Texas Insurance Code
§ 888.102 — PAYMENT INSTEAD OF MERCHANDISE OR SERVICES
IN § 888.102Title 6. ORGANIZATION OF INSURERS AND RELATED ENTITIES · Part E. MUTUAL AND FRATERNAL COMPANIES AND RELATED ENTITIES · Ch. 888. BURIAL ASSOCIATIONS · Art. C. INSURANCE CERTIFICATES; PAYMENT OF BENEFITS
Statute text
View on source(a)If a burial association that issues an insurance certificate fails or refuses to provide the merchandise or services specified by the certificate, the association shall pay the benefit in cash.
(b)If a burial association that issues an insurance certificate is not given the opportunity to provide the merchandise or services specified by the certificate, instead of the specified merchandise or services, the association shall pay the greater of:
(1)the total amount paid into its mortuary fund to the credit of that certificate's account; or
(2)the percentage of the certificate's face value specified by the certificate.
Legislative history
Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.