§ 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 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 or section two hundred six
of the financial services law, 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.