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HB 1112, 63rd Regular Session
Providing that purchasers of contracts of prepaid funeral benefits shall constitute a lawful group for issuance of group contract of decreasing term life insurance by a life insurance company authorized to do business in the State of Texas; providing that the amount of insurance relative to any particular purchaser of such contract shall at all times approximate the future unpaid balance thereof; providing that the seller shall have an insurable interest in the life of any purchase of such contract to the extent of any unpaid balance thereof; providing that the proceeds of any insurance policy on the life of a purchaser of such contract shall be applied to the reduction or elimination of any unpaid balance thereof; providing for severability; providing that all laws or parts of law which are in conflict with this Act are repealed or modified to the extent of such conflict only.

Chamber Action Comments  Date 
H Filed   03/08/1973
H Read first time   03/14/1973
H Referred to Committee on Insurance   03/14/1973
H Considered in public hearing   03/20/1973
H Reported favorably   03/20/1973
H Sent to Calendar Committee   03/22/1973
H Laid on the table subject to call   04/13/1973

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