Plain English summary not yet available
The full original text is available below. Check back soon as we process this bill.
  89R7916 PRL-F     By: Johnson S.B. No. 1615       A BILL TO BE ENTITLED   AN ACT   relating to the application of funds under construction contracts.          BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:          SECTION 1.  Section 162.031, Property Code, is amended by   adding Subsection (a-1) to read as follows:           (a-1)     A trustee who retains or otherwise diverts trust funds   due to a dispute, including an alleged default, arising under a   construction contract other than the contract in connection with   which the trust funds were received by or placed under the control   or direction of the trustee has misapplied the trust funds.          SECTION 2.  The changes in law made by this Act apply only to   a contract that is entered into on or after the effective date of   this Act.          SECTION 3.  This Act takes effect September 1, 2025.