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§332
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§332 . Assessments to defray operating expenses of department.
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§332(a)
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(a) The expenses of the department, excluding the expenses of the supervision of employee welfare funds, for any fiscal year, including all direct and indirect costs, as approved by the director of the budget and audited by the comptroller, except as otherwise provided by §151 and §228 of the workers' compensation law and by §60 of the volunteer firefighters' benefit law, shall be assessed by the superintendent pro rata upon all domestic insurers and all licensed United States branches of alien insurers domiciled in this state within the meaning of paragraph §7408(b)(4) of this chapter, in proportion to the gross direct premiums and other considerations, written or received by them in this state during the calendar year ending December 31st immediately preceding the end of the fiscal year for which the assessment is made (less return premiums and considerations thereon) for policies or contracts of insurance covering property or risks resident or located in this state the issuance of which policies or contracts requires a license from the superintendent; and the superintendent shall levy and collect such assessments and pay the same into the state treasury, subject to the provisions of §121 of the state finance law and (sub§ (b)) hereof.
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§332(b)
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(b) For each fiscal year commencing on or after April 1st, 1983, a partial payment shall be made by each insurer subject to (this §) in a sum equal to 25 of the annual expenses assessed upon it for the fiscal year as estimated by the superintendent. Such payment shall be made on March 10th of the preceding fiscal year and on June 10th, September 10th and December 10th of each year, or at such other dates as the director of the budget may prescribe. Provided, however, that the payment due March 10th, 1983 for the fiscal year beginning April 1st, 1983 shall not be required to be paid until June 10th, 1983. The balance assessments for the fiscal year shall be paid upon determination the actual amount due in accordance with the provisions (this §) . Any overpayment annual assessment resulting from complying with the requirements (this sub§) shall be refunded or at the option the assessed applied as a credit against the assessment for the succeeding fiscal year. The partial payment schedule provided for herein shall not be applicable to any insurer whose annual assessment pursuant to (this §) for the fiscal year is estimated to be less than $100 and such insurers shall make a single annual payment on or before September 30th of the fiscal year. Source Data downloaded: 2009-04-09 12: 32: 55; Processed: 2009-05-08 15: 35: 45
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