the purpose of allocating rights of use and occupancy to the owners. See Louisiana Revised Statutes 9:1131.2
• Vehicle tank: means any vehicle tank, tank truck, tank wagon, or any other container in which gasoline, motor fuel, or any other petroleum products are transported in this state. See Louisiana Revised Statutes 3:4602