152.407 – ADMINISTRATIVE PENALTY. (a) After notice and
Texas Finance Code § 152.407
Summary
This law allows the commissioner to impose administrative penalties on individuals or entities that violate specific financial regulations and fail to rectify the violations within a designated timeframe. It primarily affects money services licensees and others subject to the chapter's rules.
Penalties apply after notice and a hearing.
Violators must correct issues within 30 days of notice.
Money services licensees face additional scrutiny under this law.
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In simple terms: Learn about Texas's ADMINISTRATIVE PENALTY. (a) After notice and law, including definitions, penalties, and legal implications.. This means people must follow this rule, and breaking it can lead to criminal penalties.
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