Texas § AG.147.005 - DEPOSIT OF PROCEEDS IN DISPUTE
Full text of Texas The Texas Constitution § AG.147.005 — DEPOSIT OF PROCEEDS IN DISPUTE, with citation guidance and answers to common questions.
§ AG.147.005. DEPOSIT OF PROCEEDS IN DISPUTE
DEPOSIT OF PROCEEDS IN DISPUTE. (a) If the proceeds of a sale of livestock by a commission merchant become involved in a dispute between contending claimants, or if the commission merchant is notified that a person other than the person who consigned the livestock asserts a right to the proceeds, the commission merchant shall deposit the net proceeds of the sale in a state or national bank in the city or county of the commission merchant's principal place of business. (b) The commission merchant shall promptly notify all interested parties of the deposit of proceeds in a bank under Subsection (a) of this section. (c) Following the deposit of the proceeds and the giving of notice under this section, neither the commission merchant nor the bond of the commission merchant is liable for those funds. Acts 1981, 67th Leg., p. 1379, ch. 388, Sec. 1, eff. Sept. 1, 1981. SUBCHAPTER B. BOND
Source: official Texas text · Last verified 2026-08-27
Frequently Asked Questions About Texas § AG.147.005
What does The Texas Constitution § AG.147.005 cover?
Section AG.147.005 ("DEPOSIT OF PROCEEDS IN DISPUTE") is part of the The Texas Constitution, the codified statutory law of Texas. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Texas § AG.147.005?
A common citation format is "The Texas Constitution § AG.147.005" (Texas). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Texas law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Texas official source linked on this page or consult a licensed Texas attorney.
How does Texas § AG.147.005 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Texas can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Texas.