Gavvy: Texas Department of Banking, Rule 35.71 What Must A Financial Institution Do When It Receives Notice from A Customer Or A Check Verification Entity That It Sent Incorrect Information Through the Electronic Notification System?

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Sec. 62.561. Criminal Penalty.

Sec. 62.561. CRIMINAL PENALTY. (a) A person commits an offense if the person intentionally makes a materially false or misleading statement to the commissioner with respect to the information required by this subchapter.

(b) An offense under this section is a misdemeanor punishable by:

(1) a fine in an amount not to exceed $2,000;

(2) confinement in county jail for a period not to exceed one year; or

(3) both the fine and confinement.

Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.

Gavvy last updated this database on: Sep 6, 2024