§ 489-NN — Reports to commissioner

§ 489-nn. Reports to commissioner. 1. Each railroad company shall\nfurnish the commissioner the following:\n (a) A copy of all income, profit and loss and other financial\nstatements filed with the interstate commerce commission or any other\nfederal agency or officer and the commissioner of transportation; and\n (b) Such other reports as the commissioner may from time to time\nrequire containing such information and data as it may specify,\nincluding cost and valuation data relating to or an inventory of the\nrailroad real property of such company situated in each assessing unit,\nin order to carry out the provisions of this title.\n 2. Each railroad company shall pay an annual charge to the state\noffice. All costs and expenses of the state office, direct and\nindirect, incurred in the establishment of railroad ceilings pursuant to\nthis title shall be paid from the collection of an annual charge upon\nrailroad companies. The commissioner shall provide by rule for\ncomputation of this charge through the apportionment of these costs and\nexpenses to railroad companies in direct relation to the value of such\nreal property subject to the ceiling. Charges shall be subject to the\nannual approval of the director of the budget. Any unpaid charge shall\nbe a lien upon the assets of the company and may be enforced by\nappropriate administrative and judicial proceedings commenced by counsel\nto the state office.\n 3. Any railroad company failing to make any report required by or\npursuant to this section within a reasonable time specified by the\ncommissioner shall forfeit to the people of the state the sum of one\nhundred dollars for each failure and the additional sum of fifty dollars\nfor each day that such failure continues. Acknowledgement of receipt of\nblank reports which contain the penalty provisions of this section shall\nbe deemed sufficient notice of such penalties.\n