The following words and terms, as used in this chapter and Texas Occupations Code, Chapter 1306, have the following meanings:

1. (1) "Qualified financial institution" means a financial institution organized and licensed under the laws of the United States, a state of the United States, or the District of Columbia.

2. (2) "Third-party administration of an identity recovery service contract" includes any of the following activities performed on behalf of an identity recovery service contract provider:

   1. (A) performing or arranging the collection, maintenance, or disbursement of money to compensate any party for claims or repairs pursuant to an identity recovery service contract;
   2. (B) participating in the processing or adjustment of claims arising under an identity recovery service contract;
   3. (C) maintaining records required by Texas Occupations Code, Chapter 1306; or
   4. (D) complying with provider requirements, other than financial security requirements, of Texas Occupations Code, Chapter 1306.

Source Note:The provisions of this §90.10 adopted to be effective November 16, 2009, 34 TexReg 7799; amended to be effective March 1, 2012, 37 TexReg 1322.