2006 New York Code - Collection Of Assessments, Penalties And Forfeitures; Proceedings By Attorney-general.

 
    §   21.   Collection   of   assessments,  penalties  and  forfeitures;
  proceedings by attorney-general. 1. When the superintendent, pursuant to
  the powers conferred on him or her by  this  article,  shall  have  duly
  levied  any  assessment  and  shall  have  given due notification of the
  amount thereof, the amount so assessed shall become a liability of,  and
  shall  be  paid  to the superintendent by any person or entity licensed,
  registered, or incorporated or otherwise formed pursuant to this chapter
  upon which it was levied.
    2. If any person or entity licensed, registered,  or  incorporated  or
  otherwise  formed  pursuant  to  this  chapter  shall not pay, after due
  notice, any such assessment or any penalty or forfeiture incurred  under
  any  section  of  this  chapter,  the  superintendent may, in his or her
  discretion, apply in payment thereof, with interest at the  legal  rate,
  so  much  as  may be necessary of the interest accruing on any stocks or
  bonds deposited with him or her  by  such  person  or  entity  licensed,
  registered, or incorporated or otherwise formed pursuant to this chapter
  pursuant to any requirement of this chapter.
    3.  The  superintendent  may,  in his or her discretion, report to the
  attorney-general any failure to make such payments or the failure of any
  officer,  director,  trustee,  or  employee  of  any  person  or  entity
  licensed,  registered,  or  incorporated or otherwise formed pursuant to
  this chapter, after  due  notice,  to  pay  any  penalty  or  forfeiture
  incurred  by  him  or  her  under  any provision of this chapter, or any
  violation by any corporation, unincorporated  association,  partnership,
  individual,  or  any other entity, of any provision of this chapter. The
  attorney-general shall thereupon, in the name of the superintendent,  or
  of  the people of the state, institute such action or proceedings as the
  facts may warrant.
    4. The provisions of this section shall  be  applicable  to  any  bank
  holding  company,  as  that  term  is defined in article three-A of this
  chapter.