§245-30 - Penalty for failure to make timely payment.

[§245-30]  Penalty for failure to maketimely payment.  A licensee who fails to pay any amount owing for thepurchase of stamps within the time required shall pay a penalty of:

(1)  Ten per cent of the amount due in addition to theamount due; and

(2)  Interest at the rate specified in section 231-39from the date on which the amount became due and payable until the date ofpayment. [L 2000, c 249, pt of §1]