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Summary
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The Texas Department of Banking must approve all prepaid funeral benefit contract forms
Contract copies must go to the purchaser, the provider,
and the insurance company
After collecting the premiums for an insurance
contract you have 30 days to remit them to the insurance carrier
A contract seller's permit may be canceled for
failing to provide premium remittance evidence requested by the Banking
Department
After a trust-funded contract is converted to an insurance-funded contract the purchaser may revert back to the original trust fund at any time during the next 60 days, otherwise known as a grace period
