N.Y. VAT. LAW § 405-f : NY Code - Section 405-F: Disposition of fees

Search N.Y. VAT. LAW § 405-f : NY Code - Section 405-F: Disposition of fees

1. Except as otherwise herein provided
  the provisions of section four  hundred  twenty-seven  of  this  chapter
  shall  not  apply to any fee collected in accordance with the provisions
  of any agreement entered into  pursuant  to  the  authority  granted  in
  section four hundred five of this article.
    2.  The  commissioner  shall deposit all fees collected or accepted by
  him under this article in a responsible bank,  banking  house  or  trust
  company  in  the  city  of  Albany  which  shall pay the highest rate of
  interest to the state for such deposit to the credit of the  comptroller
  on  account  of  the  International  Registration Plan. Every such bank,
  banking house or trust company shall execute and file in the  office  of
  the  department of audit and control an undertaking to the state, in the
  sum, and with such  sureties,  as  are  required  and  approved  by  the
  comptroller  for  the  safekeeping  and  prompt  payment on legal demand
  therefor of all such moneys held by or on deposit in such bank,  banking
  house  or trust company, with interest thereon on daily balances at such
  rate as the comptroller may fix.   Every  such  undertaking  shall  have
  endorsed thereon or annexed thereto the approval of the attorney general
  as  to  its  form.  The comptroller shall on the first day of each month
  make a verified return to the department of taxation and finance, of all
  fees received by him under this chapter during  the  preceding  calendar
  month.
    3.  The commissioner shall at least on a quarterly basis determine the
  amount of fees in such account collected on behalf of and due and  owing
  to  other  jurisdictions  which are members of the agreement and certify
  the same to the comptroller. The  comptroller  shall  then  pay  to  the
  appropriate official of each such jurisdiction the amount of fees due to
  each such jurisdiction.
    4.  The  comptroller,  after reserving an amount sufficient to pay any
  refund under this article approved by the commissioner and by him and an
  amount, if  any,  that  may  be  required  to  make  payments  to  other
  jurisdictions pursuant to subdivision three of this section, shall on or
  before  the  tenth  day  of  each month pay into the general fund of the
  state treasury the balance to his credit in such bank, banking house  or
  trust  company  on  account  of fees collected under this article at the
  close of business on the last day of the month  preceding  the  date  of
  such payment.
    5.  The amount paid into the general fund pursuant to subdivision four
  of this section shall  be  deemed  to  be  registration  fees  collected
  pursuant to article fourteen of this chapter and shall be subject to the
  provisions of law applicable to the disposition of such fees.