[§432G-12]  Fees.  (a)  The commissioner shall collect the following fees:

     (1)  For filing an application for a certificate of authority or amendment thereto, $600; and

     (2)  For all services subsequent to the issuance of a certificate of authority, including extension of the certificate of authority, $400.

     (b)  No certificate of authority shall contain an expiration date, but all certificates of authority shall be extended from time to time in order to continue to be valid.  When the commissioner issues or extends a certificate of authority, the commissioner shall determine the date prior to which the certificate of authority is next required to be extended, the extension date, and shall so notify the insurer holding the certificate of authority in writing.  If the fee for extension is not paid before or on the extension date, a penalty shall be imposed in the amount of fifty per cent of the fee.  If the fee and the penalty are not paid within thirty days immediately following the extension date, the commissioner may suspend the certificate of authority and shall not reinstate the certificate of authority until the fee and penalty have been paid.

     (c)  All fees and penalties collected pursuant to this section shall be deposited into the compliance resolution fund. [L 2013, c 191, pt of §1]