§ 541.001 Purpose
§ 541.002 Definitions
§ 541.003 Unfair Methods of Competition and Unfair or Deceptive Acts or Practices Prohibited
§ 541.004 Venue for Actions Involving Department or Commissioner
§ 541.005 Applicability to Risk Retention or Purchasing Group
§ 541.006 Prohibited Content of Certain Insurance Policies
§ 541.007 Immunity From Prosecution
§ 541.008 Liberal Construction

Terms Used In Texas Insurance Code Chapter 541 > Subchapter A

  • 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.
  • Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
  • Deed: The legal instrument used to transfer title in real property from one person to another.
  • Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
  • Federal Deposit Insurance Corporation: A government corporation that insures the deposits of all national and state banks that are members of the Federal Reserve System. Source: OCC
  • Grand jury: agreement providing that a lender will delay exercising its rights (in the case of a mortgage,
  • Justice: when applied to a magistrate, means justice of the peace. See Texas Government Code 312.011
  • Lien: A claim against real or personal property in satisfaction of a debt.
  • Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
  • Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
  • 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.
  • 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
  • Property: means real and personal property. See Texas Government Code 311.005
  • Testify: Answer questions in court.
  • Testimony: Evidence presented orally by witnesses during trials or before grand juries.
  • Year: means 12 consecutive months. See Texas Government Code 311.005