This section provides definitions crucial for understanding terms used in the chapter, particularly regarding affiliates and their ownership stakes in debtors. It clarifies how ownership percentages are determined and who qualifies as an affiliate, impacting various legal and financial relationships.
Defines 'affiliate' in relation to ownership of voting securities.
Specifies exceptions for fiduciaries and secured creditors.
Establishes a 20% ownership threshold for classification.
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In simple terms: Learn about Texas's DEFINITIONS. In this chapter: law, including definitions, penalties, and legal implications.. This means people must follow this rule, and breaking it can lead to criminal penalties.
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