Texas Finance Code 154.352 – Assessment On Sales Contracts
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(a) The department shall assess and collect from a seller not more than $1 for each unmatured prepaid funeral benefits contract sold during each calendar year and shall deposit the assessments in the fund.
(b) The department shall stop assessing the amounts required by Subsection (a) when the amount in the fund first reaches $1 million.
Terms Used In Texas Finance Code 154.352
- Contract: A legal written agreement that becomes binding when signed.
- Year: means 12 consecutive months. See Texas Government Code 311.005
