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Current as of January 01, 2024 | Updated by FindLaw Staff
(a) If, after judicial review, the administrative penalty is reduced or not imposed, the executive director shall:
(1) remit to the person the appropriate amount, plus accrued interest, if the person paid the amount of the penalty; or
(2) execute a release of the bond, if the person posted a supersedeas bond.
(b) The interest paid under Subsection (a)(1) is accrued at the rate charged on loans to depository institutions by the New York Federal Reserve Bank. The interest shall be paid for the period beginning on the date the penalty is paid to the department and ending on the date the penalty is remitted.
Cite this article: FindLaw.com - Texas Occupations Code - OCC § 51.309. Remittance of Penalty and Interest - last updated January 01, 2024 | https://codes.findlaw.com/tx/occupations-code/occ-sect-51-309/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature or via Westlaw before relying on it for your legal needs.
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