Legislation

Search OpenLegislation Statutes
This entry was published on 2014-09-22
The selection dates indicate all change milestones for the entire volume, not just the location being viewed. Specifying a milestone date will retrieve the most recent version of the location before that date.
SECTION 21
Collection of assessments, penalties and forfeitures; proceedings by attorney general
Banking (BNK) CHAPTER 2, ARTICLE 2
§ 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.