Texas Finance Code

§ 66.109 — ENFORCEMENT OF SUPERVISORY ORDER

FI § 66.109Title 3. FINANCIAL INSTITUTIONS AND BUSINESSES · Part B. SAVINGS AND LOAN ASSOCIATIONS · Ch. 66. ENFORCEMENT AND REGULATION · Art. C. SUPERVISORY INTERVENTION

Statute text

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(a)The commissioner, after giving notice, may assess against an association or another person designated in a final supervisory order who violates the order, or both, an administrative penalty of not more than $1,000 each for each day of the violation. The association may not reimburse or indemnify a person for any part of the penalty.

(b)In addition to any other remedy provided by law, the commissioner may institute in a district court in Travis County:

(1)a suit for injunctive relief to stop or prevent a violation of a supervisory order; or

(2)a suit for injunctive relief and to collect the administrative penalty.

(c)A bond is not required of the commissioner with respect to injunctive relief granted under this section.

Legislative history

Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.