Texas Finance Code

§ 180.202 — ADMINISTRATIVE PENALTY

FI § 180.202Title 3. FINANCIAL INSTITUTIONS AND BUSINESSES · Part E. OTHER FINANCIAL BUSINESSES · Ch. 180. RESIDENTIAL MORTGAGE LOAN ORIGINATORS · Art. E. ENFORCEMENT PROVISIONS

Statute text

View on source

(a)A regulatory official may impose an administrative penalty on a residential mortgage loan originator or other person subject to regulation under this chapter, if the official, after notice and opportunity for hearing, determines that the residential mortgage loan originator or other person subject to regulation under this chapter has violated or failed to comply with:

(1)this chapter;

(2)a rule adopted under this chapter; or

(3)an order issued under this chapter.

(b)The penalty may not exceed $25,000 for each violation.

(c)The amount of the penalty shall be based on:

…

Legislative history

Added by Acts 2009, 81st Leg., R.S., Ch. 1104 (H.B. 10), Sec. 1, eff. June 19, 2009.