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.
Structure Texas Statutes
Title 3 - Financial Institutions and Businesses
Subtitle E - Other Financial Businesses
Chapter 154 - Prepaid Funeral Services
Section 154.101. Permit Requirement
Section 154.102. Permit Application; Fee
Section 154.103. Issuance of Permit
Section 154.104. Term of Permit
Section 154.105. Prohibition on Transfer of Permit
Section 154.106. Transfer of Business Ownership
Section 154.107. Required Renewal for Sellers
Section 154.109. Grounds for Cancellation or Suspension of or Refusal to Renew Permit
Section 154.110. Order to Cancel, Suspend, or Refuse to Renew Permit