The comptroller may impose an administrative penalty against a participating institution that does not pay an assessment against it in the time provided by Section 2257.106(c).
Tex. Gov't Code § 2257.109
PENALTY FOR FAILURE TO PAY ASSESSMENT
Known as the Public Funds Collateral Act
The act spans §§ 2257.001 to 2257.114 (41 sections).
Added by Acts 2009, 81st Leg., R.S., Ch. 486 (S.B. 638), Sec. 1, eff
Official source: Texas Constitution and Statutes. Reproduced from public-domain Texas statutes; confirm against the official source for the current text. Not legal advice.