Section 1112. Reciprocal provisions as to taxes, license fees, deposits, and other requirements

(a) (1) If, by the laws, or the action of any public  official, of any other state, any insurer organized or domiciled in this
  state,  or  its  duly  authorized  agents, shall be, required to deposit
  securities in such other state to protect policyholders or for any other
  purpose, or shall be required to pay taxes, fines, penalties,  fees  for
  licenses or certificates of authority or any other sum for the privilege
  of  doing  business  in  such  other state, or shall be subjected to any
  restrictions, obligations, conditions or  penalties,  imposed  for  such
  privilege,  and  such  requirements  are  greater than those required of
  similar insurers organized or domiciled in such other state by the  laws
  of  this  state  for  the  privilege  of doing business herein, then all
  similar insurers organized or domiciled in such other  state  and  their
  duly  authorized  agents in this state shall make like deposits for like
  purposes  with  the  superintendent,  and  pay  him  for  taxes,  fines,
  penalties,  fees  for  licenses  or certificates of authority or for any
  other requirement for the privilege of doing business in this state,  an
  amount  determined  in  the  manner  prescribed by such other state, and
  shall be subjected to such greater requirements imposed  by  such  other
  state  upon  similar  insurers  of  this state and their duly authorized
  agents.
    (2) (i) For the amount due under this subsection for the calendar year
  nineteen hundred eighty-nine, an initial payment shall be made  by  each
  insurer  subject  to this subsection of an amount equal to the lesser of
  (a) ninety percent of the amount finally determined to be due under this
  subsection for the calendar year nineteen hundred  eighty-seven  or  (b)
  eighty  percent  of  the  amount finally determined to be due under this
  subsection for the calendar  year  nineteen  hundred  eighty-nine.  Such
  initial  payment  shall  be  made on or before March fifteenth, nineteen
  hundred ninety.
    (ii) For the amount due under this subsection for calendar years after
  nineteen hundred eighty-nine, an estimated  payment  shall  be  due  and
  payable  on  or before the fifteenth day of December. This payment shall
  be equal to the lesser of (a)  ninety  percent  of  the  amount  finally
  determined  to  be  due  under  this subsection for the second preceding
  calendar year or (b) eighty percent of the amount finally determined  to
  be due under this subsection for the calendar year.
    (iii)  If  any  insurer  fails  to  pay all or any part of the initial
  payment or estimated payment due pursuant to subparagraph (i) or (ii) of
  this paragraph, it shall be deemed to have made an  underpayment.  There
  shall  be  added  to  the  amount  due pursuant to paragraph one of this
  subsection,  an  amount  at  the  rate  set  for  underpayments  by  the
  commissioner  of  taxation  and finance pursuant to section one thousand
  ninety-six of the tax law, minus four percentage points, or if  no  rate
  is  set,  at  the  rate  of six percent per annum upon the amount of the
  underpayment for the period of the underpayment. In computing the amount
  of any interest  required  to  be  paid,  such  interest  shall  not  be
  compounded. The amount of the underpayment shall be, with respect to the
  initial  payment  or  any  estimated  payment,  the excess of the amount
  required to be paid over the amount, if any, paid on or before the  last
  day  prescribed  for such payment. If the superintendent demands payment
  of the initial payment or any estimated payment, and if such  amount  is
  paid  within  ten  days  after  the date of such demand, interest on the
  amount so paid shall not be imposed for the period  after  the  date  of
  such  demand.  No  portion  of  the  interest  imposed  pursuant to this
  subparagraph may be waived.
    (iv) Notwithstanding the provisions of section sixteen  of  the  state
  finance  law,  interest  shall  be  allowed and paid at the rate set for

  overpayments by the commissioner of taxation  and  finance  pursuant  to
  section one thousand ninety-six of the tax law, or if no rate is set, at
  the  rate  of  six percent per annum upon any overpayment, from the date
  payment  was  due  to  a  date  (to be determined by the superintendent)
  preceding the date of a refund check by not more than  thirty  days.  In
  the  case  of a payment which is made after the last date prescribed for
  payment of such payment, no interest shall be allowed or  paid  for  any
  day  before  the  date  on  which the payment was made. In computing the
  amount of interest required to be  paid,  such  interest  shall  not  be
  compounded.  No  interest shall be allowed or paid if the amount thereof
  is less than one dollar.
    (v) If the  period  for  which  the  amount  is  imposed  pursuant  to
  paragraph  one  of  this  subsection  is  less than twelve months, every
  insurer shall make estimated payments in accordance with regulations  of
  the superintendent.
    (b)  If  the superintendent finds that by the laws or official acts of
  any foreign country, insurers organized in this  state  are  arbitrarily
  denied  the  privilege of doing business in such foreign country, or are
  subjected to  unreasonable  requirements  therein,  he  may  revoke  the
  licenses  of  all insurers of such country doing business in this state,
  and may refuse to issue  licenses  to  every  insurer  of  such  country
  thereafter  applying  for  a license to do business in this state, or in
  lieu thereof, he may impose like requirements upon every insurer of such
  country, until he shall find that such arbitrary denial or  unreasonable
  requirements no longer apply.
    (c)  If, by the existing or future laws of any other state, any broker
  resident within this state and duly licensed as such under this  chapter
  may  not  be  licensed  as  a broker in such other state, then no broker
  resident in such other state shall be licensed as a broker  within  this
  state,  anything  in  this chapter to the contrary notwithstanding. If a
  license fee exceeding forty dollars per annum is imposed  by  any  other
  state  for  issuing a license to a broker resident within this state, or
  the amount of commissions which may be paid to such broker  on  premiums
  on  risks  located in any other state shall be limited under the laws of
  such state, then, all brokers resident in such other  state  shall  upon
  being  licensed  in this state pay a like fee in lieu of that prescribed
  by this chapter, and insurance companies authorized to transact business
  in this  state  shall  not  pay  to  any  such  nonresident  broker  any
  commissions  on  premiums on risks located in this state exceeding those
  which the laws of such other state  permit  brokers  of  this  state  to
  receive on premiums on risks located in such other state.
    * (d)  (1) Should the insurance department, commissioner, director, or
  other similar insurance  regulatory  official  of  any  other  state  or
  territory  of  the United States impose any sanctions, fines, penalties,
  financial   or   deposit   requirements,   prohibitions,   restrictions,
  regulatory  requirements,  or  other  obligations  of  any kind upon any
  insurance company organized or chartered in this state and  licensed  to
  transact  business  in  such  other  state  or territory, because of the
  failure of the New York insurance department  to  obtain,  maintain,  or
  receive  accreditation  certification  or  any similar form of approval,
  compliance, or acceptance from, by, or  as  a  member  of  the  National
  Association  of  Insurance  Commissioners, or any committee, task force,
  working group, or advisory committee thereof, or because of the  failure
  of  the  department  to  comply  with  any  directive,  financial annual
  statement requirement,  model  act  or  regulation,  market  conduct  or
  financial  examination  report or requirement, or any report of any kind
  of  the  National  Association  of  Insurance  Commissioners,   or   any
  committee, task force, working group, or advisory committee thereof, the

  superintendent shall without exception or exclusion, impose upon any and
  all  insurance  companies  organized or chartered in such other state or
  territory and licensed to do business in this state the same  sanctions,
  fines,  penalties,  financial  or  deposit  requirements,  prohibitions,
  restrictions, regulatory requirements, or other obligations imposed upon
  the insurance companies of this state.
    (2) To the extent that it would be detrimental  to  the  adequate  and
  proper  regulation  of insurance in this state to use existing employees
  or resources of the department in order to comply  in  a  timely  manner
  with  paragraph  (1)  of  this subsection, the superintendent may engage
  such other qualified persons and  services  as  may  be  necessary.  The
  superintendent  shall recover all of the costs of such compliance in the
  manner prescribed in section 313 of the insurance law.
    * NB Expired March 31, 1995
    * (e) The provisions of this section  shall  not  apply  to  insurance
  companies organized or domiciled in a state or country whose laws do not
  impose  retaliatory  taxes  or  other  charges  or  which  grant,  on  a
  reciprocal basis, exemptions therefrom to insurance companies  organized
  or domiciled in this state.
    * NB  Expired  March  31,  1995,  relettering  expired on such date is
  actually (d) from 367/84 on such date