SECTION 13.451. Definitions

The following words and terms, for purposes of this division, have the following meanings unless the context clearly indicates otherwise.

(1) Control--The possession, direct or indirect, of the power to direct or cause the direction of the management and policies of an individual or entity, whether through the ownership of voting securities, by contract other than a commercial contract for goods or nonmanagement services, or otherwise, unless the power is the result of an official position with or corporation office held by an individual.

(2) Voting security--Any security presently entitling its owner or holder to vote in the direction or management of the affairs of an individual or entity, or any instrument presently convertible by its owner or holder into a voting security, or the right to acquire a voting security.

Source Note: The provisions of this §13.451 adopted to be effective March 31, 2013, 38 TexReg 2100