Texas Finance Code

§ 35.010 — ADMINISTRATIVE PENALTY

FI § 35.010Title 3. FINANCIAL INSTITUTIONS AND BUSINESSES · Part A. BANKS · Ch. 35. ENFORCEMENT ACTIONS · Art. A. ENFORCEMENT ORDERS: BANKS AND MANAGEMENT

Statute text

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(a)The banking commissioner may initiate a proceeding for an administrative penalty against a bank or other person by serving on the bank or other person, as applicable, notice of the time and place of a hearing on the penalty. The hearing may not be held earlier than the 20th day after the date the notice is served. The notice must:

(1)be served by personal delivery or by registered or certified mail, return receipt requested;

(2)contain a statement of the conduct alleged to constitute a violation; and

(3)if the alleged violation is described by Section 35.009(a)(1) or (2), identify corrective action that the bank or other person must take to avoid or reduce the amount of a penalty that would otherwise be imposed under this section.

(b)In determining the amount of any penalty to be imposed, the banking commissioner shall consider the following factors:

(1)the financial resources of the bank or other person;

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Legislative history

Acts 2011, 82nd Leg., R.S., Ch. 183 (S.B. 1165), Sec. 6, eff. May 28, 2011. Acts 2019, 86th Leg., R.S., Ch. 652 (S.B. 1823), Sec. 5, eff. September 1, 2019.