Texas Occupations Code 1304.002 – Definitions
Terms Used In Texas Occupations Code 1304.002
- 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.
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
- Person: includes corporation, organization, government or governmental subdivision or agency, business trust, estate, trust, partnership, association, and any other legal entity. See Texas Government Code 311.005
- Personal property: All property that is not real property.
In this chapter:
(1) “Administrator” means a person, other than the provider of the service contract or an employee of the provider, who is responsible for the third-party administration of a service contract.
(2) “Commission” means the Texas Commission of Licensing and Regulation.
(3) Repealed by Acts 2003, 78th Leg., ch. 816, Sec. 13.010(1); Acts 2003, 78th Leg., ch. 1276, Sec. 14A.337(a).
(4) “Consumer” means an individual who, for a purpose other than resale, buys tangible personal property that is:
(A) distributed in commerce; and
(B) normally used for personal, family, or household purposes and not for business or research purposes.
(5) “Department” means the Texas Department of Licensing and Regulation.
(5-a) “Executive director” means the executive director of the department.
(6) “Person” means an individual or an association, company, corporation, partnership, or other group.
(7) “Provider” means a person who is contractually obligated to a service contract holder under the terms of a service contract.
(8) “Reimbursement insurance policy” means a policy of insurance issued to a provider to:
(A) reimburse the provider under a service contract the provider issued or sold; or
(B) pay on behalf of the provider all covered contractual obligations that are incurred by the provider under a service contract the provider issued or sold and that the provider does not perform.
(8-a) “Seller” means a person, other than the provider or administrator of a service contract, who markets, sells, offers to sell, negotiates, or issues a service contract to a consumer on behalf of a provider, but who is not contractually obligated to a service contract holder under the terms of a service contract.
(9) “Service contract holder” means a person who purchases or otherwise holds a service contract.