Texas Finance Code - Section 154.204. Conversion From Trust-Funded Prepaid Funeral Benefits
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§ 154.204. CONVERSION FROM TRUST-FUNDED PREPAID FUNERAL
BENEFITS. (a) The department must approve a conversion from
trust-funded prepaid funeral benefits to insurance-funded prepaid
funeral benefits as safeguarding the rights and interests of the
individual who purchases the prepaid funeral benefits contract.
(b) Each contract holder shall be notified in writing of:
(1) the terms of the proposed conversion; and
(2) the holder's right to decline the conversion.
(c) An application for approval of a conversion from
trust-funded prepaid funeral benefits to insurance-funded prepaid
funeral benefits must be:
(1) filed with the department on forms prescribed by
the department; and
(2) accompanied by a conversion application fee set by
the department under Section 154.051.
Acts 1997, 75th Leg., ch. 1008, § 1, eff. Sept. 1, 1997.
Section: 154.157 154.158 154.159 154.160 154.201 154.202 154.203 154.204 154.205 154.206 154.207 154.251 154.252 154.253 154.254
Last modified: August 10, 2007
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