Tex. Prop. Code § 162.002 : PROPERTY CODE — MISCELLANEOUS BENEFICIAL PROPERTY INTERESTS — FIDUCIARIES — CONSTRUCTION PAYMENTS, LOAN RECEIPTS, AND MISAPPLICATION OF TRUST FUNDS — CONSTRUCTION PAYMENTS AND LOAN RECEIPTS — Contractors As Trustees
A contractor, subcontractor, or owner or an officer, director, or agent of a contractor, subcontractor, or owner, who receives trust funds or who has control or direction of trust funds, is a trustee of the trust funds.
Tex. Prop. Code § 162.002
Acts 1983, 68th Leg., p. 3721, ch. 576, Sec. 1, eff. 1/1/1984.