(a) After notice and a hearing, the Commissioner may assess a civil penalty against a credit union that the Commissioner determines has: (1) Violated a cease and desist order issued by the Commissioner under § 6-906 of this subtitle; or (2) Engaged in: (i) An unsafe or unsound practice; or (ii) A practice that is injurious to the public interest. (b) The civil penalty may not exceed: (1) $1,000 per violation; and (2) $1,000 per violation for each day that the violation continues. (c) (1) A civil penalty shall be assessed by written notice of assessment served on the person to be assessed. (2) The notice of assessment shall state the: (i) Amount of the civil penalty; (ii) Legal authority for the assessment; and (iii) Matters of fact or law constituting the grounds for the assessment. (3) The notice of assessment shall constitute a final order for purposes of judicial review pursuant to § 10-221 of the State Government Article. (d) In determining the amount of the civil penalty to be assessed, the Commissioner shall consider: (1) The seriousness of the violation; (2) The good faith of the violator; (3) The violator's history of previous violations; (4) The deleterious effect of the violation on the public and the credit union industry; (5) The assets of the violator; and (6) Any other factors relevant to the determination of the civil penalty. (e) (1) A civil penalty assessed under this section shall be due and payable within 30 days after the Commissioner issues the notice of assessment. (2) The Commissioner may reduce or set aside a civil penalty. (f) The Commissioner shall pay all civil penalties collected under this section into the General Fund of the State.
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