§ 66.109 — ENFORCEMENT OF SUPERVISORY ORDER.

Texas § 66.109

• Jurisdiction: Texas
• Code FI: Finance Code

Text

Sec. 66.109. ENFORCEMENT OF SUPERVISORY ORDER. (a) The commissioner, after giving notice, may assess against an association or another person designated in a final supervisory order who violates the order, or both, an administrative penalty of not more than $1,000 each for each day of the violation. The association may not reimburse or indemnify a person for any part of the penalty.
(b) In addition to any other remedy provided by law, the commissioner may institute in a district court in Travis County:
(1) a suit for injunctive relief to stop or prevent a violation of a supervisory order; or
(2) a suit for injunctive relief and to collect the administrative penalty.
(c) A bond is not required of the commissioner with respect to injunctive relief granted under this section.

Legislative History

Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.