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Texas Property Code - Chapter 162 Construction Payments, Loan Receipts, And Misapplication Of Trust FundsLegal Research Home > Texas Lawyer > Property Code > Texas Property Code - Chapter 162 Construction Payments, Loan Receipts, And Misapplication Of Trust Funds (a) Construction payments are trust funds under this chapter if the payments are made to a contractor or subcontractor or to an officer, director, or ... A contractor, subcontractor, or owner or an officer, director, or agent of a contractor, subcontractor, or owner, who receives trust funds or who has control ... 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 ... (a) This chapter does not apply to: (1) a bank, savings and loan, or other lender; (2) a title company or other closing agent; or ... In this chapter: (1) A trustee acts with "intent to defraud" when the trustee: (A) retains, uses, disburses, or diverts trust funds with the intent ... (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 ... (a) A contractor required to maintain a construction account under this subchapter shall maintain an account record for the construction account that provides information relating ... (a) A trustee who, intentionally or knowingly or with intent to defraud, directly or indirectly retains, uses, disburses, or otherwise diverts trust funds without first ... (a) A trustee who misapplies trust funds amounting to $500 or more in violation of this chapter commits a Class A misdemeanor. (b) A trustee ... If the misapplication of trust funds by a trustee constitutes another offense punishable under the laws of this state, the state may elect the offense ... Last modified: August 10, 2007 |