Texas § 2257.062 PENALTIES.

Texas Statutes

§ 2257.062 — PENALTIES.

Texas § 2257.062

Code GVGovernment Code

This text of Texas § 2257.062 (PENALTIES.) is published on Counsel Stack Legal Research, covering Texas primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Tex. Government Code Code Ann. § 2257.062 (2026).

Text

Sec. 2257.062. PENALTIES.

(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.

Free access — add to your briefcase to read the full text and ask questions with AI

Sec. 2257.062. PENALTIES. (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.