§ 27-1012. Deposit and disposition of refund values; registration;\n reports.\n 1. Each deposit initiator shall deposit in a refund value account an\namount equal to the refund value initiated under section 27-1005 of this\ntitle which is received with respect to each beverage container sold by\nsuch deposit initiator. Such deposit initiator shall hold the amounts in\nthe refund value account in trust for the state. A refund value account\nshall be an interest-bearing account established in a banking\ninstitution located in this state, the deposits in which are insured by\nan agency of the federal government. Deposits of such amounts into the\nrefund value account shall be made not less frequently than every five\nbusiness days. All interest, dividends and returns earned on the refund\nvalue account shall be paid directly into said account. The monies in\nsuch accounts shall be kept separate and apart from all other monies in\nthe possession of the deposit initiator. The commissioner of taxation\nand finance may specify a system of accounts and records to be\nmaintained with respect to accounts established under this subdivision.\n 2. Payments of refund values pursuant to section 27-1007 of this title\nshall be paid from each deposit initiator's refund value account. No\nother payment or withdrawal from such account may be made except as\nprescribed by this section.\n 3. Each deposit initiator shall file quarterly reports with the\ncommissioner of taxation and finance on a form and in the manner\nprescribed by such commissioner. The commissioner of taxation and\nfinance may require such reports to be filed electronically. The\nquarterly reports required by this subdivision shall be filed for the\nquarterly periods ending on the last day of May, August, November and\nFebruary of each year, and each such report shall be filed within twenty\ndays after the end of the quarterly period covered thereby. Each such\nreport shall include all information such commissioner shall determine\nappropriate including but not limited to the following information:\n a. the balance in the refund value account at the beginning of the\nquarter for which the report is prepared;\n b. all such deposits credited to the refund value account and all\ninterest, dividends or returns received on such account, during such\nquarter;\n c. all withdrawals from the refund value account during such quarter,\nincluding all reimbursements paid pursuant to subdivision two of this\nsection, all service charges on the account, and all payments made\npursuant to subdivision four of this section; and\n d. the balance in the refund value account at the close of such\nquarter.\n 4. a. Quarterly payments. An amount equal to eighty percent of the\nbalance outstanding in the refund value account at the close of each\nquarter shall be paid to the commissioner of taxation and finance at the\ntime the report provided for in subdivision three of this section is\nrequired to be filed. The commissioner of taxation and finance may\nrequire that the payments be made electronically. The remaining twenty\npercent of the balance outstanding at the close of each quarter shall be\nthe monies of the deposit initiator and may be withdrawn from such\naccount by the deposit initiator. If the provisions of this section with\nrespect to such account have not been fully complied with, each deposit\ninitiator shall pay to such commissioner at such time, in lieu of the\namount described in the preceding sentence, an amount equal to the\nbalance which would have been outstanding on such date had such\nprovisions been fully complied with. The commissioner of taxation and\nfinance may require that the payments be made electronically.\n b. Refund value account shortfall. In the event a deposit initiator\npays out more in refund values than it collects in deposits of refund\nvalues during the course of a quarterly period as described in\nsubdivision three of this section, the depo
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