Tex. Fin. Code § 154.253 · Subchapter F. TRUST-FUNDED PREPAID FUNERAL BENEFITS
DEPOSIT OF MONEY PAID OR COLLECTED.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) Not later than the 30th day after the date of collection, the money, other than money retained as provided by Section 154.252, shall be deposited:
(1) in a financial institution that has its main office or a branch in this state in an interest-bearing restricted account insured by the federal government; or
(2) in trust with a financial institution that has its main office or a branch located in this state and is authorized to act as a fiduciary in this state, to be invested by the financial institution as trustee in accordance with this subchapter.
(b) An account described by Subsection (a), including a trust account, shall be carried in the name of the funeral provider or other entity to whom the purchaser makes payment and must include the words "prepaid funeral benefits" or "pre-need funeral benefits."
Notes and commentary — not statutory text
History
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997. Amended by Acts 1999, 76th Leg., ch. 344, Sec. 2.024, eff. Sept. 1, 1999.
Amended by:
Acts 2013, 83rd Leg., R.S., Ch. 39 (S.B. 297), Sec. 4, eff. September 1, 2013.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/FI/htm/FI.154.htm
- Text hash
- sha256 9a59b8f4ed4bf21fff741892538afe3832c7cb596cb6595c9072945102db3b79
- Composed by
- compose_tx.py 2026-10-05: the Legislative Council's chapter files read in document order; verify_tx.py's independent reading (lxml DOM walk) agrees character for character
This section cites
Provisions in this library that the text above cites, as it prints each citation. A range cited as “ss. 61.13-61.16” links its first and last provisions.
Cited by 6 provisions
Provisions in this library whose text cites Tex. Fin. Code § 154.253. Each shows the citation as that text prints it.
Finance Code
- Tex. Fin. Code § 154.002DEFINITIONS.Printed as Section 154.253
- Tex. Fin. Code § 154.255STANDARD OF DUTY OF DEPOSITORY.Printed as Section 154.253(a)(1)
- Tex. Fin. Code § 154.256STANDARD OF DUTY OF TRUSTEE.Printed as Section 154.253(a)(2)
- Tex. Fin. Code § 154.260USE OF MONEY TO PURCHASE, LEASE, OR INVEST IN ASSET OWNED BY SELLER OR FUNERAL PROVIDER.Printed as Section 154.253
- Tex. Fin. Code § 154.261WITHDRAWAL OF EARNINGS TO PAY CERTAIN EXPENSES.Printed as Section 154.253
- Tex. Fin. Code § 154.263WITHDRAWAL OF EARNINGS ATTRIBUTABLE TO CONTRACT.Printed as Section 154.253
Procedural information only. Not legal advice and not a substitute for the advice of an attorney. Confirm the current text with the official publisher before relying on it.