Tex. Property Code § 74.706
This is the official text of Tex. Property Code § 74.706, part of Texas’s Property Code — governs real property, landlord-tenant law, and property transactions.
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§ 74.706. PENALTY.
Official statutory text
(a) A penalty equal to five percent of the value of the property due shall be imposed on a holder who fails to pay or deliver property within the time prescribed by this chapter. If a holder fails to pay or deliver property before the 31st day after the date the property is due, an additional penalty equal to five percent of the value of the property due shall be imposed.
(b) For purposes of Subsection (a), "holder" does not include a local governmental entity or an officer or employee of a local governmental entity who is performing the officer's or employee's official duties for the local governmental entity.
(b) For purposes of Subsection (a), "holder" does not include a local governmental entity or an officer or employee of a local governmental entity who is performing the officer's or employee's official duties for the local governmental entity.
Status: in_force · Read it on the official government site
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