Sec. 154.252. RETENTION OF MONEY FOR EXPENSES. The seller of a trust-funded prepaid funeral benefits contract may retain for the seller's use and benefit an amount not to exceed one-half of all money collected or paid until the seller has received an amount equal to 10 percent of the total amount the purchaser agreed to pay under the contract.
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997. Amended by Acts 2001, 77th Leg., ch. 699, Sec. 10, eff. Sept. 1, 2001.
Structure Texas Statutes
Title 3 - Financial Institutions and Businesses
Subtitle E - Other Financial Businesses
Chapter 154 - Prepaid Funeral Services
Subchapter F. Trust-Funded Prepaid Funeral Benefits
Section 154.251. Applicability
Section 154.252. Retention of Money for Expenses
Section 154.253. Deposit of Money Paid or Collected
Section 154.254. Amount Payable on Cancellation of Contract
Section 154.255. Standard of Duty of Depository
Section 154.256. Standard of Duty of Trustee
Section 154.257. Investment Plan
Section 154.258. Investment and Management of Trust Assets
Section 154.261. Withdrawal of Earnings to Pay Certain Expenses
Section 154.262. Withdrawal of Money on Death of Beneficiary
Section 154.263. Withdrawal of Earnings Attributable to Contract