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Texas Finance Code - FIN § 154.413. Notification of Purchaser

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

Not later than the 30th day after the date prepaid funeral money is seized under Section 154.412, the commissioner may notify each known person who purchased prepaid funeral benefits under a contract from the permit holder whose permit is canceled.  The notice must:

(1) include an explanation of the procedures under this chapter for canceling the contract and claiming money that may be due the person if the person elects to cancel;

(2) inform the person on continuing to make payments under the contract if the person elects to keep the contract in force;  and

(3) inform the person that if the person elects to keep the contract in force the commissioner will transfer:

(A) responsibility to perform the contract to a responsible successor permit holder selected by the commissioner;  or

(B) the seized money to the fund maintained under Section 154.351,subject to the claims process prescribed by rule under Subchapter H  1.

1  V.T.C.A., Finance Code § 154.351 et seq.
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Cite this article: FindLaw.com - Texas Finance Code - FIN § 154.413. Notification of Purchaser - last updated January 01, 2024 | https://codes.findlaw.com/tx/finance-code/fin-sect-154-413/

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