Texas Transportation Code 601.076 – Required Terms: Owner’s Policy
Current as of: 2024 | Check for updates
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Terms Used In Texas Transportation Code 601.076
- Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
- Person: includes corporation, organization, government or governmental subdivision or agency, business trust, estate, trust, partnership, association, and any other legal entity. See Texas Government Code 311.005
- United States: includes a department, bureau, or other agency of the United States of America. See Texas Government Code 311.005
An owner’s motor vehicle liability insurance policy must:
(1) cover each motor vehicle for which coverage is to be granted under the policy; and
(2) pay, on behalf of the named insured or another person who, as insured, uses a covered motor vehicle with the express or implied permission of the named insured, amounts the insured becomes obligated to pay as damages arising out of the ownership, maintenance, or use of the motor vehicle in the United States or Canada, subject to the amounts, excluding interest and costs, and exclusions of § 601.072.