Guaranty Fund Advisory Council (GFAC)

By statute, the Department maintains funds to guarantee performance by sellers of trust-funded and insurance-funded prepaid funeral benefits contracts. The Guaranty Fund Advisory Council is charged with supervising the operation and maintenance of these prepaid funeral benefit contract funds. Provisions governing the Advisory Council and the Guaranty Fund are outlined in Chapter 154, subchapter H of the Texas Finance Code. Advisory Council member information, future meeting details and prior meetings minutes and agendas are available below.


Council Members Representing Original Appointment Date End of Term
Charles G. Cooper, Chair of Advisory Council Department of Banking   No Expiration
Wallace Jones Industry Representative 1/1/2015 12/31/2018
Rebecca Ann Motley Consumer Representative 1/1/2016 12/31/2017
Tom Elam Industry Representative 9/1/2009 12/31/2017
Investment Officer Representing End of Term
Stephanie S. Newberg, Deputy Commissioner Department of Banking No Expiration

Next Meeting

  • Date: TBD
  • Location: Finance Commission Building, 3rd floor hearing room

Prior Meetings

Date Agenda Minutes Audio
Meeting Information
May 18, 2017 Agenda Minutes
(Pending Approval)
(Pending Approval)
May 12, 2016 Agenda Minutes Audio
May 14, 2015 Agenda Minutes Audio
May 14, 2014 Agenda Minutes  
May 16, 2013 Agenda Minutes  
May 17, 2012 Agenda Minutes  
June 1, 2011 Agenda Minutes