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AN ACT
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relating to prepaid funeral benefits. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Section 154.302, Finance Code, is amended to |
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read as follows: |
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Sec. 154.302. NOTICE OF ABANDONED MONEY. On March 1 [June
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30] of each year, a seller that holds money presumed abandoned under |
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Section 154.301(b) shall furnish the commissioner with an |
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acknowledged written notice of the abandoned money not later than |
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the following June [October] 1. The notice must include: |
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(1) the name and address, if known, of each person who |
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appears to be the purchaser or the beneficiary of the contract; |
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(2) the identification number, if any, of the |
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contract; |
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(3) the total amount paid on the contract; |
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(4) the amount paid on the contract and held at the |
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depository; |
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(5) the earnings of the contract; and |
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(6) a statement by the seller recognizing the seller's |
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obligation and intent to deliver the abandoned money to the |
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comptroller in accordance with this subchapter. |
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SECTION 2. Section 154.304, Finance Code, is amended to |
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read as follows: |
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Sec. 154.304. DELIVERY TO COMPTROLLER OF ABANDONED MONEY |
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AND REPORT. Not later than the first July [November] 1 after the |
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date a seller is required to furnish notice to the commissioner |
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under [receives the notice required by] Section 154.302, the seller |
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shall deliver to the comptroller: |
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(1) the abandoned money; and |
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(2) the report required to be filed under Chapter 74, |
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Property Code. |
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SECTION 3. Section 154.400, Finance Code, is amended by |
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adding Subsection (e) to read as follows: |
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(e) The commissioner may recover the reasonable costs |
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incurred in connection with an investigation conducted under this |
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section from the person who is the subject of the investigation if, |
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after a hearing conducted as provided by Chapter 2001, Government |
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Code, the trier of fact determines that the person violated this |
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chapter or a rule adopted under this chapter. |
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SECTION 4. Section 154.400(e), Finance Code, as added by |
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this Act, applies only to a violation that occurs or an |
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investigation conducted on or after the effective date of this Act. |
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SECTION 5. This Act takes effect September 1, 2019. |
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______________________________ |
______________________________ |
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President of the Senate |
Speaker of the House |
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I hereby certify that S.B. No. 1822 passed the Senate on |
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April 11, 2019, by the following vote: Yeas 31, Nays 0. |
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______________________________ |
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Secretary of the Senate |
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I hereby certify that S.B. No. 1822 passed the House on |
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May 17, 2019, by the following vote: Yeas 147, Nays 0, two |
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present not voting. |
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______________________________ |
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Chief Clerk of the House |
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Approved: |
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______________________________ |
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Date |
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______________________________ |
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Governor |