Texas Finance Code
§ 159.151 — MONEY HELD IN TRUST
FI § 159.151Title 3. FINANCIAL INSTITUTIONS AND BUSINESSES · Part E. OTHER FINANCIAL BUSINESSES · Ch. 159. WRAP MORTGAGE LOAN FINANCING · Art. D. DUTIES OWED TO WRAP BORROWER
Statute text
View on sourceA person who collects or receives a payment from a wrap borrower under the terms of a wrap mortgage loan holds the money in trust for the benefit of the borrower.
Legislative history
Added by Acts 2021, 87th Leg., R.S., Ch. 76 (S.B. 43), Sec. 3, eff. January 1, 2022.