Texas Insurance Code 521.151 – Applicability of Subchapter
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Terms Used In Texas Insurance Code 521.151
- 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.
This subchapter applies to any legal entity engaged in the business of insurance in this state, including:
(1) a capital stock insurance company;
(2) a mutual insurance company;
(3) a title insurance company;
(4) a fraternal benefit society;
(5) a local mutual aid association;
(6) a statewide mutual assessment company;
(7) a county mutual insurance company;
(8) a Lloyd’s plan;
(9) a reciprocal or interinsurance exchange;
(10) a stipulated premium company;
(11) a group hospital service corporation;
(12) a farm mutual insurance company;
(13) a risk retention group;
(14) an eligible surplus lines insurer; and
(15) an agent, broker, or adjuster.