Texas Statutes (Last Updated: January 4, 2014) |
FINANCE CODE |
Title 3. FINANCIAL INSTITUTIONS AND BUSINESSES |
Subtitle A. BANKS |
Chapter 35. ENFORCEMENT ACTIONS |
Subchapter C. UNAUTHORIZED ACTIVITY: INVESTIGATION AND ENFORCEMENT |
Sec. 35.213. JUDICIAL REVIEW OF ADMINISTRATIVE PENALTY
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(a) If on judicial review the court sustains the penalty order, the court shall order the person to pay the full amount of the penalty or a lower amount determined by the court. If the court does not sustain the order, a penalty is not owed.
(b) When the judgment of the court becomes final, if the person paid the amount of the penalty and if that amount is reduced or is not upheld by the court, the court shall order that the appropriate amount plus accrued interest computed at the annual rate of 10 percent be remitted by the department. The interest shall be paid for the period beginning on the date the penalty was paid and ending on the date the penalty is remitted. If the person gave a supersedeas bond and if the amount of the penalty is not upheld by the court, the court shall order the release of the bond. If the person gave a supersedeas bond and if the amount of the penalty is reduced, the court shall order the release of the bond after the person pays the amount owed.
(c) If the judgment of the court requires payment of a penalty that has not previously been paid, the court shall order as part of its judgment that interest accrues on the penalty at the annual rate of 10 percent, beginning on the date the judgment is final and ending on the date the penalty and interest are paid.