Tex. Prop. Code Section 162.006
Construction Account Required in Certain Circumstances

(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.

Source: Section 162.006 — Construction Account Required in Certain Circumstances, https://statutes.­capitol.­texas.­gov/Docs/PR/htm/PR.­162.­htm#162.­006 (accessed Jun. 5, 2024).

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Accessed:
Jun. 5, 2024

§ 162.006’s source at texas​.gov