Tex. Gov't Code Section 2257.063
Mitigating Circumstances

(a)

The comptroller shall consider the total circumstances relating to the performance of a depository or custodian when the comptroller makes a finding required by Section 2257.062 (Penalties), including the extent to which the noncompliance is minor, isolated, temporary, or nonrecurrent.

(b)

The comptroller may not find that a depository or custodian did not maintain reasonable compliance with this chapter if the noncompliance results from the public entity’s failure to comply with Section 2257.026 (Change in Amount or Activity of Deposits of Public Funds).

(c)

This section does not relieve a depository or custodian of the obligation to secure a deposit of public funds with eligible security in the amount and manner required by this chapter within a reasonable time after the public entity deposits the deposit of public funds with the depository.

Added by Acts 1993, 73rd Leg., ch. 268, Sec. 1, eff. Sept. 1, 1993. Amended by Acts 1997, 75th Leg., ch. 891, Sec. 3.19, eff. Sept. 1, 1997.

Source: Section 2257.063 — Mitigating Circumstances, https://statutes.capitol.texas.gov/Docs/GV/htm/GV.2257.htm#2257.063 (accessed Jun. 5, 2024).

2257.001
Short Title 2257.002
Definitions 2257.003
Chapter Not Applicable to Deferred Compensation Plans 2257.004
Conflict with Other Law 2257.005
Contract Governs Legal Action 2257.021
Collateral Required 2257.022
Amount of Collateral 2257.023
Collateral Policy 2257.024
Contract for Securing Deposit of Public Funds 2257.0025
High-risk Mortgage Security 2257.025
Records of Depository 2257.026
Change in Amount or Activity of Deposits of Public Funds 2257.041
Deposit of Securities with Custodian 2257.042
Deposit of Securities with Permitted Institution 2257.043
Depository as Custodian or Permitted Institution 2257.044
Custodian as Bailee 2257.045
Receipt of Security by Custodian 2257.046
Books and Records of Custodian 2257.047
Books and Records of Permitted Institution 2257.048
Attachment and Perfection of Security Interest 2257.061
Audits and Examinations 2257.062
Penalties 2257.063
Mitigating Circumstances 2257.064
Reinstatement 2257.081
Definition 2257.082
Funds of Exempt Institution 2257.083
Investment 2257.101
Definition 2257.102
Pooled Collateral Program 2257.103
Participation in Pooled Collateral Program 2257.104
Collateral Required 2257.105
Monitoring Collateral 2257.106
Annual Assessment 2257.107
Penalty for Reporting Violation 2257.108
Notice of Collateral Violation 2257.109
Penalty for Failure to Pay Assessment 2257.110
Penalty Amount 2257.111
Penalty Proceeding Contested Case 2257.112
Suit to Collect Penalty 2257.113
Enforcement Stayed Pending Review 2257.114
Use of Collected Penalties

Accessed:
Jun. 5, 2024

§ 2257.063’s source at texas.gov

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Location: https://texas.public.law/statutes/tex._gov't_code_section_2257.063

Original Source: Section 2257.063 — Mitigating Circumstances, https://statutes.capitol.texas.gov/Docs/GV/htm/GV.2257.htm#2257.063 (last accessed Jun. 5, 2024).