Texas § 422.003 DEFINITIONS.

Texas Statutes

§ 422.003 — DEFINITIONS.

Texas § 422.003

Code INInsurance Code

This text of Texas § 422.003 (DEFINITIONS.) is published on Counsel Stack Legal Research, covering Texas primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Tex. Insurance Code Code Ann. § 422.003 (2026).

Text

Sec. 422.003. DEFINITIONS. In this chapter:

(1)"Asset" means any property in which an insurer owns a legal or equitable interest that is reported as an asset in the domestic insurer's statutory financial statements most recently filed with the department.

(2)"Claimant" means an owner, beneficiary, assignee, certificate holder, or third-party beneficiary of an insurance benefit or right arising from the coverage of an insurance policy to which this chapter applies.

(3)"Reserve assets" means the assets of an insurer that are authorized investments for policy reserves under this code.

(4)"Policy reserve liabilities" means the liabilities that an insurer is required under this code to establish for all of the insurer's outstanding insurance policies.

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Sec. 422.003. DEFINITIONS. In this chapter:
(1) "Asset" means any property in which an insurer owns a legal or equitable interest that is reported as an asset in the domestic insurer's statutory financial statements most recently filed with the department.
(2) "Claimant" means an owner, beneficiary, assignee, certificate holder, or third-party beneficiary of an insurance benefit or right arising from the coverage of an insurance policy to which this chapter applies.
(3) "Reserve assets" means the assets of an insurer that are authorized investments for policy reserves under this code.
(4) "Policy reserve liabilities" means the liabilities that an insurer is required under this code to establish for all of the insurer's outstanding insurance policies.

Legislative History

Added by Acts 2005, 79th Leg., Ch. 727 (H.B. 2017 ), Sec. 1, eff. April 1, 2007. Amended by: Acts 2021, 87th Leg., R.S., Ch. 61 (S.B. 1954 ), Sec. 2, eff. September 1, 2021.