Texas Insurance Code

§ 228.002 — DEFINITION OF AFFILIATE

IN § 228.002Title 3. DEPARTMENT FUNDS, FEES, SURCHARGES, AND TAXES · Part B. INSURANCE PREMIUM TAXES · Ch. 228. PREMIUM TAX CREDIT FOR CERTAIN INVESTMENTS · Art. A. GENERAL PROVISIONS

Statute text

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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:

…

Legislative history

Added by Acts 2007, 80th Leg., R.S., Ch. 730 (H.B. 2636), Sec. 1B.001, eff. April 1, 2009.