Texas Insurance Code 888.001 – Definitions
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Terms Used In Texas Insurance Code 888.001
- 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.
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
In this chapter:
(1) “Burial association” means an individual, firm, partnership, association, or corporation engaged in the business of providing burial or funeral benefits payable partly or wholly in merchandise or services, not to exceed $150 or the value thereof. The term includes a burial company and a burial society.
(2) “Insurance certificate” and “member” have the meanings assigned by Section 887.001.