Sec. 4054.157. LIMIT ON AGENT'S AUTHORITY. Except as provided by Section 154.2021, Finance Code, a funeral prearrangement life insurance agent licensed under this subchapter may not write any coverage or combination of coverages with an initial guaranteed death benefit on any life that exceeds the total cost of the prepaid funeral benefits purchased under the prepaid funeral contract.
Added by Acts 2003, 78th Leg., ch. 1274, Sec. 7, eff. April 1, 2005.
Amended by:
Acts 2011, 82nd Leg., R.S., Ch. 615 (S.B. 579), Sec. 1, eff. September 1, 2011.
Structure Texas Statutes
Title 13 - Regulation of Professionals
Chapter 4054 - Life, Accident, and Health Agents
Subchapter D. Funeral Prearrangement Life Insurance License
Section 4054.151. Funeral Prearrangement Life Insurance Agent
Section 4054.152. License Issuance
Section 4054.155. Investigation by Department
Section 4054.156. Withdrawal of Insurer's Authority
Section 4054.157. Limit on Agent's Authority
Section 4054.158. Revocation; Notification