Tex. Prop. Code § 162.003 · Subchapter A. CONSTRUCTION PAYMENTS AND LOAN RECEIPTS
BENEFICIARIES OF TRUST FUNDS.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) A person who is an artisan, laborer, mechanic, contractor, subcontractor, or materialman who labors or who furnishes labor or material for the construction or repair of an improvement on specific real property in this state, or that person's qualified assignee under Section 162.0031, is a beneficiary of any trust funds paid or received in connection with the improvement.
(b) A property owner is a beneficiary of trust funds described by Section 162.001 in connection with a residential construction contract, including funds deposited into a construction account described by Section 162.006.
Notes and commentary — not statutory text
History
Acts 1983, 68th Leg., p. 3721, ch. 576, Sec. 1, eff. Jan. 1, 1984. Amended by Acts 1997, 75th Leg., ch. 1018, Sec. 2, eff. Sept. 1, 1997.
Amended by:
Acts 2009, 81st Leg., R.S., Ch. 1277 (H.B. 1513), Sec. 3, eff. September 1, 2009.
Acts 2025, 89th Leg., R.S., Ch. 485 (S.B. 841), Sec. 1, eff. September 1, 2025.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/PR/htm/PR.162.htm
- Text hash
- sha256 55d3770545188b08828c353c3b5c60709e47fddadc6b2ab21936f0da57e0b1de
- 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
This section cites
Provisions in this library that the text above cites, as it prints each citation. A range cited as “ss. 61.13-61.16” links its first and last provisions.
Property Code
- Tex. Prop. Code § 162.001CONSTRUCTION PAYMENTS AND LOAN RECEIPTS AS TRUST FUNDS.Printed as Section 162.001
- Tex. Prop. Code § 162.0031BENEFICIARY'S ASSIGNMENT OF INTEREST IN UNPAID TRUST FUNDS.Printed as Section 162.0031
- Tex. Prop. Code § 162.006CONSTRUCTION ACCOUNT REQUIRED IN CERTAIN CIRCUMSTANCES.Printed as Section 162.006
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.