Sec. 154.306. LIABILITY AND OBLIGATIONS OF COMPTROLLER. (a) The comptroller is liable to the purchaser or beneficiary of a prepaid funeral benefits contract presumed abandoned under this subchapter only to the extent of money that is attributable to the contract and delivered to the comptroller.
(b) The comptroller is not obligated to perform the seller's duties under an abandoned prepaid funeral benefits contract.
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.
Structure Texas Statutes
Title 3 - Financial Institutions and Businesses
Subtitle E - Other Financial Businesses
Chapter 154 - Prepaid Funeral Services
Subchapter G. Abandoned Contracts
Section 154.301. Presumption of Abandonment
Section 154.302. Notice of Abandoned Money
Section 154.303. Authorization to Withdraw Money
Section 154.304. Delivery to Comptroller of Abandoned Money and Report
Section 154.305. Discharge of Contractual Obligations; Indemnity of Seller