Tex. Finance Code § 154.204
This is the official text of Tex. Finance Code § 154.204, part of Texas’s Finance Code — regulates banks and other financial institutions.
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§ 154.204. CONVERSION FROM TRUST-FUNDED PREPAID FUNERAL BENEFITS.
Official statutory text
(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.
(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.
Status: in_force · Read it on the official government site
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