2020 New York Laws
ISC - Insurance
Article 91 - Taxes and Fees
9109 - Refunds and Penalties.

§  9109. Refunds and penalties. (a) (1) Whenever the superintendent is
satisfied that because of cancellations, some mistake of fact, error  in
calculation,  or  erroneous  interpretation  of a statute of this or any
other state, any authorized insurer or excess line broker  has  paid  to
him  pursuant  to  any provision of law, taxes, fees or other charges in
excess of the amount legally chargeable against it during the three year
period immediately preceding the cancellations or the discovery of  such
overpayment,  he  shall refund to such insurer or excess line broker the
amount of such excess by applying  the  amount  toward  the  payment  of
taxes,  fees  or  other charges already due or which may become due from
such insurer until such  excess  has  been  fully  refunded  or  at  his
discretion  make  a  cash  refund.  The excess line broker shall pay the
insured any refund of premium tax returned to such excess line broker if
such taxes were originally collected from the insured. Such cash  refund
may  be  paid  from  any  moneys  not  turned  over to the department of
taxation and finance pursuant to the provisions  of  the  state  finance
law.
  (2)  The superintendent shall retain from the taxes collected pursuant
to this article an amount sufficient to provide at all times a fund  not
to  exceed ten thousand dollars out of which he shall pay any refunds to
which taxpayers shall be entitled under this article.
  (b)  (1)  If  a  company,  association  or  person  fails  within  the
prescribed time to file any report or statement required by this article
or  by  section two thousand one hundred eighteen of this chapter, or to
make any payment due under the provisions of this  article  or  sections
three   hundred   thirteen,  three  hundred  thirty-two,  three  hundred
thirty-three, one thousand one hundred twelve, two thousand one  hundred
five,  two  thousand  one hundred eighteen or four thousand four hundred
seven of this  chapter,  the  superintendent  may  order  such  company,
association  or  person to pay to the people of this state the following
penalties:
  (A) not less than one hundred nor more than five hundred  dollars  for
each  and  every  failure  to file a report or statement within the time
prescribed;
  (B) five percent of the principal amount of any payment  due  plus  an
additional  one percent of said sum for the second and subsequent months
or fractions thereof during which payment has not been made.
  (2) The superintendent may, in his discretion, waive or remit  all  or
any part of such penalties if he finds that delay was excusable.