10-44-16 Penalty on unpaid taxes and installments--Refunds.
Penalty on unpaid taxes and installments--Refunds.
All taxes and installments not
paid when due shall be paid together with a penalty assessment on the unpaid balance at the rate of
one and one-half percent per month, or fraction thereof. The Division of Insurance may refund any
penalty or interest paid in error. Upon written request by a receiver, the director of the Division of
Insurance may extend the time for payment of the tax and may waive any penalty assessment.
Source: SL 1982, ch 110, § 5A; SL 1984, ch 84; SL 1993, ch 97, § 3.