Texas Finance Code 154.404 – Criminal Penalty for Failure to Deliver Money to Designated Agent
Current as of: 2024 | Check for updates
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(a) A seller or a person acting on behalf of a seller commits an offense if the seller or person:
(1) collects money under a prepaid funeral benefits contract; and
(2) fails to deliver the money to a designated agent of the seller before the 31st day after the date it is collected.
(b) An offense under this section is punishable as if it were an offense under § 32.45, Penal Code.
Terms Used In Texas Finance Code 154.404
- Contract: A legal written agreement that becomes binding when signed.
- Person: includes corporation, organization, government or governmental subdivision or agency, business trust, estate, trust, partnership, association, and any other legal entity. See Texas Government Code 311.005