(a) If the person paid the administrative penalty and the amount is reduced or is not upheld by the court, the court shall order 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. The interest shall be paid for the period beginning on the date the penalty was paid and ending on the date the penalty is remitted.
Added by Acts 2019, 86th Leg., R.S., Ch. 469 (H.B. 4173), Sec. 1.06, eff. January 1, 2021.
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