Texas § OC.2303.002 - DEFINITIONS

§ OC.2303.002. DEFINITIONS

DEFINITIONS. In this chapter: (1) "Abandoned nuisance vehicle" means a motor vehicle that is: (A) at least 10 years old; and (B) of a condition only to be demolished, wrecked, or dismantled. (2) "Commission" means the Texas Commission of Licensing and Regulation. (3) "Department" means the Texas Department of Licensing and Regulation. (4) "Executive director" means the executive director of the department. (5) "Owner of a vehicle" means a person: (A) named as the purchaser or transferee in the certificate of title issued for the vehicle under Chapter 501 , Transportation Code; (B) in whose name the vehicle is registered under Chapter 502 , Transportation Code, or a member of the person's immediate family; (C) who holds the vehicle through a lease agreement; (D) who is an unrecorded lienholder entitled to possess the vehicle under the terms of a chattel mortgage; or (E) who is a lienholder, holds an affidavit of repossession, and is entitled to repossess the vehicle. (6) "Principal" means an individual who: (A) personally or constructively holds, including as the beneficiary of a trust: (i) at least 10 percent of a corporation's outstanding stock; or (ii) more than $25,000 of the fair market value of a business entity; (B) has the controlling interest in a business entity; (C) has a direct or indirect participating interest through shares, stock, or otherwise, regardless of whether voting rights are included, of more than 10 percent of the profits, proceeds, or capital gains of a business entity; (D) is a member of the board of directors or other governing body of a business entity; or (E) serves as an elected officer of a business entity. (7) "Vehicle" means: (A) a motor vehicle for which the issuance of a certificate of title is required under Chapter 501 , Transportation Code; or (B) any other device designed to be self-propelled or transported on a public highway. (8) "Vehicle storage facility" means a garage, parking lot, or other facility that is: (A) owned by a person other than a governmental entity; and (B) used to store or park at least 10 vehicles each year. Added by Acts 2001, 77th Leg., ch. 1421, Sec. 5, eff. June 1, 2003. Amended by Acts 2003, 78th Leg., ch. 1276, Sec. 14A.626(a), eff. Sept. 1, 2003. Amended by: Acts 2007, 80th Leg., R.S., Ch. 1046 (H.B. 2094 ), Sec. 1.01, eff. September 1, 2007.