Texas Finance Code

§ 371.303 — ADMINISTRATIVE PENALTY

FI § 371.303Title 4. REGULATION OF INTEREST, LOANS, AND FINANCED TRANSACTIONS · Part C. PAWNSHOPS · Ch. 371. PAWNSHOPS · Art. G. ENFORCEMENT; PENALTIES

Statute text

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(a)The commissioner may assess an administrative penalty against a person who violates this chapter or a rule adopted under this chapter.

(b)The commissioner may assess the administrative penalty in an amount not to exceed $1,000.

(c)Each day a violation continues or occurs may be considered a separate violation for purposes of this section. The aggregate amount of penalties that may be assessed under this section against a person during one calendar year may not exceed $10,000 for violations an element of which occurred at the same business location.

(d)In determining the amount of a penalty, the commissioner shall consider:

(1)the seriousness of the violation, including the nature, circumstances, extent, and gravity of the prohibited act;

(2)the history of previous violations;

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Legislative history

Acts 2005, 79th Leg., Ch. 1018 (H.B. 955), Sec. 4.06, eff. September 1, 2005.