Tex. Ins. Code § 228.303 · Subchapter G. ENFORCEMENT
ADMINISTRATIVE PENALTY.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) The comptroller may impose an administrative penalty on a certified capital company that violates this chapter.
(b) The amount of the penalty may not exceed $25,000. Each day a violation continues or occurs is a separate violation for the purpose of imposing the penalty. The amount of the penalty shall be based on:
(1) the seriousness of the violation, including the nature, circumstances, extent, and gravity of the violation;
(2) the economic harm caused by the violation;
(3) the history of previous violations;
(4) the amount necessary to deter a future violation;
(5) efforts to correct the violation; and
(6) any other matter that justice may require.
(c) A certified capital company assessed a penalty under this chapter may request a redetermination as provided by Chapter 111, Tax Code.
(d) The attorney general may sue to collect the penalty.
(e) A proceeding to impose the penalty is a contested case under Chapter 2001, Government Code.
Notes and commentary — not statutory text
History
Added by Acts 2007, 80th Leg., R.S., Ch. 730 (H.B. 2636), Sec. 1B.001, eff. April 1, 2009.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/IN/htm/IN.228.htm
- Text hash
- sha256 3919008fefedcf9c3e62873896f887bc7704acf3ae498561771b4e0b2adc176d
- 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
This section cites
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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.