Tex. Gov't Code Section 2257.110
Penalty Amount; Penalties Not Exclusive

(a)

The comptroller by rule shall adopt a formula for determining the amount of a penalty under this subchapter. For each violation and for each day of a continuing violation, a penalty must be at least $100 per day and not more than $1,000 per day. The penalty must be based on factors that include:

(1)

the aggregate average weekly deposit amounts during the state fiscal year of the institution’s deposits of public funds;

(2)

the number of violations by the institution during the state fiscal year;

(3)

the number of days of a continuing violation; and

(4)

the average asset base of the institution as reported on the institution’s year-end report of condition.

(b)

The penalties provided by Sections 2257.107-2257.109 are in addition to those provided by Subchapter D or other law.
Added by Acts 2009, 81st Leg., R.S., Ch. 486 (S.B. 638), Sec. 1, eff. September 1, 2009.

Source: Section 2257.110 — Penalty Amount; Penalties Not Exclusive, https://statutes.­capitol.­texas.­gov/Docs/GV/htm/GV.­2257.­htm#2257.­110 (accessed Apr. 20, 2024).

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Accessed:
Apr. 20, 2024

§ 2257.110’s source at texas​.gov