Terms Used In Louisiana Revised Statutes > Title 9 > CODE TITLE XX-A - Pledge

• Acquittal:
  1. Judgement that a criminal defendant has not been proved guilty beyond a reasonable doubt.
  2. A verdict of "not guilty."
   
• Acting in concert: means persons who knowingly act together with a common goal of jointly acquiring control of a licensee whether or not pursuant to an express agreement. See Louisiana Revised Statutes 6:1382
• Affiliate: means any person who controls, is controlled by, or is under common control with another person. See Louisiana Revised Statutes 6:1382
• Agency: as used in this Chapter shall have the same meaning ascribed to it as provided in La. See Louisiana Revised Statutes 39:1556
• Applicant: means a person who applies for a license pursuant to this Chapter. See Louisiana Revised Statutes 6:1382
• Applicant: means a natural person or any individual who applies on behalf of a partnership, corporation, cooperative association, limited liability company, joint stock association, sole proprietorship, joint venture, business association, professional corporation, or any other legal entity or organization through which business is conducted for a grower, processor, handler, or industrial hemp seed producer license. See Louisiana Revised Statutes 3:1462
• Blockchain: means any ledger of exchange, sale, or transfer of virtual currency which is accessible by computers or operators that are part of any virtual currency network. See Louisiana Revised Statutes 6:1382
• Board: means the board of trustees of the Assessors' Retirement Fund. See Louisiana Revised Statutes 11:1402
• Central purchasing agency: means the office of state procurement. See Louisiana Revised Statutes 39:1556
• Chief procurement officer: means the person holding the position created in La. See Louisiana Revised Statutes 39:1556
• Commission: means the Agricultural Chemistry and Seed Commission. See Louisiana Revised Statutes 3:1462
• Commissioner: means the commissioner of the office of financial institutions. See Louisiana Revised Statutes 6:1382
• Commissioner: means the Louisiana commissioner of agriculture and forestry. See Louisiana Revised Statutes 3:1462
• Contract: means all types of state agreements, regardless of what they may be called, including orders and documents purporting to represent grants, which are for the purchase or disposal of supplies, services, major repairs, or any other item. See Louisiana Revised Statutes 39:1556
• Contractor: means any person having a contract with a governmental body. See Louisiana Revised Statutes 39:1556
• Control: when used in the context described, means the following:

              (a) When used in reference to a transaction or relationship involving virtual currency, power to execute unilaterally or prevent indefinitely a virtual currency transaction. See Louisiana Revised Statutes 6:1382

• 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.
• Covered agency: means any of the following:

              (a) Any federal, state, or local law enforcement agency. See Louisiana Revised Statutes 6:1372

• Covered financial institution: means any bank, credit union, savings bank, savings and loan association, or trust company operating in Louisiana. See Louisiana Revised Statutes 6:1372
• Credit report: A detailed report of an individual's credit history prepared by a credit bureau and used by a lender in determining a loan applicant's creditworthiness. ^{Source: OCC}
• 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
• Custody services: means the safekeeping or custody of virtual currency or other assets by a financial institution or trust company. See Louisiana Revised Statutes 6:1401
• Department: means the Louisiana Department of Agriculture and Forestry. See Louisiana Revised Statutes 3:1462
• Department: means the Louisiana Department of Health. See Louisiana Revised Statutes 40:1295.2
• Designated responsible party: means a natural person designated by the applicant or licensee as responsible for facility operations of the applicant or licensee facility. See Louisiana Revised Statutes 3:1462
• Dismissal: The dropping of a case by the judge without further consideration or hearing. ^Source:
• Eligible adult: means any of the following:

              (a) Any person sixty years of age or older. See Louisiana Revised Statutes 6:1372

• Exchange: when used as a verb, means to assume control of virtual currency from, or on behalf of, a resident, at least momentarily, to sell, trade, or convert either of the following:

              (a) Virtual currency for legal tender, bank credit, or one or more forms of virtual currency. See Louisiana Revised Statutes 6:1382

• Extradition: The formal process of delivering an accused or convicted person from authorities in one state to authorities in another state.
• Federal Deposit Insurance Corporation: A government corporation that insures the deposits of all national and state banks that are members of the Federal Reserve System. ^{Source: OCC}
• Financial exploitation: means any of the following:

              (a) The wrongful or unauthorized taking, withholding, appropriation, or use of money, assets, beneficial ownership interest, or property of an eligible adult. See Louisiana Revised Statutes 6:1372

• Financial institution: means a federally insured depository institution chartered pursuant to the laws of this state, another state, or the United States. See Louisiana Revised Statutes 6:1401
• Fund: means the Assessors' Retirement Fund. See Louisiana Revised Statutes 11:1402
• Governmental body: means any department, office, division, commission, council, board, bureau, committee, institution, agency, government corporation, or other establishment or official of the executive branch of state government. See Louisiana Revised Statutes 39:1556
• Grower: means any individual, partnership, corporation, cooperative association, or other business entity that is licensed by the department to cultivate industrial hemp. See Louisiana Revised Statutes 3:1462
• Handler: means any individual, partnership, corporation, cooperative association, or other business entity that handles industrial hemp. See Louisiana Revised Statutes 3:1462
• Industrial hemp: means the plant Cannabis sativa L. See Louisiana Revised Statutes 3:1462
• Industrial hemp seed: means Cannabis sativa L. See Louisiana Revised Statutes 3:1462
• Insolvent: means any of the following:

              (a) Having generally ceased to pay debts in the ordinary course of business other than as a result of a bona fide dispute. See Louisiana Revised Statutes 6:1382

• institution-affiliated party: means :

  (1)  A director, officer, employee, agent, or controlling stockholder of a savings bank operating under this Chapter. See Louisiana Revised Statutes 6:1335

• Legal tender: means a medium of exchange or unit of value, including the coin or paper money of the United States, issued by the United States or by another government if the issuance by another government is not virtual currency. See Louisiana Revised Statutes 6:1382
• Legal tender: coins, dollar bills, or other currency issued by a government as official money. ^{Source: U.S. Mint}
• Licensee: means a person licensed pursuant to this Chapter. See Louisiana Revised Statutes 6:1382
• Licensure: means any license that the department is authorized to issue to a grower, seed producer, processor, or handler of industrial hemp. See Louisiana Revised Statutes 3:1462
• Major repairs: means those repairs payable with funds appropriated in the general appropriations act, except those funds transferred from the operating budget of one governmental body to supplement and complete a project under contract by the division of administration facility planning and control section. See Louisiana Revised Statutes 39:1556
• Mining: means the use of any machine or device to solve any series of complex mathematical equations, problems, or puzzles in binary or nonbinary sequences to add a block to any virtual currency network blockchain which is used to do any of the following:

              (a) Validate sales, exchanges, transfers, or ownership of virtual currency. See Louisiana Revised Statutes 6:1382

• Minting: means the use of any machine or device to authenticate data, add any block, or record any information or data on any blockchain by either of the following:

              (a) Through any protocol. See Louisiana Revised Statutes 6:1382

• NMLS: means the multistate system developed by the Conference of State Bank Supervisors and the American Association of Residential Mortgage Regulators and owned and operated by the State Regulatory Registry LLC, or any successor or affiliated entity, for the licensing and registration of persons in financial services industries or any other similar online multistate database. See Louisiana Revised Statutes 6:1382
• Nonconforming payment: means a payment made by a student loan borrower that is more or less than the required payment for a student education loan account. See Louisiana Revised Statutes 6:1411
• Office: means the office of financial institutions. See Louisiana Revised Statutes 6:1382
• Open-end 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 revolving credit.) ^{Source: OCC}
• Person: means an individual, general partnership, limited partnership, limited liability company, corporation, trust, association, joint stock corporation, or other legal entity, or any individual or group of individuals, however organized. See Louisiana Revised Statutes 6:1382
• 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
• Pleadings: Written statements of the parties in a civil case of their positions. In the federal courts, the principal pleadings are the complaint and the answer.
• Process: means converting industrial hemp into a marketable form. See Louisiana Revised Statutes 3:1462
• Processor: means any individual, partnership, corporation, cooperative association, or other business entity that receives industrial hemp for processing into commodities or products. See Louisiana Revised Statutes 3:1462
• Procurement: means the buying, purchasing, renting, leasing, or otherwise obtaining any supplies, services, or major repairs. See Louisiana Revised Statutes 39:1556
• Procurement officer: means any person authorized by a governmental body, in accordance with procedures prescribed by regulations, to enter into and administer contracts and make written determinations and findings with respect thereto. See Louisiana Revised Statutes 39:1556
• Purchasing agency: means any governmental body which is authorized by this Chapter or its implementing regulations, or by way of delegation from the state chief procurement officer, to contract on its own behalf rather than through the central contracting authority of the office of state procurement. See Louisiana Revised Statutes 39:1556
• Regulated financial institution: means a federally insured depository institution and its wholly owned subsidiaries chartered pursuant to the laws of this state, another state, or the United States, a Louisiana state-chartered trust company, a trust company chartered by another state, or a federally chartered trust company. See Louisiana Revised Statutes 6:1382
• Resident: means any of the following:

              (i) A person who is domiciled in this state. See Louisiana Revised Statutes 6:1382

• Responsible individual: means any individual who is ultimately responsible for establishing or directing policies and procedures of the licensee, including but not limited to an executive officer, manager, director, or trustee. See Louisiana Revised Statutes 6:1382
• Restitution: The court-ordered payment of money by the defendant to the victim for damages caused by the criminal action.
• Seed producer: means a person licensed by the department to obtain, produce, transport, and sell industrial hemp seed in the state. See Louisiana Revised Statutes 3:1462
• Self-assessment: means either of the following:

              (a) A financial institution's or trust company's voluntary, self-initiated internal assessment, audit, or review of the financial institution or trust company and its practices, policies, and procedures. See Louisiana Revised Statutes 6:1401

• Services: means the furnishing of labor, time, or effort by a contractor whose primary purpose is to perform an identifiable task rather than to furnish an end item of supply. See Louisiana Revised Statutes 39:1556
• servicing: means :

              (a) Receiving any scheduled periodic payments from a student loan borrower or notification of such payments and applying payments to the student loan borrower's account pursuant to the terms of the student education loan or a governing contract. See Louisiana Revised Statutes 6:1411

• Social service: means work rendered by any person, firm, corporation, organization, governmental body, or governmental entity in furtherance of the general welfare of the citizens of Louisiana, including but not limited to the objectives provided for in La. See Louisiana Revised Statutes 39:1556
• State: means a state of the United States, the District of Columbia, Puerto Rico, the United States Virgin Islands, or any territory or insular possession subject to the jurisdiction of the United States. See Louisiana Revised Statutes 6:1382
• 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
• State plan: means a plan required for approval by the United States Secretary of Agriculture to monitor and regulate the production of industrial hemp. See Louisiana Revised Statutes 3:1462
• store of value: means to maintain control of virtual currency on behalf of a resident by a person other than the resident. See Louisiana Revised Statutes 6:1382
• Student education loan: means any of the following:

              (i) A loan that is made, insured, or guaranteed under Title IV of the Higher Education Act of 1965, as amended. See Louisiana Revised Statutes 6:1411

• Student loan borrower: means a resident of this state who meets either of the following criteria:

              (a) Has received or agreed to pay a student education loan. See Louisiana Revised Statutes 6:1411

• Student loan servicer: means a person or entity who is engaged in the business of servicing a student education loan owed by a student loan borrower. See Louisiana Revised Statutes 6:1411
• Supplies: means all property, including but not limited to equipment, materials, insurance, and leases on immovable property excluding land or a permanent interest in land. See Louisiana Revised Statutes 39:1556
• Surviving spouse: means a person who is legally married to a member of the system and living with the member at the time of his death. See Louisiana Revised Statutes 11:1402
• Tangible net worth: means all business assets minus liabilities and intangible assets, including goodwill and other intangible assets. See Louisiana Revised Statutes 6:1382
• THC: means a combination of tetrahydrocannabinol and tetrahydrocannabinolic acid. See Louisiana Revised Statutes 3:1462
• Transfer: means to assume control of virtual currency from, or on behalf of, a resident and do any of the following:

              (a) Credit the virtual currency to the account of another person. See Louisiana Revised Statutes 6:1382

• Transfer: means a transaction that creates custodial property under La. See Louisiana Revised Statutes 9:751
• transporting: means the movement of industrial hemp from the premises of a licensee to the premises of another licensee or from the premises of a licensee to the premises of a permit holder pursuant to La. See Louisiana Revised Statutes 3:1462
• Trust company: means a corporation or a limited liability trust company organized in accordance with this Title, the laws of another state, or pursuant to the laws of the United States, including a trust company organized pursuant to the laws of this state before June 27, 2003, or an entity chartered to act as a fiduciary that is neither a depository institution nor a foreign bank. See Louisiana Revised Statutes 6:1401
• United States dollar equivalent of virtual currency: means the equivalent value of a particular virtual currency in United States dollars shown on a virtual currency exchange based in the United States for a particular date or period specified in this Chapter. See Louisiana Revised Statutes 6:1382
• Unsafe or unsound act or practice: means and includes but is not limited to a practice or conduct by a person licensed to engage in virtual currency business activity in the state which creates the likelihood of material loss, insolvency, dissipation of the licensee's assets that materially prejudices the interests of residents, and any other set of facts and circumstances, as determined by the commissioner in accordance with this Chapter and applicable law. See Louisiana Revised Statutes 6:1382
• Using agency: means any governmental body of the state which utilizes any supplies, services, or major repairs purchased under this Chapter. See Louisiana Revised Statutes 39:1556
• Verdict: The decision of a petit jury or a judge.
• Virtual currency: means a digital representation of value that is used as a medium of exchange, unit of account, or store of value, and that is not legal tender, whether or not denominated in legal tender. See Louisiana Revised Statutes 6:1382
• Virtual currency administration: means issuing virtual currency with the authority to redeem the currency for legal tender, bank credit, or other virtual currency. See Louisiana Revised Statutes 6:1382
• Virtual currency business activity: means any of the following:

              (a) Exchanging, transferring, or storing virtual currency or engaging in virtual currency administration, whether directly or through an agreement with a virtual currency control services vendor. See Louisiana Revised Statutes 6:1382

• Virtual currency control services vendor: means a person that has control of virtual currency solely under an agreement with a person that, on behalf of another person, assumes control of virtual currency. See Louisiana Revised Statutes 6:1382
• Virtual currency network: means any computer or operator having access to a ledger of exchange, sale, or transfer of one or more virtual currencies. See Louisiana Revised Statutes 6:1382
• Writ: A formal written command, issued from the court, requiring the performance of a specific act.