Tex. Ins. Code §462.004 — what it says, and how the exam tests it

Sec. 462.004. GENERAL DEFINITIONS. In this chapter: (1) "Affiliate" means a person who, directly or indirectly, through one or more intermediaries, controls, is controlled by, or is under common control with an impaired insurer on December 31 of the year preceding the date the insurer becomes an impaired insurer. (2) "Association" means the Texas Property and Casualty Insurance Guaranty Association. (3) "Board" means the board of directors of the association. (4) "Claimant" means an insured making a first-party claim or a person instituting a liability claim. (5) "Impaired insurer" means a member insurer that is subject to a final, nonappealable order of liquidation that includes a finding of insolvency issued by a court of competent jurisdiction in this state or in the insurer's state of domicile. (6) "Member insurer" means an insurer, including a stock insurance company, a mutual insurance company, a Lloyd's plan, a reciprocal or interinsurance exchange, and a county mutual insurance company, that: (A) writes any kind of insurance to which this chapter applies under Sections 462.007 and 462.008, including reciprocal or interinsurance exchange contracts; and (B) holds a certificate of authority to engage in the business of insurance in this state. (7) "Person" means an individual, corporation, partnership, association, or voluntary organization. Added by Acts 2005, 79th Leg., Ch. 727 (H.B. 2017), Sec. 1, eff. April 1, 2007. Amended by: Acts 2019, 86th Leg., R.S., Ch. 343 (S.B. 1063), Sec. 1, eff. September 1, 2019.