Tex. Gov't Code § 2257.062 · Subchapter D. AUDITS AND EXAMINATIONS; PENALTIES
PENALTIES.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) The comptroller may revoke a depository's designation as a state depository for one year if, after notice and a hearing, the comptroller makes a written finding that the depository, while acting as either a depository or a custodian:
(1) did not maintain reasonable compliance with this chapter; and
(2) failed to remedy a violation of this chapter within a reasonable time after receiving written notice of the violation.
(b) The comptroller may permanently revoke a depository's designation as a state depository if the comptroller makes a written finding that the depository:
(1) has not maintained reasonable compliance with this chapter; and
(2) has acted in bad faith by not remedying a violation of this chapter.
Notes and commentary — not statutory text
History
Added by Acts 1993, 73rd Leg., ch. 268, Sec. 1, eff. Sept. 1, 1993. Amended by Acts 1997, 75th Leg., ch. 891, Sec. 3.19, eff. Sept. 1, 1997.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/GV/htm/GV.2257.htm
- Text hash
- sha256 1fd2b7fb4baba8483dbe7e954cdbf4f83ddea7ffe92a9a41334d88d62ea08cd2
- Composed by
- compose_tx.py 2026-10-05: the Legislative Council's chapter files read in document order; verify_tx.py's independent reading (lxml DOM walk) agrees character for character
Cited by 1 provision
Provisions in this library whose text cites Tex. Gov't Code § 2257.062. Each shows the citation as that text prints it.
Procedural information only. Not legal advice and not a substitute for the advice of an attorney. Confirm the current text with the official publisher before relying on it.