Texas Finance Code - Section 154.002. Definitions
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§ 154.002. DEFINITIONS. In this chapter:
(1) "Commission" means the Finance Commission of
Texas.
(2) "Commissioner" means the banking commissioner of
Texas.
(3) "Department" means the Texas Department of
Banking.
(4) "Earnings" means the amount in an account in
excess of the amount paid by the purchaser of a prepaid funeral
benefits contract that is deposited in the account as provided by
Section 154.253, including accrued interest, accrued income, and
enhanced or increased value.
(5) "Financial institution" has the meaning assigned
by Section 201.101.
(6) "Funeral provider" means the funeral home
designated in a prepaid funeral benefits contract that has agreed
to provide the specified prepaid funeral benefits.
(7) "Insurance policy" means a life insurance policy
or annuity contract.
(8) "Person" means an individual, firm, partnership,
corporation, or association.
(9) "Prepaid funeral benefits" means prearranged or
prepaid funeral or cemetery services or funeral merchandise,
including an alternative container, casket, or outer burial
container. The term does not include a grave, marker, monument,
tombstone, crypt, niche, plot, or lawn crypt unless it is sold in
contemplation of trade for a funeral service or funeral merchandise
to which this chapter applies.
(10) "Seller" means a person selling, accepting money
or premiums for, or soliciting contracts for prepaid funeral
benefits or contracts or insurance policies to fund prepaid funeral
benefits in this state.
(11) "Crypt," "grave," "lawn crypt," "niche," and
"plot" have the meanings assigned by Section 711.001, Health and
Safety Code.
(12) "Funeral merchandise" or "merchandise" means
goods sold or offered for sale on a preneed basis directly to the
public for use in connection with funeral services.
(13) "Funeral service" or "service" means a service
sold or offered for sale on a preneed basis that may be used to:
(A) care for and prepare a deceased human body
for burial, cremation, or other final disposition; and
(B) arrange, supervise, or conduct a funeral
ceremony or the final disposition of a deceased human body.
Acts 1997, 75th Leg., ch. 1008, § 1, eff. Sept. 1, 1997. Amended
by Acts 1999, 76th Leg., ch. 62, § 7.40(a), eff. Sept. 1, 1999;
Acts 1999, 76th Leg., ch. 344, § 2.023, eff. Sept. 1, 1999; Acts
2001, 77th Leg., ch. 867, § 72, eff. Sept. 1, 2001.
Section: 151.706 151.707 151.708 151.709 151.710 151.801 154.001 154.002 154.003 154.004 154.051 154.052 154.053 154.054 154.055
Last modified: August 10, 2007
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