New York Codes, Rules and Regulations
Title 23 - FINANCIAL SERVICES
Chapter I - Regulations of the Superintendent of Financial Services
Part 102 - VIRTUAL CURRENCY LICENSEE ASSESSMENTS
Section 102.6 - Special Assessments
When the superintendent shall determine that the expenses associated with a specific examination, investigation or review are best allocated solely to the individual Licensee or Licensees subject to such examination or investigation, rather than to all Licensees generally or any subgroup thereof, such expenses shall be billed separately as provided for in this subdivision. The time of each person associated with such examination or investigation shall be multiplied by the average costs of the examiners and specialists at their respective grade levels assigned to such examination or investigation, plus expenses for travel outside of New York, and the resulting amount shall be assessed separately to each such Licensee subject to such examination or investigation in such amounts as the superintendent shall deem appropriate. Alternatively, if another entity or person is selected to perform an examination, investigation or review of an individual Licensee or Licensees, the expenses associated with such examination, investigation and review shall be the amount of the contract for such services and such portion of the department's administrative expenses associated with such contract as the superintendent shall deem appropriate. The resulting amount shall be assessed separately to each such Licensee subject to such examination, investigation or investigation in such amounts as the superintendent shall deem appropriate. Such special assessments shall be billed within 180 days after the calendar quarter within which such expenses were incurred. Such amounts shall be paid within 30 days of the date of such billing. In making a determination to make a special assessment and to allocate such assessment between one or more Licensees, the superintendent shall include such factors as she or he shall deem appropriate, including, but not limited to: the significance of the examination to the conduct of business by a given Licensee or group of Licensees; the potential seriousness of any violations of law or regulation identified by, or under review in, such examination or investigation; and the extent to which a Licensee attempted to cover up or failed to disclose the existence of such violations.