Texas Labor Code 407.001 – Definitions
Terms Used In Texas Labor Code 407.001
- 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.
- Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
- 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
In this chapter:
(1) “Association” means the Texas Certified Self-Insurer Guaranty Association.
(2) Repealed by Acts 2005, 79th Leg., Ch. 265, Sec. 7.01(17), eff. September 1, 2005.
(3) “Impaired employer” means a certified self-insurer:
(A) who has suspended payment of compensation as determined by the division;
(B) who has filed for relief under bankruptcy laws;
(C) against whom bankruptcy proceedings have been filed; or
(D) for whom a receiver has been appointed by a court of this state.
(4) “Incurred liabilities for compensation” means the amount equal to the sum of:
(A) the estimated amount of the liabilities for outstanding workers’ compensation claims, including claims incurred but not yet reported; and
(B) the estimated amount necessary to provide for the administration of those claims, including legal costs.
(5) “Qualified claims servicing contractor” means a person who provides claims service for a certified self-insurer, who is a separate business entity from the affected certified self-insurer, and who holds a certificate of authority under Chapter 4151.