Texas Insurance Code 544.452 – Applicability of Subchapter
Terms Used In Texas Insurance Code 544.452
- Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year.
- Contract: A legal written agreement that becomes binding when signed.
- 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 entity that offers a health benefit plan or an annuity or life insurance policy or contract in this state, including:
(1) a stock or mutual life, health, or accident insurance company;
(2) a group hospital service corporation operating under Chapter 842;
(3) a fraternal benefit society operating under Chapter 885;
(4) a stipulated premium insurance company operating under Chapter 884;
(5) a Lloyd’s plan operating under Chapter 941;
(6) an exchange operating under Chapter 942;
(7) a health maintenance organization operating under Chapter 843;
(8) a multiple employer welfare arrangement that holds a certificate of authority under Chapter 846;
(9) an approved nonprofit health corporation that holds a certificate of authority under Chapter 844;
(10) a statewide mutual assessment company operating under Chapter 881;
(11) a local mutual aid association operating under Chapter 886; and
(12) a local mutual burial association operating under Chapter 888.