Texas Finance Code

§ 154.306 — LIABILITY AND OBLIGATIONS OF COMPTROLLER

FI § 154.306Title 3. FINANCIAL INSTITUTIONS AND BUSINESSES · Part E. OTHER FINANCIAL BUSINESSES · Ch. 154. PREPAID FUNERAL SERVICES · Art. G. ABANDONED CONTRACTS

Statute text

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(a)The comptroller is liable to the purchaser or beneficiary of a prepaid funeral benefits contract presumed abandoned under this subchapter only to the extent of money that is attributable to the contract and delivered to the comptroller.

(b)The comptroller is not obligated to perform the seller's duties under an abandoned prepaid funeral benefits contract.

Legislative history

Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.