Texas Insurance Code - Section 424.101. Definitions
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§ 424.101. DEFINITIONS. In this subchapter:
(1) "Business entity" means an association,
corporation, joint stock company, joint venture, limited liability
company, mutual fund trust, partnership, or other similar form of
business organization, regardless of whether organized for profit.
(2) "Obligation" means:
(A) a bond, note, debenture, trust certificate,
including an equipment certificate, or production payment;
(B) a negotiable bank certificate of deposit,
bankers' acceptance, credit tenant loan, or other loan secured by
financing net leases; or
(C) any other evidence of indebtedness for the
payment of money or participation certificates or other evidences
of an interest in an obligation otherwise described by this
subdivision, whether constituting a general obligation of the
issuer or payable only out of certain revenues or certain funds
pledged or otherwise dedicated for payment.
(3) "Qualified bank" means a national bank, state
bank, or trust company that:
(A) is at all times adequately capitalized as
determined by the standards adopted by the United States banking
regulators; and
(B) is either a member of the Federal Reserve
System or regulated by state banking laws.
(4) "Repurchase transaction," "reverse repurchase
transaction," and "securities lending transaction" have the
meanings assigned by Section 424.151.
Added by Acts 2005, 79th Leg., ch. 727, § 1, eff. April 1, 2007.
Section: 424.068 424.069 424.070 424.071 424.072 424.073 424.074 424.101 424.102 424.103 424.104 424.105 424.106 424.107 424.108
Last modified: August 11, 2007
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