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Texas Finance Code - FIN § 154.305. Discharge of Contractual Obligations;  Indemnity of Seller

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

(a) The delivery of abandoned money and reporting to the comptroller under Section 154.304:

(1) relieves the seller of the obligations and liabilities under the prepaid funeral benefits contract;

(2) cancels the prepaid funeral benefits contract;  and

(3) discharges the obligations and liabilities of and claims against the seller and funeral provider.

(b) A seller that delivers money to the comptroller under Section 154.304 shall be indemnified under Section 74.304, Property Code, for any claim that may be made with respect to the property.

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Cite this article: FindLaw.com - Texas Finance Code - FIN § 154.305. Discharge of Contractual Obligations;  Indemnity of Seller - last updated January 01, 2024 | https://codes.findlaw.com/tx/finance-code/fin-sect-154-305/

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