Conversion From Trust-Funded Prepaid Funeral Benefits

Sec. 154.204. CONVERSION FROM TRUST-FUNDED PREPAID FUNERAL BENEFITS. (a) The department must approve a conversion from trust-funded prepaid funeral benefits to insurance-funded prepaid funeral benefits as safeguarding the rights and interests of the individual who purchases the prepaid funeral benefits contract. (b) Each contract holder shall be notified in writing of: (1) the terms of the proposed conversion; and (2) the holder's right to decline the conversion. (c) An application for approval of a conversion from trust-funded prepaid funeral benefits to insurance-funded prepaid funeral benefits must be: (1) filed with the department on forms prescribed by the department; and (2) accompanied by a conversion application fee set by the department under Section 154.051. Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.