Texas Administrative Code › Title 28 - INSURANCE › Part 1 - TEXAS DEPARTMENT OF INSURANCE › Chapter 22 - PRIVACY › Subchapter A - INSURANCE CONSUMER FINANCIAL INFORMATION PRIVACY › Section 22.2 - Definitions

Current through Reg. 49, No. 28; July 12, 2024
The following words and terms, when used in this chapter,
					 will have the following meanings, unless the context clearly indicates
					 otherwise.
(1) Affiliate--Any company
				  that controls, is controlled by, or is under common control with another
				  company.
(2) Agent--As set out in
				  Insurance Code §§
										2651.002 -
				  2651.011,
				  2651.051 - 2651.059, 4001.002, 4001.051, and 4001.053.
(3) Authorization--As set out in Insurance
				  Code §
										82.001.
(4) Clear and conspicuous--A notice
				  reasonably understandable and designed to call attention to the nature and
				  significance of the information in the notice.
(5) Collect--To obtain information that the
				  covered entity organizes or can retrieve by the name of an individual or by
				  identifying number, symbol, or other identifying particular assigned to the
				  individual, irrespective of the source of the underlying information.
(6) Commissioner--The commissioner of
				  insurance.
(7) Company--A
				  corporation, limited liability company, business trust, general or limited
				  partnership, association, sole proprietorship, or other similar
				  organization.
(8) Consumer--An
				  individual or that individual's representative who seeks to obtain, obtains, or
				  has obtained an insurance product or service from a covered entity that is to
				  be used primarily for personal, family, or household purposes, and about whom
				  the covered entity has nonpublic personal financial information.
(9) Consumer reporting agency--As defined in
				  §603(f) of the federal Fair Credit Reporting Act (FCRA) (15 U.S.C.
				  §1681a(f)).
(10) Control--Includes the terms "controls,"
				  "controlled by," and "under common control," and has the meaning assigned that
				  term by Insurance Code §
										823.005
				  and §
										823.151.
(11) Covered entity--An individual or entity
				  that receives an authorization from the Texas Department of Insurance. The term
				  includes any individual or entity described by Insurance Code, §
										82.002.
(12) Customer--A consumer who has a customer
				  relationship with a covered entity.
(13) Customer relationship--A continuing
				  relationship, as described in §
										22.5
				  of this subchapter (relating to Determination of Continuing Relationship),
				  between a consumer and a covered entity under which the covered entity provides
				  one or more insurance products or services to the consumer to be used primarily
				  for personal, family, or household purposes.
(14) Financial institution--Any institution,
				  the business of which is engaging in activities that are financial in nature or
				  incidental to financial activities as described in §4(k) of the Bank
				  Holding Company Act of 1956 (12 U.S.C.
				  §1843(k)). Financial
				  institution does not include:
(A) any person
				  or entity with respect to any financial activity that is subject to the
				  jurisdiction of the Commodity Futures Trading Commission under the Commodity
				  Exchange Act (7 U.S.C. §1 et seq.);
(B) the Federal Agricultural Mortgage
				  Corporation or any entity charged and operating under the Farm Credit Act of
				  1971 (12 U.S.C. §2001 et seq.); or
(C) institutions chartered by Congress
				  specifically to engage in securitizations, secondary market sales (including
				  sales of servicing rights), or similar transactions related to a transaction of
				  a consumer, as long as the institutions do not sell or transfer nonpublic
				  personal financial information to a nonaffiliated third party.