The following words and terms, when used in this subchapter, shall have the following meanings, unless the context clearly indicates otherwise. (1) Agency--Commissioner of insurance and all divisions, departments, and employees of the commissioner of insurance or of the State Board of Insurance. (2) Insurer--Any person, organization, association, or company (authorized or unauthorized, admitted or nonadmitted) acting as an insurer, or as principal or agent of an insurer, including stock companies, reciprocals or interinsurance exchanges, Lloyds associations, fraternal benefit societies, stipulated premium companies, title insurance companies, and mutual companies of all kinds, including statewide mutual assessment corporations, local mutual aid associations, burial associations, county mutual insurance companies, and farm mutual insurance companies. (3) Surplus--The remainder of statutorily admitted assets less
statutorily required liabilities. The term also includes mortuary fund and expense fund combined of statewide mutual assessment companies, burial associations, and mutual aid associations.
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