La. Admin. Code tit. 10 § XV-1301
A. The following terms as used in this Chapter shall have the following meaning.
Apprentice- a trainee who works under the direct supervision of a repossession agent.
Approved Association- the National Finance Adjusters, Inc., Allied Finance Adjusters Conference, Inc., Time Adjusters Conference, Inc., the American Recovery Association, Inc., or a Louisiana association of duly licensed repossession agents recognized as a viable association by the commissioner, and who meet any additional qualifications for licensure established by the commissioner.
Change of Control - for purposes of §1305. B means:
a. a change in beneficial ownership of 50 percent or more of the repossession agency's outstanding shares of stock or 50 percent or more of the combined voting power of the repossession agency; provided that any transfer to a person or entity who was a shareholder as of the later of the date the repossession agency was originally licensed or the date of the repossession agency's last approved change of control shall be disregarded;
b. a change in individuals who constitute the voting power of the board of directors, or other governing board of the repossession agency as of the later of the date the repossession agency was originally licensed or the date of the repossession agency's last approved change of control cease to comprise more than 50 percent of the voting power of such board of directors, board of managers, or other board; or
c. a change in the general partner or manager of the repossession agency or a change of control with respect to such general partner or manager; or
d. any merger or consolidation if a change of control has occurred based upon the surviving entity being considered to be a continuation of the repossession agency that was the party to the merger or consolidation transaction.
Collateral- a motor vehicle including any motor driven car, van, or truck required to be registered which is used, or is designated to be used, for the transporting of passengers or goods for public, private, commercial, or for hire purposes; but does not include those vehicles which are commonly known as motor homes, mobile homes, trailers, semi-trailers, boat trailers, or motorcycles.
Combustibles-any substances or articles that are capable of undergoing combustion or catching fire, or that are flammable, if retained.
Commissioner- the Commissioner of Financial Institutions.
Control- solely for purposes of determining whether a repossession agency controls, is controlled by, or is under common control with another person means:
a. the power or authority, whether exercised directly or indirectly, to direct or cause the direction of management and/or policies of a legal entity by contract or otherwise; or
b. to directly or indirectly own of record or beneficially hold with the power to vote, or hold proxies with discretionary authority to vote, 50 percent or more of the then outstanding voting securities issued by a repossession agency, when such control is used with respect to a specified person or legal entity;
c. for all other purposes, control means the power or authority, whether exercised directly or indirectly, to direct or cause the direction of management and/or policies of a repossession agency by contract or otherwise.
Dangerous Drugs-any controlled substances as defined in The Uniform Controlled Dangerous Substances Law, R.S. 40:961, et seq.
Deadly Weapon-any instrument or weapon of the kind commonly known as a blackjack, slingshot, bill, sandclub, sandbag, metal knuckles, dirk, dagger, pistol, or revolver, or any other firearm; any knife having a blade longer than 5 inches; any razor with an unguarded blade; and any metal pipe or bar used or intended to be used as a club.
Individual- a natural person.
Office- the Office of Financial Institutions.
Person- a natural person, corporation, partnership, trust, association, joint venture pool, syndicate, unincorporated organization, limited liability company, or any other form of entity not specifically listed herein.
Personal Effects- movable property not covered by a security agreement, which is contained in or on collateral at the time it is repossessed.
Qualifying Agent- the responsible officer or executive employee of a repossession agency designated as qualifying agent and who meets the requirements of a repossession agent.
Repossession Agency- any person who through a designated repossession agent engages in business or accepts employment to locate or recover collateral registered under the provisions of the Louisiana Vehicle Certificate of Title Law, R.S. 32:701 et seq., which has been sold under a security agreement or used as security in a loan transaction, including any secured party which utilizes its employees to repossess collateral.
Repossession Agent- an individual who physically obtains possession of collateral for a secured party and engages in business or accepts employment to locate or recover collateral registered under the provisions of the Louisiana Vehicle Certificate of Title Law, R.S. 32:701 et seq., which has been sold under a security agreement or used as security in a loan transaction, including a secured party's employee who repossess collateral pursuant to the Additional Default Remedies, Act R.S. 6:965, et seq.
Repossessor- the repossession agency, qualifying agent, or repossession agent.
La. Admin. Code tit. 10, § XV-1301