SECTION 56.5. Definitions

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The following words and terms, when used in this chapter, shall have the following meanings, unless the context clearly indicates otherwise.
(1) Annuity company--The company from which the carrier is purchasing an annuity for the claimant. The annuity company may be the carrier if the carrier meets the tests provided following for annuity companies (effective 1987).
(2) Structured settlement--Structured compromise settlement agreement.

Source Note: The provisions of this §56.5 adopted to be effective December 21, 1987, 12 TexReg 4529.

                    
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