Tex. Finance Code § 154.205
This is the official text of Tex. Finance Code § 154.205, part of Texas’s Finance Code — regulates banks and other financial institutions.
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§ 154.205. CANCELLATION OF INSURANCE-FUNDED CONTRACT.
Official statutory text
(a) A purchaser of an insurance-funded prepaid funeral benefits contract may cancel the contract before maturity by giving written notice of cancellation to the permit holder. The permit holder shall maintain copies of the written notice of cancellation until the third anniversary of the date of receipt of notice.
(b) Cancellation of the contract under Subsection (a) does not automatically cancel the insurance policy funding the prepaid funeral benefits contract. The insurance policy may be canceled in accordance with the terms and conditions of the policy in exchange for the policy's cash surrender value.
(b) Cancellation of the contract under Subsection (a) does not automatically cancel the insurance policy funding the prepaid funeral benefits contract. The insurance policy may be canceled in accordance with the terms and conditions of the policy in exchange for the policy's cash surrender value.
Status: in_force · Read it on the official government site
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