Statutory Fine
/ˈstætʃʊtɔri faɪn/
Definitions
- (n.) A monetary penalty prescribed by statute imposed for violation of a legal obligation or regulation.
The company was ordered to pay a statutory fine for breaching environmental laws.
Forms
- statutory fines
Related terms
See also
Commentary
Statutory fines differ from judicially imposed fines by being explicitly established in legislation rather than through case-by-case judicial discretion.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.