Texas Health and Safety Code 246.072 – Return of Deposits; Release or Return of Entrance Fee
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(a) On a written request from or on behalf of the provider or a prospective resident, the escrow agent shall return the amount on deposit to the person who paid the deposit or shall maintain the deposit as an entrance fee in the entrance fee escrow account.
(b) Unless the escrow agent receives a written request from or on behalf of a provider or a resident for the return of an entrance fee under § 246.056, the agent shall release the fee to the provider or place the fee in a loan reserve fund escrow.
Terms Used In Texas Health and Safety Code 246.072
- Escrow: Money given to a third party to be held for payment until certain conditions are met.
- Person: includes corporation, organization, government or governmental subdivision or agency, business trust, estate, trust, partnership, association, and any other legal entity. See Texas Government Code 311.005
- Written: includes any representation of words, letters, symbols, or figures. See Texas Government Code 311.005