N.Y. Banking Law § 21: Collection of assessments, penalties and forfeitures; proceedings by attorney general

§ 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.