Texas Finance Code
§ 152.407 — ADMINISTRATIVE PENALTY
FI § 152.407Title 3. FINANCIAL INSTITUTIONS AND BUSINESSES · Part E. OTHER FINANCIAL BUSINESSES · Ch. 152. REGULATION OF MONEY SERVICES BUSINESSES · Art. I. ENFORCEMENT
Statute text
View on source(a)After notice and hearing, the commissioner may assess an administrative penalty against a person who:
(1)has violated this chapter or a rule adopted or order issued under this chapter and has failed to correct the violation not later than the 30th day after the date the department sends written notice of the violation to the person;
(2)if the person is a money services licensee, has engaged in conduct described by Section 152.403;
(3)has engaged in a pattern of violations; or
(4)has demonstrated wilful disregard for the requirements of this chapter, the rules adopted under this chapter, or an order issued under this chapter.
(b)A violation corrected after a person receives written notice from the department of the violation may be considered for purposes of determining whether a person has engaged in a pattern of violations under Subsection (a)(3) or demonstrated wilful disregard under Subsection (a)(4).
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Legislative history
Added by Acts 2023, 88th Leg., R.S., Ch. 277 (S.B. 895), Sec. 1.01, eff. September 1, 2023.