The following words and terms, as used in this chapter and Texas Labor Code, Chapter 91, have the following meanings, unless the context clearly indicates otherwise.

1. (1) Department--Texas Department of Licensing and Regulation.
2. (2) Net worth--The applicant's assets minus the applicant's liabilities, as shown on the applicant's financial statement or most recent federal tax return, plus the sum of any guarantees, letters of credit, or securities that may be submitted to the department.
3. (3) Person--Any individual, partnership, corporation, or any other business entity.
4. (4) The Code--The Texas Labor Code, Chapter 91.

Source Note:The provisions of this §72.10 adopted to be effective November 19, 1993, 18 TexReg 8197; amended to be effective April 15, 1998, 23 TexReg 3678; amended to be effective April 1, 2004, 29 TexReg 3173; amended to be effective January 1, 2010, 34 TexReg 9430.