Sec. 162.002. CONTRACTORS AS TRUSTEES. 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 or direction of trust funds, is a trustee of the trust funds.
Acts 1983, 68th Leg., p. 3721, ch. 576, Sec. 1, eff. Jan. 1, 1984.
Structure Texas Statutes
Title 10 - Miscellaneous Beneficial Property Interests
Chapter 162 - Construction Payments, Loan Receipts, and Misapplication of Trust Funds
Subchapter A. Construction Payments and Loan Receipts
Section 162.001. Construction Payments and Loan Receipts as Trust Funds
Section 162.002. Contractors as Trustees
Section 162.003. Beneficiaries of Trust Funds
Section 162.006. Construction Account Required in Certain Circumstances