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Texas Finance Code - FIN § 154.204. Conversion From Trust-Funded Prepaid Funeral Benefits

Current as of January 01, 2024 | Updated by Findlaw Staff

(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.

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Cite this article: FindLaw.com - Texas Finance Code - FIN § 154.204. Conversion From Trust-Funded Prepaid Funeral Benefits - last updated January 01, 2024 | https://codes.findlaw.com/tx/finance-code/fin-sect-154-204/

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