§444-27  Additional payments to fund. 
(a)  At any time when the balance remaining in the contractors recovery fund is
less than $250,000, the board may assess every contractor a fee not to exceed
$500 annually for deposit in the contractors recovery fund.



(b)  The failure of any contractor to pay the
assessment within sixty days from the date of assessment shall constitute a
forfeiture of the contractor's license.  The board may impose other penalties
or requirements as a condition of restoration of the license. [L 1973, c 170,
pt of §1; am L 1977, c 127, §2; am L 1983, c 201, §5; gen ch 1985; am L 1994, c
132, §3]