Final answer:
If an insurance company is organized under the laws of New Jersey and licensed to do business here, it is considered a foreign company in Texas.
Step-by-step explanation:
If an insurance company is organized under the laws of New Jersey and licensed to do business here, it is considered a foreign company in Texas. A foreign company refers to a business entity that is incorporated or based in one state but operates in or sells products/services in another state. In this case, the insurance company is incorporated in New Jersey but it is licensed to do business in Texas, making it a foreign company in Texas.
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