N.Y. Vehicle & Traffic Law § 405-f: Disposition of fees

§ 405-f. Disposition of fees. 1. Except as otherwise herein provided

the provisions of section four hundred twenty-seven of this chapter

shall not apply to any fee collected in accordance with the provisions

of any agreement entered into pursuant to the authority granted in

section four hundred five of this article.

2. The commissioner shall deposit all fees collected or accepted by

him under this article in a responsible bank, banking house or trust

company in the city of Albany which shall pay the highest rate of

interest to the state for such deposit to the credit of the comptroller

on account of the International Registration Plan. Every such bank,

banking house or trust company shall execute and file in the office of

the department of audit and control an undertaking to the state, in the

sum, and with such sureties, as are required and approved by the

comptroller for the safekeeping and prompt payment on legal demand

therefor of all such moneys held by or on deposit in such bank, banking

house or trust company, with interest thereon on daily balances at such

rate as the comptroller may fix. Every such undertaking shall have

endorsed thereon or annexed thereto the approval of the attorney general

as to its form. The comptroller shall on the first day of each month

make a verified return to the department of taxation and finance, of all

fees received by him under this chapter during the preceding calendar

month.

3. The commissioner shall at least on a quarterly basis determine the

amount of fees in such account collected on behalf of and due and owing

to other jurisdictions which are members of the agreement and certify

the same to the comptroller. The comptroller shall then pay to the

appropriate official of each such jurisdiction the amount of fees due to

each such jurisdiction.

4. The comptroller, after reserving an amount sufficient to pay any

refund under this article approved by the commissioner and by him and an

amount, if any, that may be required to make payments to other

jurisdictions pursuant to subdivision three of this section, shall on or

before the tenth day of each month pay into the general fund of the

state treasury the balance to his credit in such bank, banking house or

trust company on account of fees collected under this article at the

close of business on the last day of the month preceding the date of

such payment.

5. The amount paid into the general fund pursuant to subdivision four

of this section shall be deemed to be registration fees collected

pursuant to article fourteen of this chapter and shall be subject to the

provisions of law applicable to the disposition of such fees.