(a) The commission, the Texas Department of Insurance, and the Texas Department of Banking shall adopt a joint memorandum of understanding relating to prepaid funeral services and transactions. The memorandum must:
(1) outline the responsibilities of each agency in regulating prepaid funeral services and transactions;
(2) establish procedures to be used by each agency in:
(A) referring a complaint to one of the other agencies;
(B) investigating a complaint; and
(C) notifying the other agencies of a complaint or a complaint investigation;
(3) specify:
(A) an action the agencies regard as a deceptive trade practice; and
(B) the information the agencies provide consumers and when that information is to be provided; and
(4) set the administrative penalty each agency imposes for a violation.
(b) Not later than the last month of each state fiscal year, the commission and the other agencies shall review and update the memorandum of understanding.

Terms Used In Texas Occupations Code 651.159

  • Complaint: A written statement by the plaintiff stating the wrongs allegedly committed by the defendant.
  • Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
  • Month: means a calendar month. See Texas Government Code 312.011
  • Rule: includes regulation. See Texas Government Code 311.005

(c) Each agency by rule shall adopt the memorandum of understanding and any revision to the memorandum.

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