Texas Insurance Code 1251.002 – Certain Group Health Insurance Authorized
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Terms Used In Texas Insurance Code 1251.002
- 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.
A group policy of accident, health, or accident and health insurance, including a group contract issued by a group hospital service corporation, may be delivered or issued for delivery in this state only if the policy:
(1) covers a group described by Subchapter B; and
(2) meets the requirements adopted under this chapter for a group policy.