{"data":{"id":"us-tx/tex.-property-code-162.006","jurisdiction":"us-tx","citation":"Tex. Property Code § 162.006","heading":"CONSTRUCTION ACCOUNT REQUIRED IN CERTAIN CIRCUMSTANCES.","body":"(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.\n(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.\nAdded by Acts 1997, 75th Leg., ch. 1018, Sec. 4, eff. Sept. 1, 1997.","path":["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"],"source_url":"https://statutes.capitol.texas.gov/Docs/PR/htm/PR.162.htm#162.006","current_through":"89th 2nd Called Legislative Session, 2025","vintage":"","retrieved_at":"2026-08-27T01:47:37Z","sha256":"49081e01ac3fe2b9f1d14cb67ba56f938663f8c067736971971721d57b252f9b","source_id":"us-tx","stale":false,"prev":"us-tx/tex.-property-code-162.005","next":"us-tx/tex.-property-code-162.007"},"notice":"GroundRules: Original legal text. Not legal advice."}