Texas Administrative Code
Title 7 - BANKING AND SECURITIES
Part 2 - TEXAS DEPARTMENT OF BANKING
Chapter 25 - PREPAID FUNERAL CONTRACTS
Subchapter B - REGULATION OF LICENSES
Section 25.21 - Introduction to Joint Memorandum of Understanding
Universal Citation: 7 TX Admin Code ยง 25.21
Current through Reg. 49, No. 38; September 20, 2024
(a) Occupations Code, § RSA 651.159 mandates the Texas Department of Banking, the Texas Funeral Service Commission, and the Texas Department of Insurance to adopt by rule a joint memorandum of understanding relating to prepaid funeral services and transactions that:
(1) outlines the responsibilities of each
agency in regulating these services and transactions;
(2) establishes procedures to be used by each
agency in referring complaints to one of the other agencies;
(3) establishes procedures to be used by each
agency in investigating complaints;
(4) establishes procedures to be used by each
agency in notifying the other agencies of a complaint or of the investigation
of a complaint;
(5) describes
actions the agencies regard as deceptive trade practices;
(6) specifies the information the agencies
provide consumers and when that information is to be provided; and
(7) sets the administrative penalties each
agency imposes for violations.
(b) Any revisions to the joint memorandum of understanding will be adopted by rule by each agency.
(c) The joint memorandum of understanding entered into by the three agencies is found at § RSA 25.22 of this title (relating to Joint Memorandum of Understanding).
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