Sec. 901.556. OPTIONS FOLLOWING DECISION: PAY OR APPEAL. (a) Not later than the 30th day after the date the board's order becomes final as provided by Section 2001.144, Government Code, the person shall:
(1) pay the administrative penalty; or
(2) file a petition for judicial review contesting the fact of the violation, the amount of the penalty, or both.
(b) Within the 30-day period, a person who acts under Subsection (a)(2) may stay enforcement of the penalty by:
(1) paying the penalty to the board for placement in an escrow account;
(2) giving to the board a supersedeas bond in a form approved by the board that:
(A) is for the amount of the penalty; and
(B) is effective until judicial review of the board's order is final; or
(3) filing with the board an affidavit of the person stating that the person is financially unable to pay the penalty and is financially unable to give the supersedeas bond.
(c) A person who fails to take action as provided by this section waives the right to judicial review of the board's order.
Acts 1999, 76th Leg., ch. 388, Sec. 1, eff. Sept. 1, 1999.
Structure Texas Statutes
Title 5 - Regulation of Financial and Legal Services
Subtitle A - Financial Services
Subchapter L. Administrative Penalty
Section 901.551. Imposition of Administrative Penalty
Section 901.552. Amount of Penalty
Section 901.553. Report and Notice of Violation and Penalty
Section 901.554. Penalty to Be Paid or Hearing Requested
Section 901.556. Options Following Decision: Pay or Appeal