Texas Agriculture Code - AGRIC § 41.201. Definitions

(1) “Board” means the Texas Grain Producer Indemnity Board.

(2) “Claim initiation date” means the earliest date on which a grain buyer:

(3) “Financial failure” means an event described by Subdivision (2)(A), (B), (C), (D), or (E).

(3-a) “Fund” means the grain producer indemnity fund.

(4) “Grain” means corn, soybeans, wheat, and grain sorghum.

(5) “Grain buyer” means a person who buys grain from a grain producer or stores unsold grain for a grain producer. The term includes:

(6) “Grain producer” means a person, including the owner of a farm on which grain is produced, or the owner's tenant or sharecropper, engaged in the business of producing grain or causing grain to be produced for commercial purposes.

(7) [Blank].

(8) “Reinsurance” means an insurance product purchased by the board to reduce the financial risk and capital balance associated with the function of the board.