Texas Finance Code
§ 154.204 — CONVERSION FROM TRUST-FUNDED PREPAID FUNERAL BENEFITS
FI § 154.204Title 3. FINANCIAL INSTITUTIONS AND BUSINESSES · Part E. OTHER FINANCIAL BUSINESSES · Ch. 154. PREPAID FUNERAL SERVICES · Art. E. INSURANCE-FUNDED PREPAID FUNERAL BENEFITS
Statute text
View on source(a)The department must approve a conversion from trust-funded prepaid funeral benefits to insurance-funded prepaid funeral benefits as safeguarding the rights and interests of the individual who purchases the prepaid funeral benefits contract.
(b)Each contract holder shall be notified in writing of:
(1)the terms of the proposed conversion; and
(2)the holder's right to decline the conversion.
(c)An application for approval of a conversion from trust-funded prepaid funeral benefits to insurance-funded prepaid funeral benefits must be:
(1)filed with the department on forms prescribed by the department; and
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Legislative history
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.