The Finance Commission of Texas (the commission), on behalf of the Texas Department of Banking (the department), adopts amendments to §27.1, concerning notices to applicants; application processing times; and appeals related to prepaid funeral benefits contracts and perpetual care cemeteries, without changes to the proposed text as published in the September 2, 2011, issue of the Texas Register (36 TexReg 5540).

The amended rule allows the department more time to review applications to determine whether they are complete and, if necessary, to specify additional information needed. The amendments also delete excess verbiage.

Previously, §27.1 required the department to give notice to applicants for prepaid funeral sellers permits and certificates of authority to operate perpetual care cemeteries within ten calendar days of whether their applications are complete or deficient. If the application is deficient, the department must specify what additional information is required. Over the years, applications in these areas have become more complex and require more comprehensive review. Ten calendar days does not give the department adequate time to review and specify what additional information is required.

Amended §27.1(a) increases from ten calendar days to ten business days the department's time to review and either accept an application for filing or notify the applicant of additional information required. Amended §27.1(a) also deletes excess verbiage.

The department received no comments regarding the proposed amendments.

The amendments are adopted pursuant to Finance Code §154.051(b), which authorizes the commission to adopt reasonable rules relating to the enforcement and administration of Finance Code Chapter 154, Prepaid Funeral Services; Finance Code §154.101, which requires a person to hold a permit to sell prepaid funeral benefits; Health and Safety Code §712.0032, which requires a corporation to hold a certificate of authority issued under Chapter 712 to operate a perpetual care cemetery; Health and Safety Code §712.0033, which requires a corporation to apply to the department for a certificate of authority; and Health and Safety Code §712.008, which authorizes the commission to adopt rules to enforce and administer Chapter 712.