Sec. 154.257. INVESTMENT PLAN. (a) A permit holder or trustee, if the permit holder deposits the money with a financial institution as trustee, shall:
(1) adopt a written investment plan consistent with this section and Sections 154.256 and 154.258 that specifies the quality, maturity, and diversification of investments;
(2) at least annually, review the adequacy and implementation of the investment plan;
(3) maintain investment records covering each transaction; and
(4) maintain the investment plan in the principal offices of the permit holder and trustee.
(b) The permit holder shall provide the investment plan to the department with the filing of the permit holder's annual report.
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997. Amended by Acts 1999, 76th Leg., ch. 344, Sec. 2.025, eff. Sept. 1, 1999.
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