New York Laws
Article 78 - Life Settlements
7807 - Reporting Requirements.

(2) Every life settlement provider that willfully fails to file an
annual statement as required in this section, or willfully fails to
reply within thirty days to a written inquiry by the superintendent in
connection therewith, shall, in addition to other penalties provided by
this chapter, be subject, upon due notice and opportunity to be heard,
to a penalty not to exceed five hundred dollars per day of delay, not to
exceed fifty thousand dollars in the aggregate, for each such failure.

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