Texas Finance Code

§ 119.201 — ADMINISTRATIVE PENALTY FOR FAILING TO COMPLY WITH SUBTITLE

FI § 119.201Title 3. FINANCIAL INSTITUTIONS AND BUSINESSES · Part C. SAVINGS BANKS · Ch. 119. MISCELLANEOUS PROVISIONS APPLICABLE TO SAVINGS BANKS · Art. C. OFFENSES AND PENALTIES

Statute text

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(a)The commissioner may require a savings bank that knowingly violates this subtitle or a rule adopted under this subtitle to pay to the Department of Savings and Mortgage Lending an administrative penalty not to exceed $10,000 for each day that the violation occurs after notice of the violation is given by the commissioner.

(b)On the commissioner's certification that a savings bank has not paid a penalty assessed under this section, the attorney general may file suit to collect the penalty. Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997. Amended by:

Legislative history

Acts 2005, 79th Leg., Ch. 1018 (H.B. 955), Sec. 3.04, eff. September 1, 2005. Acts 2007, 80th Leg., R.S., Ch. 921 (H.B. 3167), Sec. 6.051, eff. September 1, 2007.