Tex.
Fin. Code Section 154.002
Definitions
(1)
“Cash advance item” has the meaning assigned by 16 C.F.R. Section 453.1.(1-a)
“Commission” means the Finance Commission of Texas.(2)
“Commissioner” means the banking commissioner of Texas.(3)
“Department” means the Texas Department of Banking.(4)
“Earnings” means the amount in an account in excess of the amount paid by the purchaser of a prepaid funeral benefits contract that is deposited in the account as provided by Section 154.253 (Deposit of Money Paid or Collected), including accrued interest, accrued income, and enhanced or increased value.(5)
“Financial institution” has the meaning assigned by Section 201.101 (Definitions).(6)
“Funeral provider” means the person designated in a prepaid funeral benefits contract that has agreed to provide the specified prepaid funeral benefits.(6-a)
“Insurance-funded contract” means an insurance-funded prepaid funeral benefits contract.(7)
“Insurance policy” means a life insurance policy or annuity contract.(8)
“Person” means an individual, firm, partnership, corporation, or association.(9)
“Prepaid funeral benefits” means prearranged or prepaid funeral or cemetery services or funeral merchandise, including an alternative container, casket, or outer burial container. The term does not include a grave, marker, monument, tombstone, crypt, niche, plot, or lawn crypt unless it is sold in contemplation of trade for a funeral service or funeral merchandise to which this chapter applies.(10)
“Seller” means a person selling, accepting money or premiums for, or soliciting contracts for prepaid funeral benefits or contracts or insurance policies to fund prepaid funeral benefits in this state.(11)
“Crypt,” “grave,” “lawn crypt,” “niche,” and “plot” have the meanings assigned by Section 711.001 (Definitions), Health and Safety Code.(12)
“Funeral merchandise” or “merchandise” means goods sold or offered for sale on a preneed basis directly to the public for use in connection with funeral services.(13)
“Funeral service” or “service” means a service sold or offered for sale on a preneed basis that may be used to:(A)
care for and prepare a deceased human body for burial, cremation, or other final disposition; and(B)
arrange, supervise, or conduct a funeral ceremony or the final disposition of a deceased human body.(14)
“Trust-funded contract” means a trust-funded prepaid funeral benefits contract.
Source:
Section 154.002 — Definitions, https://statutes.capitol.texas.gov/Docs/FI/htm/FI.154.htm#154.002 (accessed May 4, 2024).
