Texas Insurance Code 542.052 – Applicability of Subchapter
Terms Used In Texas Insurance Code 542.052
- 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.
This subchapter applies to any insurer authorized to engage in business as an insurance company or to provide insurance in this state, including:
(1) a stock life, health, or accident insurance company;
(2) a mutual life, health, or accident insurance company;
(3) a stock fire or casualty insurance company;
(4) a mutual fire or casualty insurance company;
(5) a Mexican casualty insurance company;
(6) a Lloyd’s plan;
(7) a reciprocal or interinsurance exchange;
(8) a fraternal benefit society;
(9) a stipulated premium company;
(10) a nonprofit legal services corporation;
(11) a statewide mutual assessment company;
(12) a local mutual aid association;
(13) a local mutual burial association;
(14) an association exempt under § 887.102;
(15) a nonprofit hospital, medical, or dental service corporation, including a corporation subject to Chapter 842;
(16) a county mutual insurance company;
(17) a farm mutual insurance company;
(18) a risk retention group;
(19) a purchasing group;
(20) an eligible surplus lines insurer; and
(21) except as provided by § 542.053(b), a guaranty association operating under Chapter 462 or 463.