Terms Used In Texas Insurance Code 1305.055

  • 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 network is not an insurer and may not use in the network’s name or informational literature the word “insurance,” “casualty,” “surety,” or “mutual” or any other word that is:
(1) descriptive of the insurance, casualty, or surety business; or
(2) deceptively similar to the name or description of an insurer or surety corporation engaging in the business of insurance in this state.