Texas Finance Code

§ 154.352 — ASSESSMENT ON SALES CONTRACTS

FI § 154.352Title 3. FINANCIAL INSTITUTIONS AND BUSINESSES · Part E. OTHER FINANCIAL BUSINESSES · Ch. 154. PREPAID FUNERAL SERVICES · Art. H. GUARANTY FUND

Statute text

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(a)The department shall assess and collect from a seller not more than $1 for each unmatured prepaid funeral benefits contract sold during each calendar year and shall deposit the assessments in the fund.

(b)The department shall stop assessing the amounts required by Subsection (a) when the amount in the fund first reaches $1 million.

Legislative history

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