Texas § 84.050 REMITTANCE OF PENALTY AND INTEREST.

Texas Statutes

§ 84.050 — REMITTANCE OF PENALTY AND INTEREST.

Texas § 84.050

Code INInsurance Code

This text of Texas § 84.050 (REMITTANCE OF PENALTY AND INTEREST.) 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. § 84.050 (2026).

Text

Sec. 84.050. REMITTANCE OF PENALTY AND INTEREST.

(a)If the person paid the administrative penalty and if the amount of the penalty is reduced or the penalty is not upheld by the court, the court shall order, when the judgment becomes final, that the appropriate amount plus accrued interest be remitted to the person.

(b)The interest accrues at the rate charged on loans to depository institutions by the New York Federal Reserve Bank.

(c)The interest shall be paid for the period beginning on the date the penalty is paid and ending on the date the penalty is remitted.

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Sec. 84.050. REMITTANCE OF PENALTY AND INTEREST. (a) If the person paid the administrative penalty and if the amount of the penalty is reduced or the penalty is not upheld by the court, the court shall order, when the judgment becomes final, that the appropriate amount plus accrued interest be remitted to the person.
(b) The interest accrues at the rate charged on loans to depository institutions by the New York Federal Reserve Bank.
(c) The interest shall be paid for the period beginning on the date the penalty is paid and ending on the date the penalty is remitted.