Texas Insurance Code 2204.001 – Definitions
Current as of: 2024 | Check for updates
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Terms Used In Texas Insurance Code 2204.001
- 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.
- 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) “Directors” means the board of directors of the exchange.
(2) “Exchange” means the Texas Insurance Exchange.
(3) “Member” means a person, firm, corporation, or underwriting syndicate authorized by the directors to insure or reinsure risks through the exchange.