Navigation companies; failure to file return; actions against
Sec. 8. If a navigation company incorporated under the laws of
this state has not filed a required tonnage tax return and paid the
tonnage tax within thirty (30) days after the July 1st due date, the
state auditor shall report that fact to the attorney general. The
attorney general shall then proceed to institute an action against the
company for the sequestration of its property, the forfeiture of its
charter, and its final dissolution. When the attorney general initiates
an action under this section, the company may be required to pay the
state, in addition to the delinquent tonnage taxes, a penalty of five
hundred dollars ($500).
(Formerly: Acts 1975, P.L.47, SEC.3.)
Last modified: May 28, 2006