Tex. Finance Code § 154.405
This is the official text of Tex. Finance Code § 154.405, part of Texas’s Finance Code — regulates banks and other financial institutions.
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§ 154.405. CRIMINAL PENALTY FOR AGENT'S FAILURE TO DEPOSIT CERTAIN MONEY.
Official statutory text
(a) A designated agent of a seller commits an offense if the agent fails to deposit money collected under a prepaid funeral benefits contract before the 31st day after the date it is received by the agent.
(b) It is an exception to the application of this section that the failure to make a deposit is inadvertent and is corrected before the 11th day after the date the seller discovers the failure.
(c) An offense under this section is punishable as if it were an offense under Section 32.45, Penal Code.
(b) It is an exception to the application of this section that the failure to make a deposit is inadvertent and is corrected before the 11th day after the date the seller discovers the failure.
(c) An offense under this section is punishable as if it were an offense under Section 32.45, Penal Code.
Status: in_force · Read it on the official government site
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