Texas Insurance Code 35.001 – Definitions
Terms Used In Texas Insurance Code 35.001
- Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year.
- 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.
- in writing: includes any representation of words, letters, or figures, whether by writing, printing, or other means. See Texas Government Code 312.011
- 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) “Conduct business” includes engaging in or transacting any business in which a regulated entity is authorized to engage or is authorized to transact under the law of this state.
(2) “Regulated entity” means each insurer, organization, person, or program regulated by the department, including:
(A) a domestic or foreign, stock or mutual, life, health, or accident insurance company;
(B) a domestic or foreign, stock or mutual, fire or casualty insurance company;
(C) a Mexican casualty company;
(D) a domestic or foreign Lloyd’s plan;
(E) a domestic or foreign reciprocal or interinsurance exchange;
(F) a domestic or foreign fraternal benefit society;
(G) a domestic or foreign title insurance company;
(H) a stipulated premium company;
(I) a nonprofit legal service corporation;
(J) a health maintenance organization;
(K) a statewide mutual assessment company;
(L) a local mutual aid association;
(M) a local mutual burial association;
(N) an association exempt under § 887.102;
(O) a nonprofit hospital, medical, or dental service corporation, including a company subject to Chapter 842;
(P) a county mutual insurance company;
(Q) a farm mutual insurance company; and
(R) an agency or agent of an insurer, organization, person, or program described by this subdivision.
(3) “Deliver by electronic means” means:
(A) deliver to an e-mail address at which a party has consented to receive notices, documents, or information; or
(B) post on an electronic network or Internet website accessible by an electronic device, including a computer, mobile device, or tablet, and deliver notice of the posting to an e-mail address at which the party has consented to receive notices.
(4) “Party” means a recipient, including an applicant, insured, policyholder, enrollee, or annuity contract holder, of a notice or document or of information required as part of an insurance transaction.
(4-a) “Plan sponsor” means a person, other than a regulated entity, who establishes, adopts, or maintains a health benefit plan, including a vision or dental benefit plan, that covers residents of this state, including a plan established, adopted, or maintained by an employer or jointly by an employer and one or more employee organizations, an association, a committee, a joint board of trustees, or any similar group of representatives who establish, adopt, or maintain a plan.
(5) “Written communication” means a notice or document or other information provided in writing.