Texas § 228.303 ADMINISTRATIVE PENALTY.

Texas Statutes

§ 228.303 — ADMINISTRATIVE PENALTY.

Texas § 228.303

Code INInsurance Code

This text of Texas § 228.303 (ADMINISTRATIVE PENALTY.) 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. Insurance Code Code Ann. § 228.303 (2026).

Text

Sec. 228.303. ADMINISTRATIVE PENALTY.

(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 redeterminatio

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Sec. 228.303. ADMINISTRATIVE PENALTY. (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.
SUBCHAPTER H. RECAPTURE AND FORFEITURE OF PREMIUM TAX CREDITS