Tex.
Ins. Code Section 228.002
Definition of Affiliate
(1)
a person that is an affiliate for purposes of Section 823.003 (Classification as Affiliate or Subsidiary);(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).
Source:
Section 228.002 — Definition of Affiliate, https://statutes.capitol.texas.gov/Docs/IN/htm/IN.228.htm#228.002 (accessed May 26, 2025).
