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Texas Government Code - GOV'T § 2257.110. Penalty Amount; Penalties Not Exclusive

Current as of January 01, 2024 | Updated by Findlaw Staff

(a) The comptroller by rule shall adopt a formula for determining the amount of a penalty under this subchapter. For each violation and for each day of a continuing violation, a penalty must be at least $100 per day and not more than $1,000 per day. The penalty must be based on factors that include:

(1) the aggregate average weekly deposit amounts during the state fiscal year of the institution's deposits of public funds;

(2) the number of violations by the institution during the state fiscal year;

(3) the number of days of a continuing violation; and

(4) the average asset base of the institution as reported on the institution's year-end report of condition.

(b) The penalties provided by Sections 2257.107-2257.109 are in addition to those provided by Subchapter D or other law.

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Cite this article: FindLaw.com - Texas Government Code - GOV'T § 2257.110. Penalty Amount; Penalties Not Exclusive - last updated January 01, 2024 | https://codes.findlaw.com/tx/government-code/gov-t-sect-2257-110/

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