Sec. 1103.552. ADMINISTRATIVE PENALTY. (a) The board may impose an administrative penalty for a violation of this chapter or a rule adopted or order issued by the board under this chapter in an amount not to exceed:
(1) $1,500 for each violation; or
(2) $5,000 for multiple violations in a single case.
(b) The person on whom the penalty is imposed shall pay the penalty not later than the 20th day after the date the order imposing the penalty becomes final.
(c) Notwithstanding any other law, an administrative penalty collected under this section shall be deposited in a restricted fund maintained and operated by the board to develop educational programs for appraisers or conduct studies that enhance consumer protection.
Added by Acts 2001, 77th Leg., ch. 1421, Sec. 2, eff. June 1, 2003. Amended by Acts 2003, 78th Leg., ch. 106, Sec. 5, eff. Sept. 1, 2003.
Amended by:
Acts 2011, 82nd Leg., R.S., Ch. 131 (H.B. 2375), Sec. 23, eff. May 27, 2011.
Acts 2015, 84th Leg., R.S., Ch. 950 (S.B. 1007), Sec. 57, eff. January 1, 2016.
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