Texas § GV.2257.110 - PENALTY AMOUNT
Full text of Texas The Texas Constitution § GV.2257.110 — PENALTY AMOUNT, with citation guidance and answers to common questions.
§ GV.2257.110. PENALTY AMOUNT
PENALTY AMOUNT; PENALTIES NOT EXCLUSIVE. (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. Added by Acts 2009, 81st Leg., R.S., Ch. 486 (S.B. 638 ), Sec. 1, eff. September 1, 2009.
Frequently Asked Questions About Texas § GV.2257.110
What does The Texas Constitution § GV.2257.110 cover?
Section GV.2257.110 ("PENALTY AMOUNT") is part of the The Texas Constitution, the codified statutory law of Texas. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Texas § GV.2257.110?
A common citation format is "The Texas Constitution § GV.2257.110" (Texas). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Texas law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Texas official source linked on this page or consult a licensed Texas attorney.
How does Texas § GV.2257.110 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Texas can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Texas.