Payments to be held in trust by prime contractor

Any sums received by the prime contractor as payment for work, services, equipment, and materials supplied by the remote contractor for improvements to real property must be held by the prime contractor in trust for the benefit and use of the remote contractor, and are subject to all legal and equitable remedies. Amended by 2020 Tenn. Acts, ch. 749, s 26, eff. 7/1/2020. Acts 1991, ch. 45, § 1. Any sums received by the prime contractor as payment for work, services, equipment, and materials supplied by the remote contractor for improvements to real property must be held by the prime contractor in trust for the benefit and use of the remote contractor, and are subject to all legal and equitable remedies. Amended by 2020 Tenn. Acts, ch. 749, s 26, eff. 7/1/2020. Acts 1991, ch. 45, § 1.