Section 19.701 - Definitions(a) Words and terms defined in Insurance Code Chapter 4001 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) Commission--Any amount received by a public insurance adjuster for service provided under Insurance Code Chapter 4102, consisting of an hourly fee, a flat rate, a percentage of the total amount paid by the insurer to resolve a claim, or another method of compensation, not to exceed 10 percent of the amount of the insurance settlement on the claim, including expenses, direct costs, or any other costs accrued by the public insurance adjuster.(2) 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.(3) 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.(4) Public Insurance Adjuster--A person licensed under Insurance Code Chapter 4102 or § 19.704 of this subchapter (relating to Public Insurance Adjuster Licensing). A licensed public insurance adjuster may be otherwise referred to as a "license holder" or "licensee" in this subchapter.28 Tex. Admin. Code § 19.701
The provisions of this §19.701 adopted to be effective November 2, 2003, 28 TexReg 9274; amended to be effective January 1, 2014, 38 TexReg 7448