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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thereof; providing for severability; providing that all laws or parts of law which are in conflict with this Act are repealed or modified to the extent of such conflict only.
Last action: Laid on the table subject to call
Author: Bill Hilliard
FUNERALS & FUNERAL DIRECTORS
Insurance--Life & Annuities
House Committee: Insurance ()
March 20 1973
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