Section 147.004 - Remittance of Sale Proceeds(a) Within 48 hours after the sale of consigned livestock, a commission merchant shall: (1) remit the net proceeds of the sale to each person entitled to receive those proceeds or to another person to whom the person directs that the proceeds be paid; or(2) if requested by a person, deposit the proceeds due that person to the credit of that person in a state or national bank in the city or county of the commission merchant's principal place of business.(b) In calculating the time allowed for remittance of proceeds under this section by a livestock commission merchant, Sundays, holidays, and the day of sale are excluded. In calculating the time allowed for remittance of proceeds under this section by a livestock auction commission merchant, Sundays, holidays, and the day of sale are included.Tex. Agric. Code § 147.004
Acts 1981, 67th Leg., p. 1379, ch. 388, Sec. 1, eff. 9/1/1981.