Tex. Ins. Code Section 84.050
Remittance of Penalty and Interest

(a)

If the person paid the administrative penalty and if the amount of the penalty is reduced or the penalty is not upheld by the court, the court shall order, when the judgment becomes final, that the appropriate amount plus accrued interest be remitted to the person.

(b)

The interest accrues at the rate charged on loans to depository institutions by the New York Federal Reserve Bank.

(c)

The interest shall be paid for the period beginning on the date the penalty is paid and ending on the date the penalty is remitted.
Added by Acts 1999, 76th Leg., ch. 101, Sec. 1, eff. Sept. 1, 1999.

Source: Section 84.050 — Remittance of Penalty and Interest, https://statutes.­capitol.­texas.­gov/Docs/IN/htm/IN.­84.­htm#84.­050 (accessed Apr. 20, 2024).

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Accessed:
Apr. 20, 2024

§ 84.050’s source at texas​.gov