§ 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.
Copyright ©2024 LegalFix. All rights reserved. LegalFix is not a law firm, is not licensed to practice law, and does not provide legal advice, services, or representation. The information on this website is an overview of the legal plans you can purchase—or that may be provided by your employer as an employee benefit or by your credit union or other membership group as a membership benefit.
LegalFix provides its members with easy access to affordable legal services through a network of independent law firms. LegalFix, its corporate entity, and its officers, directors, employees, agents, and contractors do not provide legal advice, services, or representation—directly or indirectly.
The articles and information on the site are not legal advice and should not be relied upon—they are for information purposes only. You should become a LegalFix member to get legal services from one of our network law firms.
You should not disclose confidential or potentially incriminating information to LegalFix—you should only communicate such information to your network law firm.
The benefits and legal services described in the LegalFix legal plans are not always available in all states or with all plans. See the legal plan Benefit Overview and the more comprehensive legal plan contract during checkout for coverage details in your state.
Use of this website, the purchase of legal plans, and access to the LegalFix networks of law firms are subject to the LegalFix Terms of Service and Privacy Policy.