Texas Finance Code

§ 154.107 — REQUIRED RENEWAL FOR SELLERS

FI § 154.107Title 3. FINANCIAL INSTITUTIONS AND BUSINESSES · Part E. OTHER FINANCIAL BUSINESSES · Ch. 154. PREPAID FUNERAL SERVICES · Art. C. PERMITS

Statute text

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(a)A seller that has outstanding contracts shall renew the seller's permit until the contracts are fully discharged.

(b)A seller may renew the seller's permit as an unrestricted permit if the seller:

(1)wishes to continue to sell prepaid funeral benefits; and

(2)demonstrates to the commissioner that the seller continues to meet the qualifications and satisfy the requirements that apply to an applicant for a permit.

(c)A seller must renew the seller's permit as a restricted permit if the seller:

(1)cannot demonstrate to the commissioner that the seller continues to meet the qualifications and satisfy the requirements that apply to an applicant for a permit; or

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Legislative history

Acts 2013, 83rd Leg., R.S., Ch. 39 (S.B. 297), Sec. 2, eff. September 1, 2013.