Tex. Finance Code § 122.260
This is the official text of Tex. Finance Code § 122.260, part of Texas’s Finance Code — regulates banks and other financial institutions.
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§ 122.260. ADMINISTRATIVE PENALTY; INJUNCTION.
Official statutory text
(a) If a credit union or other person designated in a final order under this subchapter does not comply with the order, the commissioner, after giving notice, may assess an administrative penalty against the credit union, the designated person, or both, in an amount of not less than $100 or more than $10,000 each for each day of the violation of the order.
(b) The credit union may not reimburse or indemnify a person for any part of the administrative penalty.
(c) The commissioner may bring suit for injunction or to collect the administrative penalty in a district court of Travis County. In the suit, a certificate by the commissioner showing a failure to pay an administrative penalty is prima facie evidence of:
(1) the imposition of the penalty or the delinquency of the stated penalty amount; and
(2) compliance by the department with the law relating to the computation and imposition of the penalty.
(d) The attorney general is entitled to recover reasonable attorney's fees from the credit union or the designated person, or both, if the attorney general prevails in a judicial action necessary for collection of the administrative penalty.
(b) The credit union may not reimburse or indemnify a person for any part of the administrative penalty.
(c) The commissioner may bring suit for injunction or to collect the administrative penalty in a district court of Travis County. In the suit, a certificate by the commissioner showing a failure to pay an administrative penalty is prima facie evidence of:
(1) the imposition of the penalty or the delinquency of the stated penalty amount; and
(2) compliance by the department with the law relating to the computation and imposition of the penalty.
(d) The attorney general is entitled to recover reasonable attorney's fees from the credit union or the designated person, or both, if the attorney general prevails in a judicial action necessary for collection of the administrative penalty.
Status: in_force · Read it on the official government site
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