Texas Insurance Code 881.001 – Definition
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Terms Used In Texas Insurance Code 881.001
- 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, “statewide mutual assessment company” means a corporation engaged in the statewide business of mutually protecting or insuring members’ lives with money provided by assessments on those members.