N.Y. Banking Law § 21 Collection of Assessments, Penalties and Forfeitures; Proceedings By Attorney General

• Library: New York Statutes
• Edition: 2023
• Currency: Current through 2023 NY Law Chapter 777
• Year: 2023
• Citation: N.Y. Banking Law § 21

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.