(a) The commission, the Texas Department of Insurance, and the Texas Department of Banking shall adopt a joint memorandum of understanding relating to prepaid funeral services and transactions. The memorandum must:
(1) outline the responsibilities of each agency in regulating prepaid funeral services and transactions;
(2) establish procedures to be used by each agency in:
(A) referring a complaint to one of the other agencies;
(B) investigating a complaint; and
(C) notifying the other agencies of a complaint or a complaint investigation;
(3) specify:
(A) an action the agencies regard as a deceptive trade practice; and
(B) the information the agencies provide consumers and when that information is to be provided; and
(4) set the administrative penalty each agency imposes for a violation.
(b) Not later than the last month of each state fiscal year, the commission and the other agencies shall review and update the memorandum of understanding.

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Terms Used In Texas Occupations Code 651.159

  • Complaint: A written statement by the plaintiff stating the wrongs allegedly committed by the defendant.
  • Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
  • Month: means a calendar month. See Texas Government Code 312.011
  • Rule: includes regulation. See Texas Government Code 311.005

(c) Each agency by rule shall adopt the memorandum of understanding and any revision to the memorandum.