28 Tex. Admin. Code § 25.1 - Definitions
The following words and terms, when used in this chapter, shall have the following meanings, unless the context clearly indicates otherwise.
(1) Affiliated--When any
person is connected by commonality of interest or ownership with another
person.
(2) Agent--An individual
licensed by the Texas Department of Insurance pursuant to Insurance Code,
Article 21.07 (licensing of agents), Article 21.14 (local recording agents),
Article 21.07-3 (managing general agents), and Article 1.14-2 (surplus lines
agents).
(3) Annual percentage
rate--That rate computed in accordance with the regulations issued by the
Federal Reserve Board of the United States pursuant to §1606 of the Consumer
Credit Protection Act,
15 United States
Code §1601, et seq.
(4) Department--The Texas Department of
Insurance.
(5) Insurer--A company
or other entity formally liable on an insurance risk.
(6) Licensee--A person holding an insurance
premium finance license.
(7)
Ownership in a corporation--The possession of 10% or more stock in a
corporation.
(8) Person--An
individual, partnership, corporation, joint venture, trust, association, or any
other legal entity, however organized.
(9) Premium finance company--An insurance
premium finance company as defined by the Insurance Code, Article
24.01.
Notes
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