Bill Text: TX HB3162 | 2019-2020 | 86th Legislature | Comm Sub
Bill Title: Relating to prepaid funeral benefits.
Spectrum: Partisan Bill (Republican 2-0)
Status: (Engrossed - Dead) 2019-05-19 - Committee report printed and distributed [HB3162 Detail]
Download: Texas-2019-HB3162-Comm_Sub.html
By: Flynn (Senate Sponsor - Campbell) | H.B. No. 3162 | |
(In the Senate - Received from the House April 11, 2019; | ||
April 15, 2019, read first time and referred to Committee on | ||
Business & Commerce; May 19, 2019, reported favorably by the | ||
following vote: Yeas 7, Nays 0; May 19, 2019, sent to printer.) | ||
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relating to prepaid funeral benefits. | ||
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: | ||
SECTION 1. Section 154.302, Finance Code, is amended to | ||
read as follows: | ||
Sec. 154.302. NOTICE OF ABANDONED MONEY. On March 1 [ |
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Section 154.301(b) shall furnish the commissioner with an | ||
acknowledged written notice of the abandoned money not later than | ||
the following June [ |
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(1) the name and address, if known, of each person who | ||
appears to be the purchaser or the beneficiary of the contract; | ||
(2) the identification number, if any, of the | ||
contract; | ||
(3) the total amount paid on the contract; | ||
(4) the amount paid on the contract and held at the | ||
depository; | ||
(5) the earnings of the contract; and | ||
(6) a statement by the seller recognizing the seller's | ||
obligation and intent to deliver the abandoned money to the | ||
comptroller in accordance with this subchapter. | ||
SECTION 2. Section 154.304, Finance Code, is amended to | ||
read as follows: | ||
Sec. 154.304. DELIVERY TO COMPTROLLER OF ABANDONED MONEY | ||
AND REPORT. Not later than the first July [ |
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date a seller is required to furnish notice to the commissioner | ||
under [ |
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shall deliver to the comptroller: | ||
(1) the abandoned money; and | ||
(2) the report required to be filed under Chapter 74, | ||
Property Code. | ||
SECTION 3. Section 154.400, Finance Code, is amended by | ||
adding Subsection (e) to read as follows: | ||
(e) The commissioner may recover the reasonable costs | ||
incurred in connection with an investigation conducted under this | ||
section from the person who is the subject of the investigation if, | ||
after a hearing conducted as provided by Chapter 2001, Government | ||
Code, the trier of fact determines that the person violated this | ||
chapter or a rule adopted under this chapter. | ||
SECTION 4. Section 154.400(e), Finance Code, as added by | ||
this Act, applies only to a violation that occurs or an | ||
investigation conducted on or after the effective date of this Act. | ||
SECTION 5. This Act takes effect September 1, 2019. | ||
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