Texas Insurance Code - Section 422.003. Definitions
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§ 422.003. DEFINITIONS. In this chapter:
(1) "Asset" means any property in which an insurer
owns a legal or equitable interest.
(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) "Reserve liabilities" means the liabilities that
an insurer is required under this code to establish for all of the
insurer's outstanding insurance policies.
Added by Acts 2005, 79th Leg., ch. 727, § 1, eff. April 1, 2007.
Section: 404.051 404.052 404.053 421.001 421.002 422.001 422.002 422.003 422.004 422.005 422.006 422.051 422.052 422.053 422.054
Last modified: August 11, 2007
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