Section 140A.103 - [Renumbered from 140A.005] Constructive Trust(a) A person or enterprise that, through racketeering, acquires property or prevents another person from receiving property that by law is required to be transferred or paid to that person is an involuntary trustee. The involuntary trustee or any other person or enterprise, other than a bona fide purchaser for value as described by Subsection (b), holds the property and the proceeds of the property in constructive trust for the benefit of any person entitled to remedies under this chapter.(b) A bona fide purchaser for value who was reasonably without notice of unlawful conduct and who did not knowingly take part in an illegal transaction is not an involuntary trustee under Subsection (a) and is not subject to a constructive trust imposed under this chapter.Tex. Civ. Prac. and Rem. Code § 140A.103
Renumbered from Tex. Civ. Prac. and Rem. Code § 140A.005 by Acts 2017, Texas Acts of the 85th Leg. - Regular Session, ch. 685,Sec. 7, eff. 9/1/2017.Amended by Acts 2015, Texas Acts of the 84th Leg. - Regular Session, ch. 1236,Sec. 21.001, eff. 9/1/2015.Added by Acts 2013, 83rd Leg. - Regular Session, ch. 1066,Sec. 1, eff. 6/14/2013.