Texas Insurance Code 462.205 – Determination of Residence of Entities
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Terms Used In Texas Insurance Code 462.205
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
A corporation or other entity that is not an individual is considered to be a resident of the state in which the entity’s principal place of business is located.