Terms Used In Louisiana Revised Statutes > Title 9 > CODE TITLE XIII - Of Deposit and Sequestration

• Accumulated contributions: means the sum of all the amounts deducted from the compensation of a member and credited to his individual account in the annuity savings fund, together with regular interest thereon. See Louisiana Revised Statutes 11:1002
• Accumulated contributions: means the sum of all regular contributions, plus regular interest thereon, placed to the credit of the participant in the annuity savings account. See Louisiana Revised Statutes 11:951.1
• Actuarial equivalent: means a benefit of equivalent value to the accumulated contributions, annuity, or benefits, as the case may be, computed upon the basis of such interest and mortality assumptions as are adopted by the board or provided in law. See Louisiana Revised Statutes 11:3682
• Actuarial equivalent: means a benefit of equal value when computed upon the basis of the mortality tables adopted by the board of trustees plus regular interest. See Louisiana Revised Statutes 11:951.1
• 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
• 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 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
• Annuity: means annual payments for life, payable in equal monthly installments, derived from the accumulated contributions placed to the credit of the participant in the annuity reserve account. See Louisiana Revised Statutes 11:951.1
• Annuity reserve: means the present value of all payments to be made on account of an annuity or benefit in lieu of any annuity computed upon the basis of such mortality tables accepted by the board of trustees, plus regular interest. See Louisiana Revised Statutes 11:951.1
• Appeal: A request made after a trial, asking another court (usually the court of appeals) to decide whether the trial was conducted properly. To make such a request is "to appeal" or "to take an appeal." One who appeals is called the appellant.
• Appellate: About appeals; an appellate court has the power to review the judgement of another lower court or tribunal.
• Attachment: A procedure by which a person's property is seized to pay judgments levied by the court.
• Average final compensation: means the average annual earned compensation of an employee for any period of thirty-six successive or joined months of service as an employee during which the said earned compensation was the highest. See Louisiana Revised Statutes 11:3682
• 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.
• Beneficiary: means any person designated to receive a pension, an annuity, a retirement allowance, or other benefit as provided by this Subpart. See Louisiana Revised Statutes 11:3682
• Beneficiary: means any person in receipt of a pension, an annuity, a retirement allowance or other benefits provided for in this Part. See Louisiana Revised Statutes 11:951.1
• Bequest: Property gifted by will.
• board: means the board provided for in La. See Louisiana Revised Statutes 11:3682
• Board of Trustees: means the board provided to administer the retirement system. See Louisiana Revised Statutes 11:1002
• Board of trustees: means and includes the members of the board of trustees of the retirement system. See Louisiana Revised Statutes 11:951.1
• Brand: means an identification mark hot or cold branded into or onto the hide of a live animal. See Louisiana Revised Statutes 3:731
• Chambers: A judge's office.
• 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
• Commission: means the Livestock Brand Commission. See Louisiana Revised Statutes 3:731
• Commissioner: means the commissioner of agriculture. See Louisiana Revised Statutes 3:731
• Commissioner: means the commissioner of financial institutions. See Louisiana Revised Statutes 9:3516
• Common law: The legal system that originated in England and is now in use in the United States. It is based on judicial decisions rather than legislative action.
• Compensation: means a payment of money, objects, services, or anything else having monetary value. See Louisiana Revised Statutes 9:2718.1
• Complaint: A written statement by the plaintiff stating the wrongs allegedly committed by the defendant.
• 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 La. 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
• Continuance: Putting off of a hearing ot trial until a later time.
• Court: means a court of competent jurisdiction in the parish of the domicile of the minor. See Louisiana Revised Statutes 9:751
• 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 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

• Creditable service: means service for which credit is allowable as provided in La. See Louisiana Revised Statutes 11:3682
• Creditable service: means "prior service" plus "in service" plus "membership service" for which credit is allowable as provided in Part III of this Chapter. See Louisiana Revised Statutes 11:1002
• Creditable service: means prior service plus subsequent service for which credit is allowable as provided for in this Part. See Louisiana Revised Statutes 11:951.1
• 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
• Custodial property: means any interest in property transferred to a custodian under this Subpart and the income from and proceeds of that interest in property. See Louisiana Revised Statutes 9:751
• Custodian: means a person so designated under La. See Louisiana Revised Statutes 9:751
• Decedent: A deceased person.
• Deed: The legal instrument used to transfer title in real property from one person to another.
• Defined benefit plan: means a pension plan established and maintained by an employer primarily to provide systematically for the payment of definitely determinable benefits to employees over a period of years after retirement based upon factors such as years of service and compensation received by employees. See Louisiana Revised Statutes 11:3682
• Defined contribution plan: means a pension plan established and maintained by an employer which provides benefits based upon amounts contributed to an employee's individual account, plus any earnings allocated to the account, for distribution to the employee or his beneficiary either at retirement, after a fixed number of years, or upon the occurrence of some special event. See Louisiana Revised Statutes 11:3682
• Department: means the Department of Agriculture and Forestry. See Louisiana Revised Statutes 3:1
• Dependent: A person dependent for support upon another.
• Direct rollover: means a payment by the system to the eligible retirement plan specified by the distributee. See Louisiana Revised Statutes 11:3682
• Distributee: means a member or former member. See Louisiana Revised Statutes 11:3682
• Donor: The person who makes a gift.
• 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
• Earnable compensation: means the full rate of the compensation that would be payable to a participant if he worked the full normal working time during the year. See Louisiana Revised Statutes 11:951.1
• Earned compensation: means the full amount of compensation earned by an employee for a given month, but shall not include overtime. See Louisiana Revised Statutes 11:3682
• Eligible retirement plan: means an individual retirement account described in Section 408(a), an individual retirement annuity described in Section 408(b), an annuity plan described in Section 403(a), or a qualified trust described in Section 401(a), all of the Internal Revenue Code, that accepts the member's eligible rollover distribution. See Louisiana Revised Statutes 11:3682
• Eligible rollover distribution: means any distribution of all or any portion of the balance to the credit of a member, except that an eligible rollover distribution does not include any distribution that is one of a series of substantially equal periodic payments not less frequently than annually, made for the life or life expectancy of the member or the joint lives or joint life expectancies of the member and the member's designated beneficiary, or for a specified period of ten years or more, or any distribution to the extent such distribution is required under Section 401(a)(9) of the Internal Revenue Code, or the portion of any distribution that is not includable in gross income. See Louisiana Revised Statutes 11:3682
• Employee: means any commissioned member or employee of the Harbor Police Department of the Port of New Orleans prior to July 1, 2004, or any commissioned member of the Harbor Police Department of the Port of New Orleans on or after July 1, 2004 and hired on or before June 30, 2014. See Louisiana Revised Statutes 11:3682
• Employee: means any person legally occupying a position as a school bus driver who actually renders a service by driving a school bus during the full time of his employment, a school janitor, a school custodian, a school maintenance employee, school bus aide, monitor or attendant, or other regular school employee who actually works on a school bus helping with the transportation of school children, and who is a legal employee of a parish or city school board of the state of Louisiana, and shall include the employees of this system. See Louisiana Revised Statutes 11:1002
• Employee: means any person regularly employed in any capacity under the control of the Orleans Parish School Board who is not a teacher or whose legal employment does not require the holding of a teacher's certificate, including employees of the public school lunch department, all skilled and unskilled employees of the maintenance department, managers, custodians, subcustodians, and others who are not temporarily employed, and are paid out of funds under the control of the Orleans Parish School Board, who are not now eligible for membership in any other retirement system created or established by the State of Louisiana or any of its political subdivisions. See Louisiana Revised Statutes 11:951.1
• Employer: means the Board of Commissioners of the Port of New Orleans. See Louisiana Revised Statutes 11:3682
• Employer: means the state of Louisiana or any parish or city school board from which any employee receives his compensation. See Louisiana Revised Statutes 11:1002
• Escrow: Money given to a third party to be held for payment until certain conditions are met.
• Executor: A male person named in a will to carry out the decedent
• 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}
• Finance charge: The total cost of credit a customer must pay on a consumer loan, including interest. The Truth in Lending Act requires disclosure of the finance charge. ^{Source: OCC}
• Financial institution: means a bank, trust company, savings institution, or credit union, chartered and supervised under state or federal law. See Louisiana Revised Statutes 9:751
• Forbearance: A means of handling a delinquent loan. A
• Fund: means an independent fiscal and accounting entity with a self-balancing set of accounts recording cash or other resources together with all related liabilities, obligations, reserves, and equities which are segregated for the purpose of carrying on specific activities or attaining certain objectives in accordance with regulations, restrictions, and limitations. See Louisiana Revised Statutes 39:2
• 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
• Genetic gestational carrier: means the process by which a woman attempts to carry and give birth to a child using her own gametes and either the gametes of a person who intends to parent the child or donor gametes, when there is an agreement to relinquish the custody of and all rights and obligations to the child. See Louisiana Revised Statutes 9:2718.1
• Gestational carrier: means a woman who agrees to engage in a process by which she attempts to carry and give birth to a child born as a result of an in utero transfer of a human embryo to which she makes no genetic contribution. See Louisiana Revised Statutes 9:2718.1
• Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
• Grantor: The person who establishes a trust and places property into it.
• Gross estate: The total fair market value of all property and property interests, real and personal, tangible and intangible, of which a decedent had beneficial ownership at the time of death before subtractions for deductions, debts, administrative expenses, and casualty losses suffered during estate administration.
• home solicitation sale: as used in this Part , shall be defined as provided in La. See Louisiana Revised Statutes 9:3538
• In service: means service rendered after June 30, 1947, for which retirement credit has not been received and for which credit is allowable under Part III of this Chapter. See Louisiana Revised Statutes 11:1002
• In utero embryo transfer: means the medical procedure whereby the genetic mother's egg is fertilized with the sperm of the genetic father, with the resulting embryo transferred into the uterus of the gestational carrier. See Louisiana Revised Statutes 9:2718.1
• Injunction: An order of the court prohibiting (or compelling) the performance of a specific act to prevent irreparable damage or injury.
• Intended parents: means a married couple who each exclusively contribute their own gametes to create their embryo and who enter into an enforceable gestational carrier contract, as defined in this Chapter, with a gestational carrier pursuant to which the intended parents will be the legal parents of the child resulting from an in utero embryo transfer. See Louisiana Revised Statutes 9:2718.1
• Jurisprudence: The study of law and the structure of the legal system.
• Legacy: A gift of property made by will.
• 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
• Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
• Licensed lender: means a person licensed by the commissioner to make consumer loans pursuant to this Chapter. See Louisiana Revised Statutes 9:3516
• 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

• Marital deduction: The deduction(s) that can be taken in the determination of gift and estate tax liabilities because of the existence of a marriage or marital relationship.
• Mark: means a distinct marking or device placed on or in a live animal sufficient to distinguish the animal readily if it becomes intermixed with other animals, including a tattoo or an electronic device. See Louisiana Revised Statutes 3:731
• Medical board: means the board of physicians provided for in La. See Louisiana Revised Statutes 11:3682
• Medical board: means the board of physicians provided for in this Part. See Louisiana Revised Statutes 11:951.1
• Medical board: shall mean the State Medical Disability Board. See Louisiana Revised Statutes 11:1002
• Member: includes any employees, as defined in Paragraph (16) of this Section, included in the membership of this plan as provided in La. See Louisiana Revised Statutes 11:3682
• Member: means any teacher included in the membership of the system as provided in Part II of this Chapter. See Louisiana Revised Statutes 11:701
• Member: means any school employee, as defined in Paragraph (13) of this Section, as provided in Part II of this Chapter. See Louisiana Revised Statutes 11:1002
• Membership service: means service as an employee while a member of the Harbor Police Retirement System or this plan. See Louisiana Revised Statutes 11:3682
• Membership service: means service as an employee rendered while a member of the retirement system. See Louisiana Revised Statutes 11:1002
• Minor: means an individual who has not attained the age of twenty-two years. See Louisiana Revised Statutes 9:751
• Normal service retirement age: means age sixty. See Louisiana Revised Statutes 11:951.1
• Organization: means corporation, government or governmental subdivision or agency, trust, estate, partnership, cooperative, or association. See Louisiana Revised Statutes 9:3516
• Participant: means any employee who is entitled to the beneficial provisions of this retirement system. See Louisiana Revised Statutes 11:951.1
• Pension: means annual payments for life, payable in equal monthly installments, derived from money provided by the Orleans Parish School Board and other amounts accumulated in the pension accumulation account as provided for in this Part. See Louisiana Revised Statutes 11:951.1
• Pension reserve: means the present value of all payments to be made on account of any pension or benefit in lieu of any pension computed upon the basis of mortality tables adopted by the board of trustees, plus regular interest. See Louisiana Revised Statutes 11:951.1
• Pensions: means payments for life. See Louisiana Revised Statutes 11:701
• Person: means an individual, firm, partnership, corporation, or other association. See Louisiana Revised Statutes 3:731
• 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: means an individual, corporation, organization, or other legal entity. See Louisiana Revised Statutes 9:751
• Personal representative: means an executor, administrator, or representative of a decedent's estate or a person legally authorized to perform substantially the same functions. See Louisiana Revised Statutes 9:751
• Plan: means the Harbor Police Retirement Plan established in this Subpart and administered as a plan within the Louisiana State Employees' Retirement System pursuant to La. See Louisiana Revised Statutes 11:3682
• Port commission: means the Board of Commissioners of the Port of New Orleans. See Louisiana Revised Statutes 11:3682
• 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}
• Principal: means the amount financed or amount deferred under a consumer credit transaction. See Louisiana Revised Statutes 9:3516
• Prior service: means service rendered prior to August 1, 1971 for which credit is allowable as provided in La. See Louisiana Revised Statutes 11:3682
• Prior service: means service rendered by an employee prior to the effective date of the establishment of this retirement system for which credit is allowable as provided in this Part. See Louisiana Revised Statutes 11:951.1
• Probable cause: A reasonable ground for belief that the offender violated a specific law.
• Probate: Proving a will
• Program: means a grouping of activities directed toward the accomplishment of a clearly defined objective or set of objectives. See Louisiana Revised Statutes 39:2
• Public school: means any school conducted within the state under the authority and supervision of a city, parish, or other local school board and any educational institution supported by and under the control of the state. See Louisiana Revised Statutes 11:701
• Qualified participant: means a member of the system who first became a member before January 1, 1990. See Louisiana Revised Statutes 11:3682
• Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
• Regular contributions: means the contributions deducted from the compensation of a participant subsequent to the effective date of the establishment of this retirement system as required by this Part and placed to the credit of the participant in the annuity savings account. See Louisiana Revised Statutes 11:951.1
• Regular interest: means interest compounded annually at such rate as shall be determined by the board of trustees. See Louisiana Revised Statutes 11:951.1
• Retirement: means withdrawal from active service with a retirement allowance granted under the provisions of this Subpart. See Louisiana Revised Statutes 11:3682
• Retirement: means withdrawal from active service with a retirement allowance granted under the provisions of this Chapter. See Louisiana Revised Statutes 11:1002
• Retirement: means withdrawal from active service with a retirement allowance allowable under the provisions of this Part. See Louisiana Revised Statutes 11:951.1
• Retirement allowance: means any benefit paid to a member under La. See Louisiana Revised Statutes 11:3682
• Retirement allowance: means the sum of annuity and the pensions or any optional benefit payable in lieu thereof. See Louisiana Revised Statutes 11:1002
• Retirement allowance: means the sum of the annuity and the pension, or any other benefits payable in lieu thereof. See Louisiana Revised Statutes 11:951.1
• Retirement system: means the corporation known as the Orleans Parish School Employees' Retirement System established in La. See Louisiana Revised Statutes 11:951.1
• 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 credit: A credit agreement (typically a credit card) that allows a customer to borrow against a preapproved credit line when purchasing goods and services. The borrower is only billed for the amount that is actually borrowed plus any interest due. (Also called a charge account or open-end credit.) ^{Source: OCC}
• 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
• Service: means service rendered as an employee as described in Paragraph (16) of this Section. See Louisiana Revised Statutes 11:3682
• Service: means service rendered by an employee as herein defined. See Louisiana Revised Statutes 11:951.1
• Service of process: The service of writs or summonses to the appropriate party.
• Spouse: means that person who is legally married to the member on the member's effective date of retirement or effective date of participation in the Deferred Retirement Option Plan, whichever is earlier. See Louisiana Revised Statutes 11:3682
• Spouse: means a person who is legally married to a member of this system and shall not include a person who is legally separated from a member of this system by a judgment of separation. See Louisiana Revised Statutes 11:1002
• State: includes any state of the United States, the District of Columbia, the Commonwealth of Puerto Rico, and any territory or possession subject to the legislative authority of the United States. See Louisiana Revised Statutes 9:751
• Subpoena: A command to a witness to appear and give testimony.
• Subsequent service: means service rendered by an employee subsequent to the effective date of the establishment of this retirement system and while a participant in this retirement system. See Louisiana Revised Statutes 11:951.1
• system: means the Louisiana State Employees' Retirement System. See Louisiana Revised Statutes 11:3682
• Testator: A male person who leaves a will at death.
• Testimony: Evidence presented orally by witnesses during trials or before grand juries.
• Transfer: means a transaction that creates custodial property under La. See Louisiana Revised Statutes 9:751
• Transferor: means a person who makes a transfer under this Subpart. See Louisiana Revised Statutes 9:751
• Trust company: means a financial institution, corporation, or other legal entity authorized to exercise general trust powers. See Louisiana Revised Statutes 9:751
• Tutor: means a person appointed or qualified by a court to act as guardian of a minor's property or a person legally authorized to perform substantially the same functions, including but not limited to a curator. See Louisiana Revised Statutes 9:751
• 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
• Verdict: The decision of a petit jury or a judge.