626.936  Failure to file report or pay tax; administrative penalty.--

(1)  Any licensed surplus lines agent who neglects to file a quarterly report in the form and within the time required or provided for in the Surplus Lines Law may be fined up to $50 per day for each day the neglect continues, beginning the day after the quarterly report was due until the date the report is received by the department. The department shall deposit all sums collected by it under this section into the Insurance Commissioner's Regulatory Trust Fund.

(2)  Any licensed surplus lines agent who neglects to pay the taxes as required under the Surplus Lines Law and within the time required may be fined up to $500 per day for each day the failure to pay continues, beginning the day after the tax was due. The agent shall pay interest on the amount of any delinquent tax due, at the rate of 9 percent per year, compounded annually, beginning the day the amount becomes delinquent. The department shall deposit all sums collected by it under this section into the Insurance Commissioner's Regulatory Trust Fund.