Texas § PR.162.007 - MANAGEMENT OF CONSTRUCTION ACCOUNTS
Full text of Texas The Texas Constitution § PR.162.007 — MANAGEMENT OF CONSTRUCTION ACCOUNTS, with citation guidance and answers to common questions.
§ PR.162.007. MANAGEMENT OF CONSTRUCTION ACCOUNTS
MANAGEMENT OF CONSTRUCTION ACCOUNTS. (a) A contractor required to maintain a construction account under this subchapter shall maintain an account record for the construction account that provides information relating to: (1) the source and amount of the funds in the account and the date the funds were deposited; (2) the date and amount of each disbursement from the account and the person to whom the funds were disbursed; and (3) the current balance of the account. (b) The contractor shall maintain an account record for each construction project that specifies the direct costs and indirect costs charged to the owner. (c) The contractor shall retain all invoices and other supporting documentation received relating to funds that were disbursed from the construction account. (d) The contractor shall ensure that all deposit and disbursement documentation includes the construction account number or information that provides a direct connection between the documentation and the account. (e) The contractor may not destroy information required to be maintained under this section before the first anniversary of the date the improvement that is the subject of the contract is completed. Added by Acts 1997, 75th Leg., ch. 1018, Sec. 4, eff. Sept. 1, 1997. SUBCHAPTER B. MISAPPLICATION OF TRUST FUNDS
Source: official Texas text · Last verified 2026-08-27
Frequently Asked Questions About Texas § PR.162.007
What does The Texas Constitution § PR.162.007 cover?
Section PR.162.007 ("MANAGEMENT OF CONSTRUCTION ACCOUNTS") 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 § PR.162.007?
A common citation format is "The Texas Constitution § PR.162.007" (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 § PR.162.007 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.