§ 229.001 — DEFINITIONS.

Texas § 229.001

• Jurisdiction: Texas
• Code IN: Insurance Code

Text

Sec. 229.001. DEFINITIONS. In this chapter:
(1) "Agent" includes:
(A) a surplus lines agent, as defined by Section 981.002 ;
(B) a person licensed as a surplus lines agent by another state; and
(C) any other person who performs the acts of an agent, whether through an oral, written, electronic, or other form of communication, by soliciting, negotiating, procuring, or collecting a premium on an insurance contract.
(2) "Insurer" has the meaning assigned by Section 101.002 and includes:
(A) an insurer that does not hold a certificate of authority in this state;
(B) an eligible surplus lines insurer; and
(C) an insurer that holds a certificate of authority in this state but performs acts outside the scope of its authority under the certificate.
(3) "Premium" includes:
(A) any consideration for insurance, including:
(i) a premium;
(ii) a membership fee;
(iii) an assessment; and
(iv) dues; or
(B) any other meaning of the term adopted in a cooperative agreement.
(4) "Processing entity" means a processing center or clearinghouse established under a cooperative agreement.
(5) "Stamping office" means the Surplus Lines Stamping Office of Texas or similar stamping offices in other states.

Legislative History

Added by Acts 2007, 80th Leg., R.S., Ch. 932 (H.B. 3315 ), Sec. 11, eff. June 15, 2007. Renumbered from Insurance Code, Section 228.001 by Acts 2009, 81st Leg., R.S., Ch. 87 (S.B. 1969 ), Sec. 27.001(60), eff. September 1, 2009.