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2025 Texas Statutes
Finance Code
Title 3 - Financial Institutions and Businesses
Subtitle E - Other Financial Businesses
Chapter 154 - Prepaid Funeral Services
Subchapter G. Abandoned Contracts
Section 154.305. Discharge of Contractual Obligations; Indemnity of Seller
Universal Citation:
TX Fin Code § 154.305 (2025)
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Sec. 154.305. DISCHARGE OF CONTRACTUAL OBLIGATIONS; INDEMNITY OF SELLER. (a) The delivery of abandoned money and reporting to the comptroller under Section 154.304:
(1) relieves the seller of the obligations and liabilities under the prepaid funeral benefits contract;
(2) cancels the prepaid funeral benefits contract; and
(3) discharges the obligations and liabilities of and claims against the seller and funeral provider.
(b) A seller that delivers money to the comptroller under Section 154.304 shall be indemnified under Section 74.304, Property Code, for any claim that may be made with respect to the property.
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.
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