Tex. Gov't Code § 2257.110 · Subchapter F. POOLED COLLATERAL TO SECURE DEPOSITS OF CERTAIN PUBLIC FUNDS
PENALTY AMOUNT; PENALTIES NOT EXCLUSIVE.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) The comptroller by rule shall adopt a formula for determining the amount of a penalty under this subchapter. For each violation and for each day of a continuing violation, a penalty must be at least $100 per day and not more than $1,000 per day. The penalty must be based on factors that include:
(1) the aggregate average weekly deposit amounts during the state fiscal year of the institution's deposits of public funds;
(2) the number of violations by the institution during the state fiscal year;
(3) the number of days of a continuing violation; and
(4) the average asset base of the institution as reported on the institution's year-end report of condition.
(b) The penalties provided by Sections 2257.107-2257.109 are in addition to those provided by Subchapter D or other law.
Notes and commentary — not statutory text
History
Added by Acts 2009, 81st Leg., R.S., Ch. 486 (S.B. 638), Sec. 1, eff. September 1, 2009.
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 c1a794b46f3da9c7bb2e98984ae155a5f066215ba91e3db0ad831d53be41e90f
- 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
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