Texas Insurance Code

§ 84.022 — PENALTY AMOUNT

IN § 84.022Title 2. TEXAS DEPARTMENT OF INSURANCE · Part B. DISCIPLINE AND ENFORCEMENT · Ch. 84. ADMINISTRATIVE PENALTIES · Art. B. IMPOSITION OF ADMINISTRATIVE PENALTY

Statute text

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(a)The penalty for a violation may not exceed $25,000, unless a greater or lesser penalty is specified by this code or another insurance law of this state.

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

(1)the seriousness of the violation, including:

(A)the nature, circumstances, extent, and gravity of the violation; and

(B)the hazard or potential hazard created to the health, safety, or economic welfare of the public;

(2)the economic harm to the public interest or public confidence caused by the violation;

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Legislative history

Added by Acts 1999, 76th Leg., ch. 101, Sec. 1, eff. Sept. 1, 1999.