Texas Insurance Code 558.001 – Definition
Terms Used In Texas Insurance Code 558.001
- 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, “insurer” means an insurance company or other entity authorized to engage in the business of insurance in this state. The term includes:
(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 farm mutual insurance company;
(7) a county mutual insurance company;
(8) a Lloyd’s plan;
(9) a reciprocal or insurance exchange;
(10) a fraternal benefit society;
(11) a stipulated premium company;
(12) a nonprofit legal services corporation;
(13) a statewide mutual assessment company;
(14) a local mutual aid association;
(15) a local mutual burial association;
(16) an association exempt under § 887.102;
(17) a nonprofit hospital, medical, or dental service corporation, including a corporation subject to Chapter 842;
(18) a risk retention group;
(19) a purchasing group;
(20) an eligible surplus lines insurer; and
(21) a guaranty association operating under Chapter 462 or 463.