Legal Definitions - executed fine

An executed fine refers to a monetary penalty that has been officially imposed by a court or administrative body and is now legally enforceable, due for payment, or has already been collected. It signifies that the legal process for assessing and ordering the payment of the fine has been completed, and the obligation to pay is active.

Here are some examples illustrating an executed fine:

• Traffic Violation: A motorist receives a parking ticket for an expired meter. Instead of disputing it, they pay the specified amount through the city's online portal. Once this payment is processed, the parking penalty becomes an executed fine, as the monetary obligation was legally imposed and subsequently fulfilled.

  Explanation: The fine was officially levied by the city and then paid, completing the legal process and satisfying the obligation.

• Corporate Regulatory Breach: A financial institution is investigated by a regulatory agency for failing to implement proper anti-money laundering controls. After a thorough review, the agency issues a formal order imposing a $1 million penalty on the institution. As soon as this order is finalized and the payment is due, it represents an executed fine, establishing a binding financial obligation for the company.

  Explanation: The regulatory body formally imposed the monetary penalty, making it a legally enforceable and active financial obligation for the institution.

• Criminal Sentencing: Following a conviction for a minor offense, a judge sentences a defendant to community service and orders them to pay a $500 fine. From the moment the judge pronounces the sentence and it is entered into the court record, this $500 becomes an executed fine, meaning the defendant is legally required to pay that specific sum as part of their punishment.

  Explanation: The court formally imposed the fine as part of the sentence, making it a legally binding and active debt owed by the defendant.