§ 1112. Reciprocal provisions as to taxes, license fees, deposits, and\nother requirements. (a) (1) If, by the laws, or the action of any public\nofficial, of any other state, any insurer organized or domiciled in this\nstate, or its duly authorized agents, shall be, required to deposit\nsecurities in such other state to protect policyholders or for any other\npurpose, or shall be required to pay taxes, fines, penalties, fees for\nlicenses or certificates of authority or any other sum for the privilege\nof doing business in such other state, or shall be subjected to any\nrestrictions, obligations, conditions or penalties, imposed for such\nprivilege, and such requirements are greater than those required of\nsimilar insurers organized or domiciled in such other state by the laws\nof this state for the privilege of doing business herein, then all\nsimilar insurers organized or domiciled in such other state and their\nduly authorized agents in this state shall make like deposits for like\npurposes with the superintendent, and pay him for taxes, fines,\npenalties, fees for licenses or certificates of authority or for any\nother requirement for the privilege of doing business in this state, an\namount determined in the manner prescribed by such other state, and\nshall be subjected to such greater requirements imposed by such other\nstate upon similar insurers of this state and their duly authorized\nagents.\n (2) (i) For the amount due under this subsection for the calendar year\nnineteen hundred eighty-nine, an initial payment shall be made by each\ninsurer subject to this subsection of an amount equal to the lesser of\n(a) ninety percent of the amount finally determined to be due under this\nsubsection for the calendar year nineteen hundred eighty-seven or (b)\neighty percent of the amount finally determined to be due under this\nsubsection for the calendar year nineteen hundred eighty-nine. Such\ninitial payment shall be made on or before March fifteenth, nineteen\nhundred ninety.\n (ii) For the amount due under this subsection for calendar years after\nnineteen hundred eighty-nine, an estimated payment shall be due and\npayable on or before the fifteenth day of December. This payment shall\nbe equal to the lesser of (a) ninety percent of the amount finally\ndetermined to be due under this subsection for the second preceding\ncalendar year or (b) eighty percent of the amount finally determined to\nbe due under this subsection for the calendar year.\n (iii) If any insurer fails to pay all or any part of the initial\npayment or estimated payment due pursuant to subparagraph (i) or (ii) of\nthis paragraph, it shall be deemed to have made an underpayment. There\nshall be added to the amount due pursuant to paragraph one of this\nsubsection, an amount at the rate set for underpayments by the\ncommissioner of taxation and finance pursuant to section one thousand\nninety-six of the tax law, minus four percentage points, or if no rate\nis set, at the rate of six percent per annum upon the amount of the\nunderpayment for the period of the underpayment. In computing the amount\nof any interest required to be paid, such interest shall not be\ncompounded. The amount of the underpayment shall be, with respect to the\ninitial payment or any estimated payment, the excess of the amount\nrequired to be paid over the amount, if any, paid on or before the last\nday prescribed for such payment. If the superintendent demands payment\nof the initial payment or any estimated payment, and if such amount is\npaid within ten days after the date of such demand, interest on the\namount so paid shall not be imposed for the period after the date of\nsuch demand. No portion of the interest imposed pursuant to this\nsubparagraph may be waived.\n (iv) Notwithstanding the provisions of section sixteen of the state\nfinance law, interest shall be allowed and paid at the rate set for\noverpayments by the commissioner of taxation and finance pursuant to\nsectio
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