ADMINISTRATIVE PENALTY

(a) The comptroller may impose an administrative penalty on a certified capital company that violates this chapter. (b) The amount of the penalty may not exceed $25,000. Each day a violation continues or occurs is a separate violation for the purpose of imposing the penalty. The amount of the penalty shall be based on: (1) the seriousness of the violation, including the nature, circumstances, extent, and gravity of the violation; (2) the economic harm caused by the violation; (3) the history of previous violations; (4) the amount necessary to deter a future violation; (5) efforts to correct the violation; and (6) any other matter that justice may require. (c) A certified capital company assessed a penalty under this chapter may request a redetermination as provided by Chapter 111, Tax Code. (d) The attorney general may sue to collect the penalty. (e) A proceeding to impose the penalty is a contested case under Chapter 2001, Government Code.