Section 1001.506 - Remittance of Penalty and Interest(a) If, after judicial review, the administrative penalty is reduced or not imposed by the court, the court shall:(1) order 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:(A) if the person gave a supersedeas bond and the penalty is not upheld by the court; or(B) after the person pays the penalty if the person gave a supersedeas bond and the penalty is reduced.(b) The interest paid under Subsection (a)(1) is 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 § 1001.506
Added by Acts 2001, 77th Leg., ch. 1421, Sec. 1, eff. 6/1/2003.