Texas § OC.702.352 - ESCROW DEPOSIT REQUIRED
Full text of Texas The Texas Constitution § OC.702.352 — ESCROW DEPOSIT REQUIRED, with citation guidance and answers to common questions.
§ OC.702.352. ESCROW DEPOSIT REQUIRED
ESCROW DEPOSIT REQUIRED. (a) A certificate holder or an assignee or agent of a certificate holder who accepts a prepayment for a membership in the certificate holder's health spa shall deposit the prepayment in an escrow account established with a financial institution insured by the Federal Deposit Insurance Corporation. (b) A person required to make a deposit under Subsection (a) shall: (1) not later than the 14th day after the date the person first accepts a prepayment: (A) deposit the prepayments received; and (B) submit to the secretary of state: (i) a notarized statement that identifies the financial institution and the name in which the escrow account is held; and (ii) a signed statement on a form approved by the secretary of state that authorizes the secretary to direct inquiries to the financial institution regarding the escrow account; and (2) after the first deposit is made under this section, deposit subsequent prepayments not less frequently than biweekly. (c) A certificate holder shall maintain an escrow account under this section until the 30th day after the date the certificate holder's health spa opens. Acts 1999, 76th Leg., ch. 388, Sec. 1, eff. Sept. 1, 1999.
Frequently Asked Questions About Texas § OC.702.352
What does The Texas Constitution § OC.702.352 cover?
Section OC.702.352 ("ESCROW DEPOSIT REQUIRED") 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 § OC.702.352?
A common citation format is "The Texas Constitution § OC.702.352" (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 § OC.702.352 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.