Tex. Insurance Code § 228.002
DEFINITION OF AFFILIATE
Texas · Texas Insurance Code · Status: effective
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- Citation
- Tex. Insurance Code § 228.002, DEFINITION OF AFFILIATE, Texas, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/677142
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Full 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).