Tex. Finance Code § 154.406
This is the official text of Tex. Finance Code § 154.406, part of Texas’s Finance Code — regulates banks and other financial institutions.
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§ 154.406. ADMINISTRATIVE PENALTY.
Official statutory text
(a) After notice and opportunity for hearing, the commissioner may impose an administrative penalty on a person who:
(1) violates this chapter or a final order of the commissioner or rule of the commission and does not correct the violation before the 31st day after the date the person receives written notice of the violation from the department; or
(2) engages in a pattern of violations, as determined by the commissioner.
(b) The amount of the penalty for each violation may not exceed $1,000 for each day the violation occurs.
(c) In determining the amount of the penalty, the commissioner shall consider the seriousness of the violation, the person's history of violations, and the person's good faith in attempting to comply with this chapter.
(d) The imposition of a penalty under this section is subject to judicial review as a contested case under Chapter 2001, Government Code.
(e) The commissioner may collect the penalty in the same manner that a money judgment is enforced in district court.
(1) violates this chapter or a final order of the commissioner or rule of the commission and does not correct the violation before the 31st day after the date the person receives written notice of the violation from the department; or
(2) engages in a pattern of violations, as determined by the commissioner.
(b) The amount of the penalty for each violation may not exceed $1,000 for each day the violation occurs.
(c) In determining the amount of the penalty, the commissioner shall consider the seriousness of the violation, the person's history of violations, and the person's good faith in attempting to comply with this chapter.
(d) The imposition of a penalty under this section is subject to judicial review as a contested case under Chapter 2001, Government Code.
(e) The commissioner may collect the penalty in the same manner that a money judgment is enforced in district court.
Status: in_force · Read it on the official government site
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