Sec. 805.001. DEFINITIONS. In this subchapter:
(1) "Major shareholder" means an individual, corporation, partnership, association, joint-stock company, business trust, or unincorporated organization that is directly or indirectly the beneficial owner of more than 10 percent of any class of an equity security of an insurer.
(2) "Subsidiary" means a corporation:
(A) of which at least 50 percent of any class of an equity security is owned by an insurer; or
(B) that is managed, directly or indirectly controlled, or subject to control by an insurer.
Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.
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