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Tex. Fin. Code § 89.102

GENERAL ADMINISTRATIVE PENALTY

Known as the Texas Savings and Loan Act

The act spans §§ 61–89 (217 sections).

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

(a) The commissioner may require an association that knowingly violates this subtitle or a rule adopted under this subtitle to pay to the Department of Savings and Mortgage Lending an administrative penalty not to exceed $1,000 for each day that the violation occurs after notice of the violation is given by the commissioner.

(b) On the commissioner's certification that an association has not paid a penalty assessed under this section, the attorney general may file suit to collect the penalty.

Official source: Texas Constitution and Statutes. Reproduced from public-domain Texas statutes; confirm against the official source for the current text. Not legal advice.