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Texas Health and Safety Code

§ 246.071 — ENTRANCE FEE ESCROW ACCOUNT; ESCROW AGENT

HS § 246.071Title 4. HEALTH FACILITIES · Part B. LICENSING OF HEALTH FACILITIES · Ch. 246. CONTINUING CARE FACILITIES · Art. D. ENTRANCE FEE AND RESERVE FUND ESCROW ACCOUNTS

Statute text

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(a)If a provider accepts the payment of a deposit made under a reservation agreement or any portion of an entrance fee before the date the prospective resident may occupy a living unit, the provider must establish an entrance fee escrow account with a bank or trust company, as escrow agent, that is located in this state.
(b)The provider shall deposit with the escrow agent any deposit or any portion of an entrance fee received by the provider not later than 72 hours after the provider receives the deposit or fee. Acts 1989, 71st Leg., ch. 678, Sec. 1, eff. Sept. 1, 1989. Amended by Acts 1993, 73rd Leg., ch. 953, Sec. 7, eff. Sept. 1, 1993. Amended by:

Legislative history

Acts 2025, 89th Leg., R.S., Ch. 836 (S.B. 1522), Sec. 9, eff. January 1, 2026.

Source: Texas Health and Safety Code § 246.071 from the Texas Constitution and Statutes (Texas Legislature) (public record). DecisionDepot is for informational use only and is not legal advice — verify against the official source before relying on this text.