| (a) Words and terms defined in Insurance Code Article 21.07 §1A shall have the same meaning when used in this subchapter. (b) The following words and terms, when used in this subchapter, shall have the following meanings, unless the context clearly indicates otherwise. (1) Corporation--A legal entity that is organized under the business corporations laws or limited liability company laws of this state, another state, or a territory of the United States. The licensing and regulation of a limited liability company is subject to all provisions of this subchapter that apply to a corporation licensed under this subchapter. (2) Partnership--An association of two or more persons organized under the partnership laws or limited liability partnership laws of this state, another state, or a territory of the United States. The term includes a general partnership, limited partnership, limited liability partnership, and limited liability limited partnership. (3) Public Insurance Adjuster--A person licensed under Insurance Code Article 21.07-5 §§5, 5A, 15 or 15A or §19.704 of this subchapter (relating to Public Insurance Adjuster Licensing). |
