SB 480, 60th R.S.
Relating to declaring construction payments and loan receipts to be trust funds; defining wrongful disbursement and misapplication of trust funds as a misdemeanor and felony and attaching a penalty; making the Texas Trust Act inapplicable and the application of the Act inapplicable to bonded jobs, closing agents and lending institutions.
Author: James Powell Word
Subjects:
CONTRACTORS & SUBCONTRACTORS
Property Interests--Mortgages & Liens
Property Interests--Real Property
TRUSTS
The Legislative Archive System is a work in progress. Complete information is not available for all bills and all sessions. Visit the Legislative Archive System status page for details. Please contact the Legislative Reference Library at 512-463-1252 if you have any questions.
Information on this website is provided as a public service by the Legislative Reference Library. The Legislative Reference Library makes no representation as to its completeness or accuracy and makes no warranty in regard to its use. Users assume all risk of reliance on the information included on this site.