Tex. Insurance Code § 228.002
This is the official text of Tex. Insurance Code § 228.002, part of Texas’s Insurance Code — regulates insurance companies and the policies they sell.
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§ 228.002. DEFINITION OF AFFILIATE.
Official statutory text
In this chapter, "affiliate" of another person means:
(1) a person that is an affiliate for purposes of Section 823.003;
(2) a person that directly or indirectly:
(A) beneficially owns 10 percent or more of the outstanding voting securities or other voting or management interests of the other person, whether through rights, options, convertible interests, or otherwise; or
(B) controls or holds power to vote 10 percent or more of the outstanding voting securities or other voting or management interests of the other person;
(3) a person 10 percent or more of the outstanding voting securities or other voting or management interests of which are directly or indirectly:
(A) beneficially owned by the other person, whether through rights, options, convertible interests, or otherwise; or
(B) controlled or held with power to vote by the other person;
(4) a partnership in which the other person is a general partner;
(5) an officer, director, employee, or agent of the other person; or
(6) an immediate family member of an officer, director, employee, or agent described by Subdivision (5).
(1) a person that is an affiliate for purposes of Section 823.003;
(2) a person that directly or indirectly:
(A) beneficially owns 10 percent or more of the outstanding voting securities or other voting or management interests of the other person, whether through rights, options, convertible interests, or otherwise; or
(B) controls or holds power to vote 10 percent or more of the outstanding voting securities or other voting or management interests of the other person;
(3) a person 10 percent or more of the outstanding voting securities or other voting or management interests of which are directly or indirectly:
(A) beneficially owned by the other person, whether through rights, options, convertible interests, or otherwise; or
(B) controlled or held with power to vote by the other person;
(4) a partnership in which the other person is a general partner;
(5) an officer, director, employee, or agent of the other person; or
(6) an immediate family member of an officer, director, employee, or agent described by Subdivision (5).
Status: in_force · Read it on the official government site
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