Texas Finance Code

§ 154.252 — RETENTION OF MONEY FOR EXPENSES

FI § 154.252Title 3. FINANCIAL INSTITUTIONS AND BUSINESSES · Part E. OTHER FINANCIAL BUSINESSES · Ch. 154. PREPAID FUNERAL SERVICES · Art. F. TRUST-FUNDED PREPAID FUNERAL BENEFITS

Statute text

View on source

The seller of a trust-funded prepaid funeral benefits contract may retain for the seller's use and benefit an amount not to exceed one-half of all money collected or paid until the seller has received an amount equal to 10 percent of the total amount the purchaser agreed to pay under the contract.

Legislative history

Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997. Amended by Acts 2001, 77th Leg., ch. 699, Sec. 10, eff. Sept. 1, 2001.