Texas · Through 89th 2nd Called Legislative Session, 2025

Tex. Property Code § 162.006: CONSTRUCTION ACCOUNT REQUIRED IN CERTAIN CIRCUMSTANCES.

Where this section sits in the code

PROPERTY CODE
TITLE 10. MISCELLANEOUS BENEFICIAL PROPERTY INTERESTS
SUBTITLE B. FIDUCIARIES
CHAPTER 162. CONSTRUCTION PAYMENTS, LOAN RECEIPTS, AND MISAPPLICATION OF TRUST FUNDS
SUBCHAPTER A. CONSTRUCTION PAYMENTS AND LOAN RECEIPTS

(a) A contractor who enters into a written contract with a property owner to construct improvements to a residential homestead for an amount exceeding $5,000 shall deposit the trust funds in a construction account in a financial institution.

(b) The periodic statement received from the financial institution must refer to the account as a "construction account" to satisfy the requirements of this section.

Added by Acts 1997, 75th Leg., ch. 1018, Sec. 4, eff. Sept. 1, 1997.

Collected 2026-08-27T01:47:37Z. Source file · JSON

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