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Terms Used In Texas Insurance Code 4053.151

  • 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
  • Rule: includes regulation. See Texas Government Code 311.005

A person, firm, or corporation that violates this chapter or a rule or order adopted under this title, including this chapter, is subject to:
(1) Subchapters B and C, Chapter 4005; and
(2) Chapter 82.