Tex. Prop. Code § 162.006 · Subchapter A. CONSTRUCTION PAYMENTS AND LOAN RECEIPTS
CONSTRUCTION ACCOUNT REQUIRED IN CERTAIN CIRCUMSTANCES.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(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.
Notes and commentary — not statutory text
History
Added by Acts 1997, 75th Leg., ch. 1018, Sec. 4, eff. Sept. 1, 1997.
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 a775f09fd86dee09530aba4418791b7cf2703143a2179a4ca514f81aab53e13b
- 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 4 provisions
Provisions in this library whose text cites Tex. Prop. Code § 162.006. Each shows the citation as that text prints it.
Property Code
- Tex. Prop. Code § 162.001CONSTRUCTION PAYMENTS AND LOAN RECEIPTS AS TRUST FUNDS.Printed as Section 162.006
- Tex. Prop. Code § 162.003BENEFICIARIES OF TRUST FUNDS.Printed as Section 162.006
- Tex. Prop. Code § 162.005DEFINITIONS.Printed as Section 162.006
- Tex. Prop. Code § 162.032PENALTIES.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.