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 25.23 - Application Fees

Universal Citation: 7 TX Admin Code ยง 25.23

Current through Reg. 49, No. 38; September 20, 2024

(a) Definitions.

(1) Outstanding contracts--Unmatured, prepaid funeral benefit contracts.

(2) You, Your or I--A person having a valid permit to sell prepaid funeral benefit contracts issued by the Department under § RSA 154.101 of the Finance Code, except that, for purposes of subsection (b)(1) of this section, "you," "your," or "I" means an applicant for a new prepaid funeral benefits permit.

(b) Application fees. The application fees set forth in this subsection have been set in accordance with the Finance Code, Chapter 154, for the purpose of defraying the cost of administering the Finance Code, Chapter 154. Except as otherwise provided in this subsection, all fees are due at the time the application is filed and are nonrefundable. An application submitted without the appropriate filing fee will be deemed incomplete and will not be considered.

(1) New permit application fee. If you apply for a new prepaid funeral benefits permit, you must pay a $500 fee. In addition to the application fee, you must pay any extraordinary costs incurred by the department pursuant to any out of state investigation of you as required by the Finance Code, § RSA 154.102(3). You must pay any extraordinary costs within 20 days after written request by the department.

(2) Conversion application fee. If you apply to convert a trust-funded prepaid funeral benefits operation to an insurance-funded prepaid funeral benefits operation, you must pay a $1,000 fee per application. In the event additional processing time is required because the application is incomplete, you must pay the additional processing costs incurred in excess of the filing fee originally submitted, at the rate of $600 per eight-hour employee day, provided that the total fee cannot exceed $2,000. Until you have paid any such additional fee, the application will be deemed incomplete and will not be considered.

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