(a) The department shall give notice of the findings made under Section 103.015(d) to the person charged with a violation. If the department finds that a violation has occurred, the department shall give to the person charged written notice of:
(1) the findings;
(2) the amount of the administrative penalty;
(3) the rate of interest payable with respect to the penalty and the date on which interest begins to accrue; and
(4) the person's right to judicial review of the department's order.
(b) Not later than the 30th day after the date on which the department's order is final, the person assessed the penalty shall:
(1) pay the full amount of the penalty; or
(2) file a petition for judicial review contesting the occurrence of the violation, the amount of the penalty, or both the occurrence of the violation and the amount of the penalty.
(c) Notwithstanding Subsection (b), the department may permit the person to pay a penalty in installments.
(d) If the person does not pay the penalty within the period provided by Subsection (b) or in accordance with Subsection (c), if applicable:
(1) the penalty is subject to interest; and
(2) the department may refer the matter to the attorney general for collection of the penalty and interest.
(e) Interest under Subsection (d)(1) accrues:
(1) at a rate equal to the rate charged on loans to depository institutions by the New York Federal Reserve Bank; and
(2) for the period beginning on the day after the date on which the penalty becomes due and ending on the date the penalty is paid.
(f) If the amount of the penalty is reduced or the assessment of a penalty is not upheld on judicial review, the department shall:
(1) remit to the person charged the appropriate amount of any penalty payment plus accrued interest; or
(2) execute a release of the supersedeas bond if one has been posted.
(g) Accrued interest on the amount remitted by the department under Subsection (f)(1) shall be paid:
(1) at a rate equal to the rate charged on loans to depository institutions by the New York Federal Reserve Bank; and
(2) for the period beginning on the date the penalty is paid and ending on the date the penalty is remitted to the person charged with the violation.