Texas Insurance Code 4001.251 – Incorporation of Sole Proprietorship
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Terms Used In Texas Insurance Code 4001.251
- 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.
An individual engaged in business as a sole proprietorship under a license issued under this title may incorporate. The corporation does not have greater license authority than that granted to the license holder in the holder’s individual capacity.