Texas Insurance Code - Section 84.050. Remittance Of Penalty And Interest
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§ 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.
Added by Acts 1999, 76th Leg., ch. 101, § 1, eff. Sept. 1, 1999.
Section: 84.043 84.044 84.045 84.046 84.047 84.048 84.049 84.050 84.051 85.001 85.051 85.052 86.001 86.002 86.051
Last modified: August 11, 2007
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