Texas Insurance Code 843.005 – Use of Insurance-Related Terms by Health Maintenance Organization
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Terms Used In Texas Insurance Code 843.005
- 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.
A health maintenance organization that is not authorized as an insurer may not use in its name, contracts, or literature the word “insurance,” “casualty,” “surety,” or “mutual,” or any other words that are:
(1) descriptive of the insurance, casualty, or surety business; or
(2) deceptively similar to the name or description of an insurer or surety corporation engaging in business in this state.