Sec. 154.204.  CONVERSION FROM TRUST-FUNDED PREPAID FUNERAL BENEFITS.  (a)  The department must approve a conversion from trust-funded prepaid funeral benefits to insurance-funded prepaid funeral benefits as safeguarding the rights and interests of the individual who purchases the prepaid funeral benefits contract.
(b)  Each contract holder shall be notified in writing of:
(1)  the terms of the proposed conversion;  and
(2)  the holder's right to decline the conversion.
(c)  An application for approval of a conversion from trust-funded prepaid funeral benefits to insurance-funded prepaid funeral benefits must be:
(1)  filed with the department on forms prescribed by the department;  and
(2)  accompanied by a conversion application fee set by the department under Section 154.051.
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.