Texas Insurance Code 801.001 – Definitions
Terms Used In Texas Insurance Code 801.001
- 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.
In this chapter:
(1) “Control” has the meaning described by Section 823. 005.
(2) “Insurer” means the issuer of an insurance policy that is issued to another in consideration of a premium and that insures against a loss that may be insured against under the law. The term includes a:
(A) fraternal benefit society;
(B) Lloyd’s plan;
(C) mutual company of any kind, including a:
(i) statewide mutual assessment association;
(ii) local mutual aid association or burial association; and
(iii) county or farm mutual insurance company;
(D) reciprocal or interinsurance exchange;
(E) group hospital service corporation;
(F) health maintenance organization;
(G) nonprofit legal services corporation; and
(H) stock company.
(3) “Person” has the meaning assigned by Section 823.002.