Texas Insurance Code Chapter 6003 > Subchapter A – General Provisions
Current as of: 2023 | Check for updates
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§ 6003.001 | Definitions |
§ 6003.002 | Applicability of Chapter |
§ 6003.003 | Effect On Local Regulation |
Terms Used In Texas Insurance Code Chapter 6003 > Subchapter A - General Provisions
- 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.
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
- 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.