§153. Definitions
As used in this Chapter:
(1) "Administrator" means the state treasurer.
(2) "Apparent owner" means a person whose name appears on the records of a holder
as the person entitled to property held, issued, or owed by the holder.
(3) "Business association" means a corporation, joint stock company, investment
company, partnership, unincorporated association, joint venture, limited liability company,
business trust, trust company, savings and loan association, building and loan association,
savings bank, industrial bank, land bank, safe deposit company, safekeeping depository,
bank, banking organization, financial organization, insurance company, mutual fund, credit
union, utility, or other business entity consisting of one or more persons, whether or not for
profit.
(4) "Domicile" means the state of incorporation of a corporation and the state of the
principal place of business of a holder other than a corporation.
(5) "Fiduciary agent" means a representative of an owner whose services provided
to the owner include locating, delivering, recovering, or assisting in the recovery of property
to the owner, and shall be limited to Louisiana licensed attorneys, certified public
accountants, and financial advisors.
(6) "Holder" means a person obligated to hold for the account of, or deliver or pay
to, the owner of property that is subject to this Chapter.
(7) "Insurance company" means an association, corporation, or fraternal or mutual
benefit organization, whether or not for profit, engaged in the business of providing
insurance including accident, burial, casualty, credit life, contract performance, dental,
fidelity, fire, health, hospitalization, illness, life insurance, life endowments and annuities,
malpractice, marine, mortgage, surety, and wage protection insurance.
(8) "Mineral" means gas, oil, coal, other gaseous liquid and solid hydrocarbons, oil
shale, cement material, sand and gravel, road material, building stone, chemical substance,
gemstone, fissionable and nonfissionable ores, colloidal and other clay, steam and other
geothermal resource, or any other substance defined as a mineral by the law of this state.
(9) "Mineral proceeds" means amounts payable for the extraction, production, or sale
of minerals, or, upon the abandonment of those payments, all payments that become payable
thereafter. The term includes amounts payable for all of the following:
(a) For the acquisition and retention of a mineral lease, including bonuses, royalties,
compensatory royalties, shut-in royalties, minimum royalties, and delay rentals.
(b) For the extraction, production, or sale of minerals, including net revenue
interests, royalties, overriding royalties, extraction payments, and production payments.
(c) Resulting from an agreement or option, including a joint operating agreement,
unit agreement, pooling agreement, and farm-out agreement.
(10) "Money order" includes an express money order and a personal money order,
on which the remitter is the purchaser. The term does not include a bank money order or any
other instrument sold by a banking or financial organization if the seller has obtained the
name and address of the payee.
(11) "Owner" means a person who has a legal or equitable interest in property subject
to this Chapter or the person's legal representative. The term includes a depositor in the case
of a deposit, a beneficiary in the case of a trust other than a deposit in trust, and a creditor,
claimant, or payee in the case of other property.
(12) "Person" means an individual, business association, estate, trust, partnership,
government, governmental subdivision, agency, or instrumentality, public corporation, or any
other legal or commercial entity.
(13) "Property" means a fixed and certain interest in intangible property that is held,
issued, or owed in the course of a holder's business, or by a government or governmental
entity, and all income or increments therefrom. The term includes property that is referred
to as or evidenced by the following:
(a) Money, a check, draft, deposit, interest, or dividend.
(b) Credit balance, customer's overpayment, gift certificate, security deposit, refund,
credit memorandum, unpaid wage, unused ticket, mineral proceeds, or unidentified
remittance.
(c) Stock or other evidence of ownership of an interest in a business association.
(d) A bond, debenture, note, or other evidence of indebtedness.
(e) Money deposited to redeem stocks, bonds, coupons, or other securities or to make
distributions.
(f) An amount due and payable under the terms of an annuity or insurance policy,
including policies providing life insurance, property and casualty insurance, workers'
compensation insurance, or health and disability insurance.
(g) An amount distributable from a trust or custodial fund established under a plan
to provide health, welfare, pension, vacation, severance, retirement, death, stock purchase,
profit sharing, employee savings, supplemental unemployment insurance, or similar benefits.
(h) Any certificate, rebate, coupon, or other instrument issued in connection with a
class action judgment or court-approved settlement of a class action proceeding which
represents a refund on, or reduction of, the purchase price of an item or services purchased
or to be purchased shall not constitute property within the meaning of this statute.
(i) A sports wagering account, as defined in R.S. 27:602.
(14) "Record" means information that is inscribed on a tangible medium or that is
stored in an electronic or other medium and is retrievable in perceivable form.
(15) "State" means a state of the United States, the District of Columbia, the
Commonwealth of Puerto Rico, or any territory or insular possession subject to the
jurisdiction of the United States.
(16) "Utility" means a person who owns or operates for public use any plant,
equipment, real property, franchise, or license for the transmission of communications or the
production, storage, transmission, sale, delivery, or furnishing of electricity, water, steam,
or gas.