§ 405-F — Disposition of fees

§ 405-f. Disposition of fees. 1. Except as otherwise herein provided\nthe provisions of section four hundred twenty-seven of this chapter\nshall not apply to any fee collected in accordance with the provisions\nof any agreement entered into pursuant to the authority granted in\nsection four hundred five of this article.\n 2. The commissioner shall deposit all fees collected or accepted by\nhim under this article in a responsible bank, banking house or trust\ncompany in the city of Albany which shall pay the highest rate of\ninterest to the state for such deposit to the credit of the comptroller\non account of the International Registration Plan. Every such bank,\nbanking house or trust company shall execute and file in the office of\nthe department of audit and control an undertaking to the state, in the\nsum, and with such sureties, as are required and approved by the\ncomptroller for the safekeeping and prompt payment on legal demand\ntherefor of all such moneys held by or on deposit in such bank, banking\nhouse or trust company, with interest thereon on daily balances at such\nrate as the comptroller may fix. Every such undertaking shall have\nendorsed thereon or annexed thereto the approval of the attorney general\nas to its form. The comptroller shall on the first day of each month\nmake a verified return to the department of taxation and finance, of all\nfees received by him under this chapter during the preceding calendar\nmonth.\n 3. The commissioner shall at least on a quarterly basis determine the\namount of fees in such account collected on behalf of and due and owing\nto other jurisdictions which are members of the agreement and certify\nthe same to the comptroller. The comptroller shall then pay to the\nappropriate official of each such jurisdiction the amount of fees due to\neach such jurisdiction.\n 4. The comptroller, after reserving an amount sufficient to pay any\nrefund under this article approved by the commissioner and by him and an\namount, if any, that may be required to make payments to other\njurisdictions pursuant to subdivision three of this section, shall on or\nbefore the tenth day of each month pay into the general fund of the\nstate treasury the balance to his credit in such bank, banking house or\ntrust company on account of fees collected under this article at the\nclose of business on the last day of the month preceding the date of\nsuch payment.\n 5. The amount paid into the general fund pursuant to subdivision four\nof this section shall be deemed to be registration fees collected\npursuant to article fourteen of this chapter and shall be subject to the\nprovisions of law applicable to the disposition of such fees.\n