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RULE §15.2Definitions

(a) The definitions in Insurance Code §981.002 and §981.071 apply to this chapter.

(b) The following words and terms, when used in this chapter, have the following meanings, unless the context clearly indicates otherwise:

  (1) Client--Any person to whom a surplus lines agent sells or attempts to sell a surplus lines insurance policy, or from whom an application for surplus lines insurance is accepted, or to whom advice and counsel on a surplus lines insurance policy is given for the purpose of selling a surplus lines insurance policy.

  (2) Commissioner--The Texas Commissioner of Insurance.

  (3) Comptroller--The office of the Texas Comptroller of Public Accounts.

  (4) Person--An individual or entity as defined by Insurance Code §541.002(2).

  (5) Stamping Office--The Surplus Lines Stamping Office of Texas created under Insurance Code Subchapter D, Chapter 981, and operating under a plan of operation as specified by §15.201 of this title. The organization is also commonly referred to as a service office by peer offices throughout the country.

  (6) State--Any state, district, commonwealth, territory, and insular possession of the United States and any area subject to the legislative authority of the United States of America.

  (7) Surplus lines agent--A person, whether an individual or entity, holding a surplus lines license issued by TDI under Insurance Code Chapter 981.

  (8) TDI--Texas Department of Insurance.

  (9) Timely filed--A transaction filed with the stamping office that meets the requirements of Insurance Code §981.105(a).

  (10) Untimely filed--A transaction filed with the stamping office that does not meet the requirements of Insurance Code §981.105(a).

Source Note: The provisions of this §15.2 adopted to be effective December 30, 2018, 43 TexReg 8455

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