SB 654, 63rd R.S.
Providing that purchasers of contracts for prepaid funeral benefits shall constitute a lawful group for the issuance of a 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 to 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 purchaser of such contract to the extent of any unpaid balance thereof; providing that the proceeds of any insurance policy received by the seller on the life of a purchaser of such contract shall be applied to the reduction of elimination of any unpaid balance thereof; excepting from coverage of this Act contracts covered in Section 1a of said Article; providing for severability; providing that all laws or parts of law which are in conflict with this Act are repealed or modified to the extent of such conflict only.
| Chamber | Action | Comments | ↓ Date ↑ |
| S | Effective immediately | 05/18/1973 | |
| S | Signed by Governor | 05/18/1973 | |
| S | Sent to Governor | 05/08/1973 | |
| H | Signed | 05/09/1973 | |
| S | Signed | 05/08/1973 | |
| S | House passage reported | 05/07/1973 | |
| H | Votes recorded | 05/05/1973 | |
| H | Passed | 05/05/1973 | |
| H | Read third time | 05/05/1973 | |
| H | Votes recorded | 05/05/1973 | |
| H | Passed to third reading | 05/05/1973 | |
| H | Read second time | 05/05/1973 | |
| H | Sent to Calendar Committee | 04/25/1973 | |
| H | Reported favorably | 04/24/1973 | |
| H | Referred to Committee on Insurance | 04/18/1973 | |
| H | Correction in referral | 04/18/1973 | |
| H | Referred to Committee on Business and Industry | 04/17/1973 | |
| H | Read first time | 04/17/1973 | |
| H | Received from the Senate | 04/12/1973 | |
| S | Sent to House | 04/12/1973 | |
| S | Passed | 04/12/1973 | |
| S | Passed to engrossment as amended | 04/12/1973 | |
| S | Amendments | 04/12/1973 | |
| S | Read second time | 04/12/1973 | |
| S | Laid before Senate | 04/12/1973 | |
| S | Reported favorably as amended | 04/09/1973 | |
| S | Committee hearing date | 04/09/1973 | |
| S | Referred to Committee on Economic Development | 03/09/1973 | |
| S | Read first time | 03/09/1973 | |
| S | Filed | 03/08/1973 |
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