How often is the penalty of $500.00 applied for failing to notify a change of ownership?

The correct answer to the question regarding the penalty for failing to notify a change of ownership is every fourteen days. This means that if a licensed private security company does not report a change of ownership within the specified timeframe, they will incur a penalty of $500 for each subsequent fourteen-day period until the change is properly reported. This regulation is in place to ensure that the Texas Department of Public Safety maintains up-to-date and accurate records of licensed businesses, which is essential for effective regulation and oversight in the private security industry. Regular reporting of ownership changes helps prevent potential issues related to accountability and compliance with security regulations.