Sec 20-225. Failure to pay tax; penalty

A. Any insurer failing to pay the tax prescribed by sections 20-224, 20-224.01, 20-837, 20-1010, 20-1060 and 20-1097.07 is subject to a civil penalty equal to the greater of twenty-five dollars or five per cent of the amount due plus interest at the rate of one per cent per month from the date the tax was due.

B. The director may refuse to renew the certificate of authority of any insurer failing to pay such tax on or before the date it is due. The director shall revoke the certificate of authority of any insurer failing to pay such tax for more than thirty days after it was due.