Agent; Deposit of Money

Sec. 154.160. AGENT; DEPOSIT OF MONEY. (a) A seller shall designate one or more agents by name or title. (b) The seller shall notify the department of: (1) the designation not later than the 10th day after the date the seller becomes subject to this chapter; and (2) any change in the designation not later than the 10th day after the date of the change. (c) An agent designated under this section is: (1) considered a fiduciary for purposes of Section 32.45, Penal Code; and (2) responsible for the deposit of money collected under prepaid funeral benefits contracts. Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997. Amended by: Acts 2009, 81st Leg., R.S., Ch. 1190 (H.B. 3762), Sec. 13, eff. September 1, 2009.