Texas § 154.160 AGENT; DEPOSIT OF MONEY.

Texas Statutes

§ 154.160 — AGENT; DEPOSIT OF MONEY.

Texas § 154.160

Code FIFinance Code

This text of Texas § 154.160 (AGENT; DEPOSIT OF MONEY.) is published on Counsel Stack Legal Research, covering Texas primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Tex. Finance Code Code Ann. § 154.160 (2026).

Text

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.

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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.

Legislative History

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.