Terms Used In Texas Insurance Code Chapter 843 > Subchapter B - Applicability of and Construction With Other Laws

• Bankruptcy: Refers to statutes and judicial proceedings involving persons or businesses that cannot pay their debts and seek the assistance of the court in getting a fresh start. Under the protection of the bankruptcy court, debtors may discharge their debts, perhaps by paying a portion of each debt. Bankruptcy judges preside over these proceedings.
• 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.
• Statute: A law passed by a legislature.
• United States: includes a department, bureau, or other agency of the United States of America. See Texas Government Code 311.005