§ 317 — Compliance with reporting requirements of the financial security act

§ 317. Compliance with reporting requirements of the financial\nsecurity act. Insurers licensed to write personal injury liability\ninsurance in connection with the ownership, maintenance or use of motor\nvehicles, as authorized pursuant to paragraph thirteen of subsection (a)\nof section one thousand one hundred thirteen of this chapter, shall\nfully comply with the reporting requirements of article six of the\nvehicle and traffic law. In the event that an insurer fails to timely\nand properly report any of the information required by such article or\nthe regulations of the commissioner of motor vehicles promulgated\nthereunder, the superintendent, upon notice and an opportunity to be\nheard, is authorized to impose a fine on such insurer in an amount not\nto exceed five hundred dollars for each failure to timely and properly\nreport. In the event of a persistent and willful violation of the\nreporting requirements, the superintendent, upon notice and an\nopportunity to be heard, is authorized to impose a fine on such insurer,\nin an amount not to exceed five thousand dollars per day for each day\nsuch violation continues.\n