reglab/housing_qa huggingface dataset:
TX Fin Code § 154.002 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle E - Other Financial Businesses|Chapter 154 - Prepaid Funeral Services|Subchapter A. General Provisions|Section 154.002. Definitions

Sec. 154.002.  DEFINITIONS.  In this chapter:(1)  "Cash advance item" has the meaning assigned by  16 C.F.R. Section 453.1.(1-a)  "Commission" means the Finance Commission of Texas.(2)  "Commissioner" means the banking commissioner of Texas.(3)  "Department" means the Texas Department of Banking.(4)  "Earnings" means the amount in an account in excess of the amount paid by the purchaser of a prepaid funeral benefits contract that is deposited in the account as provided by Section 154.253, including accrued interest, accrued income, and enhanced or increased value.(5)  "Financial institution" has the meaning assigned by Section 201.101.(6)  "Funeral provider" means the person designated in a prepaid funeral benefits contract that has agreed to provide the specified prepaid funeral benefits.(6-a)  "Insurance-funded contract" means an insurance-funded prepaid funeral benefits contract.(7)  "Insurance policy" means a life insurance policy or annuity contract.(8)  "Person" means an individual, firm, partnership, corporation, or association.(9)  "Prepaid funeral benefits" means prearranged or prepaid funeral or cemetery services or funeral merchandise, including an alternative container, casket, or outer burial container.  The term does not include a grave, marker, monument, tombstone, crypt, niche, plot, or lawn crypt unless it is sold in contemplation of trade for a funeral service or funeral merchandise to which this chapter applies.(10)  "Seller" means a person selling, accepting money or premiums for, or soliciting contracts for prepaid funeral benefits or contracts or insurance policies to fund prepaid funeral benefits in this state.(11)  "Crypt," "grave," "lawn crypt," "niche," and "plot" have the meanings assigned by Section 711.001, Health and Safety Code.(12)  "Funeral merchandise" or "merchandise" means goods sold or offered for sale on a preneed basis directly to the public for use in connection with funeral services.(13)  "Funeral service" or "service" means a service sold or offered for sale on a preneed basis that may be used to:(A)  care for and prepare a deceased human body for burial, cremation, or other final disposition;  and(B)  arrange, supervise, or conduct a funeral ceremony or the final disposition of a deceased human body.(14)  "Trust-funded contract" means a trust-funded prepaid funeral benefits contract.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.  Amended by Acts 1999, 76th Leg., ch. 62, Sec. 7.40(a), eff. Sept. 1, 1999;  Acts 1999, 76th Leg., ch. 344, Sec. 2.023, eff. Sept. 1, 1999;  Acts 2001, 77th Leg., ch. 867, Sec. 72, eff. Sept. 1, 2001.Amended by: Acts 2009, 81st Leg., R.S., Ch. 1190 (H.B. 3762), Sec. 1, eff. September 1, 2009.|
TX Fin Code § 154.003 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle E - Other Financial Businesses|Chapter 154 - Prepaid Funeral Services|Subchapter A. General Provisions|Section 154.003. Effect on Insurance Laws

Sec. 154.003.  EFFECT ON INSURANCE LAWS.  Except as provided by Section 154.004, this chapter does not affect the Insurance Code.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 154.004 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle E - Other Financial Businesses|Chapter 154 - Prepaid Funeral Services|Subchapter A. General Provisions|Section 154.004. Group Insurance Contracts

Sec. 154.004.  GROUP INSURANCE CONTRACTS.  (a)  A life insurance company authorized to engage in the business of life insurance in this state may issue a group contract of decreasing term life insurance to persons who purchase prepaid funeral benefits from the same seller.  The amount of life insurance for a purchaser must at all times approximate the future unpaid balance of the purchaser's contract for prepaid funeral benefits.(b)  A seller has an insurable interest in the life of the purchaser of a prepaid funeral benefits contract to the extent of any unpaid balance of the contract.  The proceeds of a life insurance policy received by the seller on the life of the purchaser shall be applied to the unpaid balance.(c)  This section does not affect the funding of prepaid funeral benefits by other insurance contracts as provided by Subchapter E.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 154.051 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle E - Other Financial Businesses|Chapter 154 - Prepaid Funeral Services|Subchapter B. Powers and Duties of Department|Section 154.051. Administration of Chapter; Fees

Sec. 154.051.  ADMINISTRATION OF CHAPTER;  FEES.  (a)  The department shall administer this chapter.(b)  The commission may adopt reasonable rules concerning:(1)  fees to defray the cost of administering this chapter;(2)  the keeping and inspection of records relating to the sale of prepaid funeral benefits;(3)  the filing of contracts and reports;(4)  changes in the management or control of an organization;  and(5)  any other matter relating to the enforcement and administration of this chapter.(c)  The department may not maintain unnecessary fund balances.  Fee amounts must be set in accordance with this requirement.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.  Amended by Acts 2001, 77th Leg., ch. 867, Sec. 73, eff. Sept. 1, 2001.|
TX Fin Code § 154.052 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle E - Other Financial Businesses|Chapter 154 - Prepaid Funeral Services|Subchapter B. Powers and Duties of Department|Section 154.052. Annual Report

Sec. 154.052.  ANNUAL REPORT.  (a)  The department may require a permit holder that has outstanding contracts for prepaid funeral benefits to submit an annual report in the form required by rule of the commission.(b)  The department shall require a seller that discontinues the sale of prepaid funeral benefits but has outstanding contracts to submit an annual report until the contracts are fully discharged.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.Amended by: Acts 2009, 81st Leg., R.S., Ch. 1190 (H.B. 3762), Sec. 2, eff. June 1, 2010.|
TX Fin Code § 154.053 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle E - Other Financial Businesses|Chapter 154 - Prepaid Funeral Services|Subchapter B. Powers and Duties of Department|Section 154.053. Records; Examination

Sec. 154.053.  RECORDS;  EXAMINATION.  (a)  A permit holder that has outstanding contracts for prepaid funeral benefits shall maintain records as required by rule of the commission.(b)  The department shall examine the records of each permit holder at least once every 18-month period, except that the department may examine a permit holder more frequently if:(1)  the permit holder:(A)  has received a uniform risk rating, under standards adopted by rule of the commission, that is less than satisfactory as a result of the permit holder's most recent examination; or(B)  is subject to a formal enforcement proceeding or order by the commissioner; or(2)  the commissioner determines in the exercise of discretion that additional examination is necessary to safeguard the interests of purchasers and beneficiaries and to efficiently enforce applicable law.(c)  The department may defer an examination under this section for not more than six months if the commissioner determines that deferment of the examination is necessary for the efficient enforcement of applicable law.(d)  Any record may be maintained and provided for examination in electronic format if the record is reliable and can be retrieved in a timely manner.(e)  The department, in consultation with the advisory committee established under Section 154.208, shall develop an examination manual that includes procedures intended to reduce the expense of examinations under this section to the department and the permit holders.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.Amended by: Acts 2009, 81st Leg., R.S., Ch. 1190 (H.B. 3762), Sec. 3, eff. June 1, 2010.|
TX Fin Code § 154.054 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle E - Other Financial Businesses|Chapter 154 - Prepaid Funeral Services|Subchapter B. Powers and Duties of Department|Section 154.054. Examination Fee

Sec. 154.054.  EXAMINATION FEE.  (a)  For each examination conducted under Section 154.053, the commissioner or the commissioner's agent shall impose on the seller a fee in an amount set by the commission under Section 154.051 and based on the seller's total outstanding contracts.(b)  The amount of the fee must be sufficient to cover:(1)  the cost of the examination, including:(A)  salary and travel expenses for department employees, including travel to and from the place where the records are kept;  and(B)  any other expense necessarily incurred in conducting the examination;(2)  the equitable or proportionate cost of maintaining and operating the department;  and(3)  the cost of enforcing this chapter.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.  Amended by Acts 2001, 77th Leg., ch. 867, Sec. 74, eff. Sept. 1, 2001.|
TX Fin Code § 154.055 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle E - Other Financial Businesses|Chapter 154 - Prepaid Funeral Services|Subchapter B. Powers and Duties of Department|Section 154.055. Disclosure of Certain Information; Confidentiality

Sec. 154.055.  DISCLOSURE OF CERTAIN INFORMATION;  CONFIDENTIALITY.  (a)  Information relating to the financial condition of a seller obtained by the department directly or indirectly, through examination or otherwise, other than published statements, is confidential.(b)  The files and records of the department relating to the financial condition of a seller are confidential.(c)  The commissioner may disclose the information described by Subsection (a) or (b) to an agency, department, or instrumentality of this or another state or the United States if the commissioner considers disclosure to be in the best interest of the public and necessary or proper to enforce the laws of this or another state or the United States.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 154.056 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle E - Other Financial Businesses|Chapter 154 - Prepaid Funeral Services|Subchapter B. Powers and Duties of Department|Section 154.056. Payment of Restitution Money

Sec. 154.056.  PAYMENT OF RESTITUTION MONEY.  The department shall pay money received under a restitution order to the injured party as ordered.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 154.101 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle E - Other Financial Businesses|Chapter 154 - Prepaid Funeral Services|Subchapter C. Permits|Section 154.101. Permit Requirement

Sec. 154.101.  PERMIT REQUIREMENT.  A person must hold a permit issued under this subchapter to:(1)  sell prepaid funeral benefits, or accept money for prepaid funeral benefits, in this state under any contract;  or(2)  solicit an individual's designation of prepaid funeral benefits to be provided out of a fund, investment, security, or contract, including a contract or policy of insurance authorized, and sold under a license issued, by the Texas Department of Insurance, to be created or purchased by that individual at the suggestion or solicitation of the seller.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 154.102 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle E - Other Financial Businesses|Chapter 154 - Prepaid Funeral Services|Subchapter C. Permits|Section 154.102. Permit Application; Fee

Sec. 154.102.  PERMIT APPLICATION; FEE.  To obtain a permit to sell or continue to sell prepaid funeral benefits, a person must:(1)  be one of the following, if the person proposes to offer and sell prepaid funeral benefits contracts subject to Subchapter E:(A)  a funeral provider;(B)  an insurance company; or(C)  the insurance holding company for an insurance company if the insurance company does not have the authority under its domiciliary law to directly hold a permit issued under this chapter;(2)  be a funeral provider, if the person proposes to offer and sell prepaid funeral benefits contracts subject to Subchapter F;(3)  file an application for a permit with the department on a form prescribed by the department;(4)  pay a filing fee in an amount set by the commission under Section 154.051; and(5)  if applicable, pay extraordinary expenses required for out-of-state investigation of the person.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.  Amended by Acts 2001, 77th Leg., ch. 867, Sec. 75, eff. Sept. 1, 2001.Amended by: Acts 2009, 81st Leg., R.S., Ch. 1190 (H.B. 3762), Sec. 4, eff. September 1, 2009.|
TX Fin Code § 154.103 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle E - Other Financial Businesses|Chapter 154 - Prepaid Funeral Services|Subchapter C. Permits|Section 154.103. Issuance of Permit

Sec. 154.103.  ISSUANCE OF PERMIT.  (a)  The commissioner may investigate an applicant before issuing an initial permit.(b)  The commissioner shall approve the application and issue a permit to the applicant if the commissioner finds that the business ability, experience, character, financial condition, and general fitness of the applicant warrant the public's confidence.  The commissioner shall notify the applicant if the commissioner finds otherwise.(c)  The applicant on request is entitled to a hearing on the denial of the application, to be held not later than the 60th day after the date of the request.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 154.104 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle E - Other Financial Businesses|Chapter 154 - Prepaid Funeral Services|Subchapter C. Permits|Section 154.104. Term of Permit

Sec. 154.104.  TERM OF PERMIT.  (a)  The commission by rule shall prescribe the term of a permit issued under this subchapter.(b)  If the commission prescribes the term of a permit issued under this subchapter for a period other than one year, the commission shall prorate the fee required under this subchapter as necessary to reflect the term of the permit.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.  Amended by Acts 2001, 77th Leg., ch. 867, Sec. 76, eff. Sept. 1, 2001.Amended by: Acts 2019, 86th Leg., R.S., Ch. 20 (S.B. 614), Sec. 19, eff. September 1, 2019.|
TX Fin Code § 154.105 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle E - Other Financial Businesses|Chapter 154 - Prepaid Funeral Services|Subchapter C. Permits|Section 154.105. Prohibition on Transfer of Permit

Sec. 154.105.  PROHIBITION ON TRANSFER OF PERMIT.  A permit is not transferable.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 154.106 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle E - Other Financial Businesses|Chapter 154 - Prepaid Funeral Services|Subchapter C. Permits|Section 154.106. Transfer of Business Ownership

Sec. 154.106.  TRANSFER OF BUSINESS OWNERSHIP.  (a)  A permit holder shall notify the department and either the depository of the money held under Subchapter F or the issuer of insurance policy funding contracts under Subchapter E of a transfer of ownership of the permit holder's business or a transfer of 25 percent or more of the stock or other ownership or membership interest of the business in a single transaction.  The notice must be given:(1)  in the case of a voluntary transfer, not later than the seventh day after the date the contract for transfer is executed; or(2)  in the case of an involuntary transfer, not later than the first business day after the date the permit holder receives notice of the impending foreclosure or other involuntary transfer.(b)  If the proposed transferee will own 51 percent or more of the business and is not a permit holder, the proposed transferee shall file an application for a permit with the department in accordance with this subchapter.  If the application is complete, the commissioner shall approve or deny the application before the 16th day after the date the application was received.  The transfer of prepaid funeral benefits contracts of the permit holder that is the transferor may not occur until after the date a permit is issued to the applicant that is the transferee.(c)  If the commissioner denies the application, the applicant may request a hearing not later than the 15th day after the date on which notice of the determination is hand-delivered or the notice is mailed, whichever date is earlier.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.Amended by: Acts 2009, 81st Leg., R.S., Ch. 1190 (H.B. 3762), Sec. 5, eff. September 1, 2009.Acts 2009, 81st Leg., R.S., Ch. 1190 (H.B. 3762), Sec. 39, eff. September 1, 2009.Acts 2013, 83rd Leg., R.S., Ch. 39 (S.B. 297), Sec. 1, eff. September 1, 2013.|
TX Fin Code § 154.107 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle E - Other Financial Businesses|Chapter 154 - Prepaid Funeral Services|Subchapter C. Permits|Section 154.107. Required Renewal for Sellers

Sec. 154.107.  REQUIRED RENEWAL FOR SELLERS.  (a)  A seller that has outstanding contracts shall renew the seller's permit until the contracts are fully discharged.(b)  A seller may renew the seller's permit as an unrestricted permit if the seller:(1)  wishes to continue to sell prepaid funeral benefits; and(2)  demonstrates to the commissioner that the seller continues to meet the qualifications and satisfy the requirements that apply to an applicant for a permit.(c)  A seller must renew the seller's permit as a restricted permit if the seller:(1)  cannot demonstrate to the commissioner that the seller continues to meet the qualifications and satisfy the requirements that apply to an applicant for a permit; or(2)  no longer wishes to sell prepaid funeral benefits.(d)  A seller that holds a restricted permit may not sell prepaid funeral benefits during the period a restricted permit is in effect.  A contract entered into by a seller that at the time the contract is entered into holds a restricted permit is void and unenforceable and is not eligible for payment from a guaranty fund established under this chapter.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.Amended by: Acts 2013, 83rd Leg., R.S., Ch. 39 (S.B. 297), Sec. 2, eff. September 1, 2013.|
TX Fin Code § 154.108 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle E - Other Financial Businesses|Chapter 154 - Prepaid Funeral Services|Subchapter C. Permits|Section 154.108. Renewal Fee

Sec. 154.108.  RENEWAL FEE.  The commission shall set the renewal fee under Section 154.051.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.  Amended by Acts 2001, 77th Leg., ch. 867, Sec. 77, eff. Sept. 1, 2001.|
TX Fin Code § 154.109 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle E - Other Financial Businesses|Chapter 154 - Prepaid Funeral Services|Subchapter C. Permits|Section 154.109. Grounds for Cancellation or Suspension of or Refusal to Renew Permit

Sec. 154.109.  GROUNDS FOR CANCELLATION OR SUSPENSION OF OR REFUSAL TO RENEW PERMIT.  (a)  The commissioner by order may cancel or suspend a permit if the commissioner finds, by examination or other credible evidence, that the permit holder:(1)  violated this chapter or another law of this state relating to the sale of prepaid funeral benefits, including a final order of the commissioner or rule of the commission;(2)  misrepresented or concealed a material fact in the permit application;  or(3)  obtained, or attempted to obtain, the permit by misrepresentation, concealment, or fraud.(b)  The commissioner by order may refuse to renew a permit if the commissioner finds, by examination or other credible evidence, that the permit holder does not possess a qualification required by Section 154.103(b) for issuance of an initial permit, or that the permit holder:(1)  committed one or more of the acts described by Subsection (a); and(2)  did not correct the violation before the 31st day after the date of written notice from the commissioner.(c)  The commissioner may cancel the permit of a seller that fails to provide to the department evidence of payment of insurance premiums required by the department under Section 154.203 after the department by written notice requests the evidence.(d)  The commissioner may place on probation a permit holder whose permit is suspended.  If a permit suspension is probated, the commissioner may require the permit holder:(1)  to report regularly to the department on matters that are the basis of the probation;  or(2)  to limit its activities as prescribed by the commissioner.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.  Amended by Acts 2001, 77th Leg., ch. 867, Sec. 78, eff. Sept. 1, 2001;  Acts 2001, 77th Leg., ch. 699, Sec. 5, eff. Sept. 1, 2001.Amended by: Acts 2009, 81st Leg., R.S., Ch. 1190 (H.B. 3762), Sec. 6, eff. September 1, 2009.|
TX Fin Code § 154.110 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle E - Other Financial Businesses|Chapter 154 - Prepaid Funeral Services|Subchapter C. Permits|Section 154.110. Order to Cancel, Suspend, or Refuse to Renew Permit

Sec. 154.110.  ORDER TO CANCEL, SUSPEND, OR REFUSE TO RENEW PERMIT.  (a)  An order issued under Section 154.109 must state:(1)  with reasonable certainty the grounds for the order;  and(2)  the effective date, which may not be before the 16th day after the date the order is mailed.(b)  The order shall be served on the person named in the order by certified mail, return receipt requested, to the last known address of the person.(c)  The order takes effect as proposed unless the person named in the order requests a hearing not later than the 15th day after the date the order is mailed.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 154.111 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle E - Other Financial Businesses|Chapter 154 - Prepaid Funeral Services|Subchapter C. Permits|Section 154.111. Successor Permit Holder

Sec. 154.111.  SUCCESSOR PERMIT HOLDER.  (a)  The commission shall adopt rules governing the selection of a successor permit holder.(b)  A successor permit holder to whom the commissioner transfers a contract under Section 154.413 shall perform the contract and is entitled to retain the money that would have been due the person whose permit was canceled, including any money seized by the commissioner.(c)  Any premium received through the selection process that exceeds the claims against the prior permit holder shall be deposited in the fund maintained under Section 154.351.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.  Amended by Acts 2001, 77th Leg., ch. 867, Sec. 79, eff. Sept. 1, 2001.|