Texas Statutes (Last Updated: January 4, 2014) |
PROPERTY CODE |
Title 5. EXEMPT PROPERTY AND LIENS |
Subtitle B. LIENS |
Chapter 53. MECHANIC'S, CONTRACTOR'S, OR MATERIALMAN'S LIEN |
Subchapter B. PERSONS ENTITLED TO LIEN; SUBJECT PROPERTY |
Sec. 53.024. LIMITATION ON SUBCONTRACTOR'S LIEN
Latest version.
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The amount of a lien claimed by a subcontractor may not exceed:
(1) an amount equal to the proportion of the total subcontract price that the sum of the labor performed, materials furnished, materials specially fabricated, reasonable overhead costs incurred, and proportionate profit margin bears to the total subcontract price; minus
(2) the sum of previous payments received by the claimant on the subcontract.
Acts 1983, 68th Leg., p. 3536, ch. 576, Sec. 1, eff. Jan. 1, 1984.