Tex. Insurance Code § 84.050
This is the official text of Tex. Insurance Code § 84.050, part of Texas’s Insurance Code — regulates insurance companies and the policies they sell.
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§ 84.050. REMITTANCE OF PENALTY AND INTEREST.
Official statutory text
(a) If the person paid the administrative penalty and if the amount of the penalty is reduced or the penalty is not upheld by the court, the court shall order, when the judgment becomes final, that the appropriate amount plus accrued interest be remitted to the person.
(b) The interest accrues at the rate charged on loans to depository institutions by the New York Federal Reserve Bank.
(c) The interest shall be paid for the period beginning on the date the penalty is paid and ending on the date the penalty is remitted.
(b) The interest accrues at the rate charged on loans to depository institutions by the New York Federal Reserve Bank.
(c) The interest shall be paid for the period beginning on the date the penalty is paid and ending on the date the penalty is remitted.
Status: in_force · Read it on the official government site
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