Section 1002.457 - Remittance of Penalty and Interest(a) If the court sustains the occurrence of the violation, the court may uphold or reduce the amount of the administrative penalty and order the person to pay the full or reduced penalty. If the court does not sustain the occurrence of the violation, the court shall order that a penalty is not owed.(b) If after judicial review the administrative penalty is reduced or not imposed by the court, the court shall, after the judgment becomes final:(1) order that the appropriate amount, plus accrued interest, be remitted to the person if the person paid the penalty; or(2) order the release of the bond if the penalty is not imposed or order the release of the bond after the person pays the penalty if the person posted a supersedeas bond.(c) Interest accrues under Subsection (b)(1) at the rate charged on loans to depository institutions by the New York Federal Reserve Bank. 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.Tex. Occ. Code § 1002.457
Added by Acts 2003, 78th Leg., ch. 1276, Sec. 14A.004(a), eff. 9/1/2003.