Texas Insurance Code 842.101 – Issuance of Certificate of Authority
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(a) The department shall issue to a group hospital service corporation a certificate of authority that authorizes the corporation to engage in the business of a group hospital service corporation if the corporation:
(1) files a statement acceptable to the department showing solvency; and
(2) complies with this chapter.
(b) The department shall charge the fee prescribed by law for the issuance of the certificate of authority.
Terms Used In Texas Insurance Code 842.101
- 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.