CONSTRUCTION TRUST FUND ACT - TRAPS FOR THE UNWARY
Surprisingly few contractors are familiar with the Texas Construction Trust Fund Act, Chapter 162 of the Texas Property Code. Considering the penalties that can be imposed for violating this statute, a contractor would be smart to understand and follow the requirements of this statute. What does the Texas Construction Fund Trust Act say? The Texas Construction Trust Fund Act states that payments made to a contractor or subcontractor or its officer, director, or agent under a