Tex. Finance Code § 154.262
This is the official text of Tex. Finance Code § 154.262, part of Texas’s Finance Code — regulates banks and other financial institutions.
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§ 154.262. WITHDRAWAL OF MONEY ON DEATH OF BENEFICIARY.
Official statutory text
(a) The seller of a trust-funded prepaid funeral benefits contract may withdraw an amount equal to the original contract amount paid by the purchaser and the earnings attributable to the contract, less the amount retained under Section 154.252, after:
(1) the beneficiary named in the contract dies;
(2) the funeral service is completed;
(3) the funeral provider has completed the provider's obligations under Section 154.161(a) with respect to the contract; and
(4) the depository is presented with:
(A) appropriate affidavits by an officer or agent of the seller on forms prescribed by the department, attesting to matters required by Subdivisions (2) and (3); and
(B) a certified copy of the death certificate.
(b) The seller shall maintain copies of the affidavits and death certificate for examination by the department.
(1) the beneficiary named in the contract dies;
(2) the funeral service is completed;
(3) the funeral provider has completed the provider's obligations under Section 154.161(a) with respect to the contract; and
(4) the depository is presented with:
(A) appropriate affidavits by an officer or agent of the seller on forms prescribed by the department, attesting to matters required by Subdivisions (2) and (3); and
(B) a certified copy of the death certificate.
(b) The seller shall maintain copies of the affidavits and death certificate for examination by the department.
Status: in_force · Read it on the official government site
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