Texas Insurance Code 803.002 – Applicability of Chapter
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Terms Used In Texas Insurance Code 803.002
- 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 chapter applies only to a domestic company that is:
(1) an affiliate of an insurance holding company system and in compliance with Chapter 823;
(2) a nonprofit legal services corporation the claims and daily affairs of which are handled under contract by a foreign insurer that holds a certificate of authority to engage in a similar business in this state; or
(3) a health maintenance organization that is affiliated with another health maintenance organization or a health care provider.