28 Tex. Admin. Code § 7.701 - Standards Governing Approval of Corporate Names
If, after giving consideration to each of the matters enumerated in paragraphs (1)-(8) of this section, the commissioner determines that the proposed name is so similar to that of any other insurance company as to be likely to mislead the public, he shall disapprove the name; otherwise, he shall approve it.
(1) Mere similarity
is not a ground for disapproval, nor is the mere possibility that the
similarity may mislead the public. Disapproval must be predicated on a finding
that the similarity is likely to mislead the public.
(2) No misleading similarity will be found
because the name contains words which are required by statute.
(3) Certain words are commonly used in
insurance company names to denote strength, stability, geographic region, type
of insurer, or some similar concept. Unless such a word is found to be the key
or predominant identifying portion of the name, its use may be permitted even
though the identical word appears in the name of another insurer.
(4) A coined word, or a word not commonly
used in insurance company names, is generally to be regarded as a predominant
or identifying portion of a name. Therefore, the use of such identical words in
two or more company names will be not permitted unless it is clearly shown that
the likelihood of misleading is eliminated by including other predominant and
distinguishing words in the name or names.
(5) The tendency to mislead is reduced if the
similarly named companies are not authorized to insure the same types of
risk.
(6) The tendency to mislead
is reduced if the similarly named companies are affiliated through stock
ownership or are otherwise under common control and management.
(7) If offered, evidence that the names under
consideration have been concurrently used in other states without having misled
the public will be received and considered.
(8) In cases where trademarks, trade names,
copyrights, slogans or unusual plans, policies, or programs have been so used
as to identify an insurer, the board or commissioner may consider such
trademarks, etc., in conjunction with the official corporate name in
determining whether there is a similarity likely to mislead the
public.
Notes
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