Sec. 154.352. ASSESSMENT ON SALES CONTRACTS. (a) The department shall assess and collect from a seller not more than $1 for each unmatured prepaid funeral benefits contract sold during each calendar year and shall deposit the assessments in the fund.
(b) The department shall stop assessing the amounts required by Subsection (a) when the amount in the fund first reaches $1 million.
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
Section 154.351. Maintenance of Guaranty Fund
Section 154.352. Assessment on Sales Contracts
Section 154.3525. Assessment on Insurance-Funded Contracts
Section 154.353. Deposit of Fund or Portion of Fund
Section 154.354. Use of Fund Earnings
Section 154.355. Advisory Council
Section 154.3551. Limit on Liability
Section 154.356. Assessment on Outstanding Trust-Funded Contracts to Pay Claims
Section 154.3565. Assessment on Outstanding Insurance-Funded Contracts to Pay Claims
Section 154.357. Claim Against Seller, Funeral Provider, or Depository
Section 154.358. Claims Against Fund
Section 154.359. Permissible Uses of Fund