Tex. Health & Safety Code § 246.071 · Subchapter D. ENTRANCE FEE AND RESERVE FUND ESCROW ACCOUNTS
ENTRANCE FEE ESCROW ACCOUNT; ESCROW AGENT.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) If a provider accepts the payment of a deposit made under a reservation agreement or any portion of an entrance fee before the date the prospective resident may occupy a living unit, the provider must establish an entrance fee escrow account with a bank or trust company, as escrow agent, that is located in this state.
(b) The provider shall deposit with the escrow agent any deposit or any portion of an entrance fee received by the provider not later than 72 hours after the provider receives the deposit or fee.
Notes and commentary — not statutory text
History
Acts 1989, 71st Leg., ch. 678, Sec. 1, eff. Sept. 1, 1989. Amended by Acts 1993, 73rd Leg., ch. 953, Sec. 7, eff. Sept. 1, 1993.
Amended by:
Acts 2025, 89th Leg., R.S., Ch. 836 (S.B. 1522), Sec. 9, eff. January 1, 2026.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/HS/htm/HS.246.htm
- Text hash
- sha256 a6cb7f73b7f21a85f8ebfe00ad5f700764c1a0d570a38107bd6a4fc2c17db1cb
- Composed by
- compose_tx.py 2026-10-05: the Legislative Council's chapter files read in document order; verify_tx.py's independent reading (lxml DOM walk) agrees character for character
Cited by 1 provision
Provisions in this library whose text cites Tex. Health & Safety Code § 246.071. Each shows the citation as that text prints it.
Procedural information only. Not legal advice and not a substitute for the advice of an attorney. Confirm the current text with the official publisher before relying on it.