Texas Finance Code

§ 154.207 — RECEIPT OF BENEFITS PAYABLE UNDER POLICY

FI § 154.207Title 3. FINANCIAL INSTITUTIONS AND BUSINESSES · Part E. OTHER FINANCIAL BUSINESSES · Ch. 154. PREPAID FUNERAL SERVICES · Art. E. INSURANCE-FUNDED PREPAID FUNERAL BENEFITS

Statute text

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(a)A seller or funeral provider that has been assigned the benefits payable under an insurance policy funding prepaid funeral benefits may not receive payment of the benefits until:

(1)the beneficiary named in the contract dies;

(2)the funeral service is completed;

(3)the funeral provider has completed the provider's obligations under Section 154.161(a) with respect to the contract; and

(4)the insurance company is presented with:

(A)certification from the funeral provider attesting to matters required by Subdivisions (2) and (3); and

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Legislative history

Acts 2009, 81st Leg., R.S., Ch. 1190 (H.B. 3762), Sec. 20, eff. September 1, 2009.